Bitcoin ($BTC/USD) Analysis:
BTCUSD has hit a robust resistance range between 61K and 72K. A brief consolidation just below the 65K-68K resistance zone and above the trend channel's upper boundary at 58.5K is encouraging, indicating a likely breakout to new highs. Up to now, the price has retained its gains. The minor low at 60K has acted as short-term support. Additional consolidation between 60K and 73.7K could create a potential rectangle chart pattern. However, failing to maintain above the upper boundary of the trend channel might lead to a larger correction towards the 52K levels. The only bearish possibility is a double top formation with a retest of the 70K levels. uptrend.
Ethereum ($ETH/USD) Analysis:
Long-term resistance is positioned at the $4,400 level, Short term = $4000 with the uptrend remaining intact. The potential upward trend line provided support around the 2,800 level long term and short term $3700, where minor lows also held, leading to a sharp rebound in ETHUSD. Technically it would be considered bullish once the price breaks through the horizontal resistance at $4,400.
Ethereum/Bitcoin (ETH/BTC) Analysis:
The monthly chart of ETHBTC is at a critical support level. Breakout or breakdown signals through diagonal boundaries are typically less reliable, but a trendline with multiple touchpoints can be valid and recognized by market participants as a level that may alter the demand/supply dynamic. The trendline and horizontal support converge around the 0.05 level. A breakdown below 0.05 could reverse the current uptrend and lead to significant underperformance of ETH compared to BTC, with a possible price target for the rectangle pattern at 0.029. Given that this is a monthly chart, monitoring for an end-of-month close below 0.05 is essential. An ideal breakdown signal should be accompanied by a long black candle. Conversely, a sharp recovery from the current support area could lead to a continuation of the broad trading range between 0.05 and 0.08. If the monthly candle closes at current levels, it would indicate a sharp reversal and possibly a bear trap on daily/weekly charts. In that case, the price would reclaim support and continue to consolidate between 0.05 and 0.08. Change in Trend could be the 0.062 level.
Support Levels to Watch Based on Daily Chart:
Bitcoin ($BTC):
Support: $67,000 area
Resistance: $72,000 area
Ethereum ($ETH): Support: $3,700 area Resistance: $4,000 area
Ethereum ($ETH)/BTC: Support: 0.05 Resistance: 0.062
Alt Coins Daily Chart Levels to Watch :
Bitcoin Cash ($BCH):
Support: $400 area
Injective Protocol ($INJ):
Support: $18 area
Maker ($MKR):
Support: $2,650 area
TRON ($TRX):
Support: $0.11 area
Render Token ($RNDR):
Support: $10.00 area
Fetch ($FET):
Support: $1.85 area
Solana ($SOL):
Support: $170 area
Binance Coin ($BNB):
Support: $510 area
Chainlink ($LINK):
Support: $16 area
Immutable X ($IMX):
Support: $1.80 area
Avalanche ($AVAX):
Support: $29 area
Stacks ($STX):
Support: $2.00 area
Near Protocol ($NEAR):
Support: $5.80 area
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