Ethereum

Strong

Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-holds-strong-above-70000-while-ethereum-shows-consolidation-signs" rel="noopener noreferrer nofollow">Bitcoin Holds Strong Above $70,000 While Ethereum Shows Consolidation Signs</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/bitcoin-recovers-after-sharp-decline-eyes-return-to-peak-levels" rel="noopener noreferrer nofollow">Bitcoin</a> sustains its position over $70,000, thwarting the bearish anticipation of a drop below $60,000. The dominant <a href="https://en.bitcoinhaber.net/bitcoins-resurgence-to-43000-fueled-by-market-optimism-and-etf-developments" rel="noopener noreferrer nofollow">cryptocurrency</a>‘s performance is influencing a bullish sentiment for altcoins, even amidst negative market conditions. Conversely, <a href="https://en.bitcoinhaber.net/ethereum-experiences-price-swing-as-market-shows-bullish-trend" rel="noopener noreferrer nofollow">Ethereum</a> shows a more muted behavior, hovering around $3,500, as it grapples with recent regulatory actions in the United States.</p>
<h2 id="ethereum-s-market-position">Ethereum’s Market Position</h2>
<p style="text-align: justify">Market analysis tools such as the Pi Cycle Top indicator point to a potential consolidation phase for Ethereum. The current indicator range hints at a resting phase for buyers within a price bracket of $2,750 to $4,231, which might set the stage for a future upswing. Ethereum’s market value appears to be in equilibrium, as it is positioned between long-term and short-term moving averages.</p>
<h2 id="anticipating-ethereum-s-next-move">Anticipating Ethereum’s Next Move</h2>
<p style="text-align: justify">Ethereum’s Net Unrealized Profit/Loss (NUPL) metric oscillates between neutral zones, suggesting a market driven by cautious optimism. External factors, such as the SEC’s recent decisions, put a damper on the likelihood of Ethereum ETF approvals within the year, leading to a stabilized price under the $4,000 mark, reinforcing the consolidation pattern.</p>
<p style="text-align: justify">Technical analysis of the four-hour chart through Exponential Moving Average (EMA) lines indicates a persisting sideways trend for Ethereum. Potential volatility could test resistance levels at $4,100, where surpassing could aim for record highs. However, a decline below the support level of $3,200 may signal a bearish turn, potentially establishing a new bottom within the $2,900 to $2,750 range.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-holds-strong-above-70000-while-ethereum-shows-consolidation-signs" rel="noopener noreferrer nofollow">Bitcoin Holds Strong Above $70,000 While Ethereum Shows Consolidation Signs</a></h5>

Bitcoin Holds Strong Above $70,000 While Ethereum Shows Consolidation Signs

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