Ethereum

bullish

Bitcoin

Reserve

Rekt

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/crypto-markets-poised-for-action" data-wpel-link="internal" rel="noopener noreferrer nofollow">Crypto Markets Poised for Action</a><br></p>
<p style="text-align: justify">With summer ending, analysts anticipate a period of significant activity in the cryptocurrency markets. Reflecting on past movements, such as the recovery from the 2021 decline triggered by China and <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">Elon Musk</a>, experts believe we might see a similar scenario. The elimination of major disruptive factors like Mt Gox has cleared the way for potential bullish trends in crypto. So, what lies ahead?</p>
<h2 id="bitcoin-btc-forecast">Bitcoin (BTC) Forecast</h2>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/bitcoin-breaks-54000-barrier-as-market-rally-continues" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>, the leading cryptocurrency, was valued at $59,000 at the time of analysis. Despite recent price stagnation, Glassnode data reveals that 74% of all BTC hasn’t moved for six months. Nansen analysts indicate that if this trend continues, the Federal Reserve might consider cutting <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">interest rates</a>, potentially boosting markets.</p>
<p style="text-align: justify">Rekt Capital suggests that Bitcoin is on the cusp of an upward breakout within the next month. Although it has struggled to surpass the $60,000 mark, it has also managed to avoid dropping to the critical $55,724 support level. The price has been fluctuating between the SMA50 and $55,724, but breaking past $61,425 could drive it towards $65,660 and $70,000.</p>
<p style="text-align: justify">Conversely, if support is lost, Bitcoin could fall back to $49,000, triggering rapid sales and potentially hitting new lows for 2024, especially impacting altcoins that haven’t yet recovered.</p>
<h2 id="eth-price-forecast">ETH Price Forecast</h2>
<p style="text-align: justify">Ethereum has seen strong exits from the Glassnode ETF, yet the channel remains relatively stable. Weak market movements have tested ETH’s $2,500 support. Holding this level and the subsequent recovery is viewed positively. With the EMA20 at $2,729 and the price at $2,616, a break above EMA20 could see a revisit to the $2,850 level, initiating a movement similar to Bitcoin’s potential rally towards $70,000. However, if ETH loses the $2,500 support, a drop to $2,309 could follow.</p>
<h2 id="what-key-factors-should-investors-monitor">What Key Factors Should Investors Monitor?</h2>
<p style="text-align: justify">For investors looking to navigate the upcoming market movements, several key factors should be closely monitored:</p>
<ul>
 <li>Federal Reserve’s stance on interest rate adjustments.</li>
 <li>Bitcoin’s ability to break the $61,425 resistance level.</li>
 <li>Ethereum’s stability around the $2,500 support level.</li>
 <li>Market reactions to any significant disruptive events.</li>
</ul>
<p style="text-align: justify">By keeping an eye on these elements, investors can make informed decisions during this potentially volatile period.</p>
<p style="text-align: justify">In summary, as summer concludes, the cryptocurrency market appears poised for significant movements. Bitcoin and Ethereum show potential for upward trends, but investors should remain vigilant about key support and resistance levels, along with broader economic signals.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/crypto-markets-poised-for-action" data-wpel-link="internal" rel="noopener noreferrer nofollow">Crypto Markets Poised for Action</a></h5>

Crypto Markets Poised for Action

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