Ethereum

Cryptocurrency

Bitcoin

Resistance

strong bull

<p>The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/cryptocurrency-market-at-a-crossroads-santiment-predicts-crucial-week-ahead/">Cryptocurrency Market at a Crossroads: Santiment Predicts Crucial Week Ahead</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p>
<p>Cryptocurrency enthusiasts and investors are keeping a keen eye on the market after a noteworthy statement from Santiment. The prominent analytics company suggests that the upcoming week would be crucial for cryptocurrencies, potentially heralding a bull run if cryptocurrencies break away from their recent correlation with stock markets.</p>
<h2 class="wp-block-heading" id="strong-crypto-and-stocks-a-changing-relationship-strong"><strong>Crypto and Stocks: A Changing Relationship?</strong></h2>
<p>Santiment has observed that after Bitcoin and Ethereum calmed from their recent highs, the S&amp;P 500 stock index enjoyed its moment of significant gains. This shifting performance has raised questions about the traditional connection between cryptocurrencies and equities.</p>
<p>The upcoming days are crucial, as they may reveal whether cryptocurrencies like Bitcoin and Ethereum can start a strong bull run, independent of stock market movements, says Santiment.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4ca.png" alt="📊" class="wp-smiley" style="height: 1em; max-height: 1em;"> The <a href="https://twitter.com/hashtag/SP500?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#SP500</a> had a big week after <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> &amp; <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Ethereum</a> have cooled down. With the sectors now each having their 'time in the sun', this next week will indicate whether <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#crypto</a> is still tied to <a href="https://twitter.com/hashtag/equities?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#equities</a>, or whether assets can prepare for a <a href="https://twitter.com/hashtag/bullrun?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#bullrun</a>. <a href="https://t.co/R9moWBoqCx" rel="noopener noreferrer nofollow">https://t.co/R9moWBoqCx</a> <a href="https://t.co/FNddr1T8PM" rel="noopener noreferrer nofollow">pic.twitter.com/FNddr1T8PM</a></p>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1720628355039445110?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 4, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>Bitcoin recently reached over $35,000, sparking excitement among eager investors hoping for a new upward streak. However, this excitement was short-lived as the price dipped back. If sellers keep the price under $35,000, Bitcoin might slide toward $33,900. This price level is crucial; dipping below it could send Bitcoin down to $32,500, near its 20-day exponential average.</p>
<h2 class="wp-block-heading" id="h-ethereum-s-resistance"><strong>Ethereum’s Resistance</strong></h2>
<p>Ethereum experienced a similar struggle. It momentarily overcame a resistance level at $1,865 but couldn’t hold on to those gains due to sellers taking advantage. The next significant level to watch for ETH is at $1,700. If the price falls below this, it could mean the bears are getting control. But, if the bulls can step in and push the price back up, Ethereum may be on its way to reaching the desired $2,000 mark.</p>
<p>As investors watch these developments unfold, Santiment’s insights tell us that the cryptocurrency market is at a crossroads. With Bitcoin currently valued at $34,728 and Ethereum at $1,835, all eyes will be on these critical thresholds in the week ahead to see if the bulls can take charge and set the stage for a rally.</p>

Cryptocurrency Market at a Crossroads: Santiment Predicts Crucial Week Ahead

Table of Contents

CoinPedia News

Other articles published on Nov 4, 2023

Ripple's Swell 2023: LINK, SOL, and XRP Prices Surge - What's Fueling the Rally?

What is CyberMiles Coin?

MicroStrategy dan 158.400 BTC Itu

Cardano Summit 2023: Merging AI And Blockchain, Funding, And Day 2 Recap

Coinbase Q3 revenue up despite slump in trading volumes

Berita Terkini Shiba Inu, Klarifikasi Cara Kerja Burn Hingga Arus Keluar SHIB dari Crypto Exchange

Join our free newsletter for daily crypto updates!