bitcoin Outlook
's recent plunge below the 20-day exponential moving average ($105,232) signals weakening bullish momentum. The action suggests a potential range-bound movement unless bulls push above key resistance levels, with a close above $111,980 needed to target $130,000. Conversely, failure to sustain higher levels could lead to a drop toward $100,000 or lower, especially if the 20-EMA continues to turn downward.
ethereum and Altcoin Resurgence
ethereum has been defending the 20-day EMA ($2,496), but failure to break above $2,738 raises concerns of a deeper pullback. A breakdown below $2,323 could accelerate declines to $2,133, yet a strong rebound might see ETH rally to $3,000 and beyond. Analysts believe that ETH’s chart patterns indicate a potential altcoin season, which could lift other tokens such as HYPE, TAO, and QNT.
market Implications and Next Steps
If manages a relief rally toward $109,588, it could catalyze a broader surge across altcoins, supported by increasing demand metrics. As the remains at a critical juncture, traders should watch for confirmation of upward momentum which could signal the start of a new bullish phase in the crypto ecosystem.
