Ethereum

Bitcoin

Rekt

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-surpasses-70000-after-three-day-struggle/" data-wpel-link="internal">Bitcoin Surpasses $70,000 After Three-Day Struggle</a><br></p>
<p class="p1" style="text-align: justify"><strong>Bitcoin,</strong> after a three-day struggle, surpassed the psychological barrier of $70,000 on May 27. This indicates that the bulls are maintaining control. However, some analysts do not believe a breakout is likely in the near term. Analyst Rekt Capital emphasized that the post-halving reaccumulation phase typically lasts 160 days, suggesting Bitcoin may remain flat for a few more weeks.</p> 
<p class="p1" style="text-align: justify">Bitcoin’s quiet performance and the approval of spot <a href="https://en.coin-turk.com/important-on-chain-metrics-for-the-biggest-altcoin-according-to-market-value/" data-wpel-link="internal">Ethereum</a> exchange-traded funds shifted the focus to Ethereum. Many analysts believe Ethereum will rise and are anticipating its increase. DeFiance Capital founder Arthur Cheong stated in a post on X that Ethereum could rise to $4,500 before the launch of spot ETF funds.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-356361 size-full" src="https://coin-turk.com/wp-content/uploads/2024/05/coin360-4.webp" alt="" width="1419" height="918"></p> 
<h2 class="p1" style="text-align: justify" id="bitcoin-chart-analysis">Bitcoin Chart Analysis</h2> 
<p class="p1" style="text-align: justify">Bitcoin rose to its 20-day EMA average of $66,798 on May 24 and surpassed the $70,000 level on May 27, indicating that the bulls are trying to strengthen their hold. The BTC/USDT pair is likely to rise towards the significant general resistance at $73,777.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-356360 size-full" src="https://coin-turk.com/wp-content/uploads/2024/05/btc-12.webp" alt="" width="1334" height="809"></p> 
<p class="p1" style="text-align: justify">The bears are expected to defend this level with all their might because if they fail, the pair could rise to $80,000 and then to $84,000. On the other hand, a sharp drop from the general resistance and a break below the moving averages would signal that the pair could remain stuck in the range of $59,600 to $73,777 for some time.</p> 
<h2 class="p1" style="text-align: justify" id="ethereum-chart-analysis">Ethereum Chart Analysis</h2> 
<p class="p1" style="text-align: justify">Ethereum rose from $3,730 on May 26, indicating that the bulls have turned the level into support. The bulls are trying to keep the <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">price</a> above $3,950. If they succeed, the ETH/USDT pair could rise towards the strong general resistance at $4,100. If the bulls overcome this hurdle, the pair could gain momentum and rise towards $4,868.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-356359 size-full" src="https://coin-turk.com/wp-content/uploads/2024/05/eth-2.webp" alt="" width="1334" height="809"></p> 
<p class="p1" style="text-align: justify">If the bears want to prevent the rise, they will have to pull the price below the breakout level of $3,730. This could initiate a drop towards the 20-day EMA average of $3,455, which is likely to act as strong support. If the price rises above this level, the bulls will try to push the pair back to $4,100. The launch of ETF funds in the Ethereum sector will reduce the circulating supply of Ethereum and increase its price. During this process, a bullish scenario could emerge for many altcoins, especially Ethereum.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-surpasses-70000-after-three-day-struggle/" data-wpel-link="internal">Bitcoin Surpasses $70,000 After Three-Day Struggle</a></h5>

Bitcoin Surpasses $70,000 After Three-Day Struggle

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