Ethereum

Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-and-ethereum-face-significant-selling-pressure-2/" data-wpel-link="internal">Bitcoin and Ethereum Face Significant Selling Pressure</a><br></p>
<p class="p1" style="text-align: justify">With today’s decline in the <a href="https://en.coin-turk.com/trueusd-announces-strategic-partnership-with-moore-hong-kong-to-enhance-audit-system/" data-wpel-link="internal">cryptocurrency market</a>, significant selling pressure emerged, especially for Bitcoin and Ethereum. This drop accelerated the liquidation process in the futures market, leading to substantial losses for many <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a>. What can be expected for Bitcoin and Ethereum? Detailed chart analysis and key support and resistance levels.</p> 
<h2 class="p1" style="text-align: justify" id="bitcoin-chart-analysis">Bitcoin Chart Analysis</h2> 
<p class="p1" style="text-align: justify">In the daily Bitcoin chart, the narrowing wedge formation has been prominent in recent weeks, and the resistance breakout has worked positively. The $71,300 level, which could not be surpassed in the last week of March, came up again and faced selling pressure. With today’s decline, investors need to be more cautious.</p> 
<p class="p1" style="text-align: justify">The most important support level to watch on the daily Bitcoin chart is $66,205, which coincides with the formation resistance line. A daily bar close below this level could increase the selling pressure on Bitcoin.</p> 
<p class="p1" style="text-align: justify">The most important resistance level to watch on the daily Bitcoin chart is $69,667, which has recently caused significant resistance pressure. A daily bar close above this level could bring the upward scenario back into focus.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-361266 size-full" src="https://coin-turk.com/wp-content/uploads/2024/06/btc-5.png" alt="" width="2505" height="1163"></p> 
<h2 class="p1" style="text-align: justify" id="ethereum-chart-analysis">Ethereum Chart Analysis</h2> 
<p class="p1" style="text-align: justify">In the daily Ethereum chart, a consolidation process emerged with the breakout in the triangle formation. During this process, today’s selling pressure broke the Ethereum support level, disappointing investors. This development could bring the EMA 200 (red line) average of $2,945 into focus on the chart.</p> 
<p class="p1" style="text-align: justify">The most important support level to watch on the daily Ethereum chart is $3,502. A daily bar close below this level could increase the selling pressure and leave the optimistic process for ETF funds behind.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-361265 size-full" src="https://coin-turk.com/wp-content/uploads/2024/06/eth-3.png" alt="" width="2507" height="1164"></p> 
<p class="p1" style="text-align: justify">The most important resistance level to watch on the daily Ethereum chart is the EMA 9 (blue line) average of $3,689. A daily bar close above this level could cause the Ethereum price to gain momentum.</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-and-ethereum-face-significant-selling-pressure-2/" data-wpel-link="internal">Bitcoin and Ethereum Face Significant Selling Pressure</a></h5>

Bitcoin and Ethereum Face Significant Selling Pressure

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