Ethereum

Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-and-ethereum-experience-selling-pressure" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin and Ethereum Experience Selling Pressure</a><br></p>
<p style="text-align: justify">Today saw a notable decline in the cryptocurrency market, primarily affecting <a href="https://en.bitcoinhaber.net/bitcoins-trajectory-from-etf-launch-to-halving-event-anticipation" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> and Ethereum. This downturn hastened the liquidation process in the futures market, leading to substantial losses for many <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a>. Detailed chart analyses have highlighted key support and resistance levels for both cryptocurrencies.</p>
<h2 id="what-does-bitcoin-s-chart-reveal">What Does Bitcoin’s Chart Reveal?</h2>
<p style="text-align: justify">In the daily Bitcoin chart, a narrowing wedge formation has been evident recently, with resistance breakouts showing positive effects. The $71,300 level, which Bitcoin struggled to surpass in late March, faced selling pressure again. Today’s decline necessitates increased caution among investors. The critical support level to monitor is $66,205, aligning with the formation resistance line. A daily close below this level could amplify selling pressure. Conversely, the key resistance level is $69,667, which has recently posed significant resistance. A daily close above this level may revive an upward trend.</p>
<h2 id="what-does-ethereum-s-chart-indicate">What Does Ethereum’s Chart Indicate?</h2>
<p style="text-align: justify">Ethereum’s daily chart shows a consolidation phase following a breakout in the triangle formation. Today’s selling pressure broke through Ethereum’s support level, disappointing investors. This could spotlight the EMA 200 (red line) average of $2,945. The critical support level to watch is $3,502. A daily close below this level could heighten selling pressure and undermine optimism surrounding ETF funds. The key resistance for Ethereum is the EMA 9 (blue line) average of $3,689. A daily close above this level could invigorate Ethereum’s price momentum.</p>
<h2 id="concrete-insights-for-investors">Concrete Insights for Investors</h2>
<p style="text-align: justify">– Monitor Bitcoin’s $66,205 support level for potential increased selling pressure if breached.<br> – Watch for a daily close above Bitcoin’s $69,667 resistance level to signal a possible upward trend.<br> – Pay attention to Ethereum’s $3,502 support level; a close below could heighten selling pressure.<br> – Look for a daily close above Ethereum’s $3,689 resistance level to indicate potential price momentum.</p>
<p style="text-align: justify">In conclusion, today’s significant selling pressure on Bitcoin and Ethereum highlights the importance of monitoring key support and resistance levels for <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">future</a> market movements. Investors should remain vigilant and responsive to these critical price points to navigate potential market volatility effectively.</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-and-ethereum-experience-selling-pressure" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin and Ethereum Experience Selling Pressure</a></h5>

Bitcoin and Ethereum Experience Selling Pressure

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