Ethereum

Bitcoin

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Bears and bulls fight for dominance while Bitcoin continues to search for direction. Glassnode founders Jan Happel and Yana Allemann believe the <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">price</a> will move upward and expect a significant rise on the Bitcoin front in a post. 
The uncertainty about the next direction move has not stopped whales from buying. Blockchain data analytics firm Santiment said in a post that whale wallets holding between 1,000 and 10,000 Bitcoins bought approximately $941 million worth of Bitcoin within a 24-hour period. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-350101 size-full" src="https://coin-turk.com/wp-content/uploads/2024/05/coin360.webp" alt="" width="1426" height="914"> 
Bitcoin’s long-term <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">investors</a> seem not to worry about near-term range-bound movements. Twitter co-founder Jack Dorsey, in a recent interview with journalist Mike <a href="https://en.coin-turk.com/solana-price-analysis-will-sol-coins-decline-continue-what-investors-should-pay-attention-to/" data-wpel-link="internal">Solana</a>, said Bitcoin could rise to at least $1 million by 2030 and could even exceed this level thereafter. 
Bitcoin bulls are trying to keep the price above the psychological support of $60,000 but faced selling at the 20-day exponential moving average of $62,959. Downward moving averages and a relative strength index (RSI) in the negative zone indicate bears have the upper hand. If the $59,650 support breaks, the BTC/USDT pair could drop to $54,298, which is the 61.8% Fibonacci retracement level. 
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If the price rises above the 50-day simple moving average of $65,620, this negative view may become invalid in the near term. The pair could then accelerate towards the critical overall resistance of $73,777. 
Ethereum has been trading between the EMA 20 average of $3,087 and $2,850 for a few days. Falling moving averages and an RSI in the negative zone indicate an advantage for sellers. A break and close below $2,850 would signal the resumption of the downtrend. The ETH/USDT pair could collapse to the channel’s support line. 
The region between the 20-day EMA and the resistance line is likely to serve as a critical resistance. Buyers will need to push the price above this region to suggest a potential trend change, after which the pair could rise to $3,350. 
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<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-and-ethereum-market-analysis/" data-wpel-link="internal">Bitcoin and Ethereum Market Analysis</a></h5>

Bitcoin and Ethereum Market Analysis

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