Ethereum

Bitcoin

Resistance

Threshold

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-and-ethereum-navigate-key-resistance-levels">Bitcoin and Ethereum Navigate Key Resistance Levels</a><br></p>
<p style="text-align: justify">Bitcoin, the most prominent cryptocurrency, currently faces a challenge breaking above $52,000, potentially leading to a near-term pullback. According to BitMEX Research, Bitcoin ETFs experienced a $36 million net outflow on February 21st, reflecting a period of sideways trading. However, the subsequent day marked a significant turnaround with a $251 million net inflow, indicating renewed investor interest.</p> 
<h2 id="bitcoin-s-struggle-at-52-000">Bitcoin’s Struggle at $52,000</h2> 
<p style="text-align: justify">Despite the recent dip-buying at $50,625, Bitcoin’s inability to hold gains past $52,000 signals a potential bearish offensive to drive the price below the immediate support level. Should bears force a drop below $50,625, Bitcoin could retreat to a stronger support at $48,970. Conversely, if the cryptocurrency rebounds from this support, a bullish sentiment could propel it above $52,000, potentially rallying towards $60,000. Nonetheless, a fall below $48,970 might trigger increased selling, leading to a descent towards the 50-day Simple Moving Average (SMA) at $45,247.</p> 
<h2 id="ethereum-encounters-3-000-threshold">Ethereum Encounters $3,000 Threshold</h2> 
<p style="text-align: justify">Ethereum, the foremost platform for smart contracts, is also facing resistance at $3,000. The presence of bears at this crucial level suggests a potential correction towards the $2,717 mark, which coincides with the 20-day Exponential Moving Average (EMA). A bounce from this area could mean the level has transformed into a support, allowing bulls to attempt breaching the $3,000 resistance once again. If they prevail, the ETH/<a href="https://en.bitcoinhaber.net/united-nations-warns-of-tether-usdt-misuse-in-southeast-asia">USDT</a> pair might ascend to $3,300. However, if bears manage to suppress the price below $2,717, Ethereum might see a decline to its 50-day SMA at $2,497, possibly stalling the next upward move.</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-navigate-key-resistance-levels">Bitcoin and Ethereum Navigate Key Resistance Levels</a></h5>

Bitcoin and Ethereum Navigate Key Resistance Levels

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