Bitcoin (BTC) Jumps to Start Here, Ethereum (ETH) to Skyrocket? Toncoin (TON) Dominates Top 15 By U.Today
U.Today – Because , after its recent decline, recovery may be near, despite the gloom surrounding the commodity. Following its peak of around $100,000, Bitcoin faced a correction, falling to the support level of $90,000. Technical indicators and historical trends suggest that this level could be the start of another upward leg. Bitcoin’s recent movement has created a retracement of the noise within a strong uptrend on the chart.
The Relative Strength Index (RSI) is showing a cooling from overbought levels, while the 50-day moving average continues to move higher. This reduction in buying pressure may provide the necessary basis for fresh bullish air. Bitcoin needs to maintain its position at the current support levels, between $87,000 and $90,000, to try to reach the six-figure milestone again.
If these levels are not maintained, it could cause further downward pressure, perhaps testing the $76,000 range. But the high trading volume of the rally suggests that there is a lot of market interest and that buyers may soon return. It will take a combination of persistent buying pressure and market stimuli such as institutional income or favorable macroeconomic conditions to break above $100,000.
On the other hand, Bitcoin’s long-term trajectory remains firmly up, bolstered by strong fundamentals such as growing institutional adoption and declining exchange offers. At the moment, everyone is watching to see if Bitcoin can maintain its momentum and secure key support areas.
hits resistance
By breaking the $3,430 resistance level, which has been a key barrier in recent months, Ethereum (ETH) has achieved an important milestone. Because it represents the neckline of the previous double formation, a bearish chart pattern that could trigger a significant correction, this price point was important.
Apart from being a technical move, a break above $3,430 indicates a change in market conditions. This standard has historically served as a technical and psychological barrier, and previous attempts to break it were met with strong sales pressure.
Ethereum defied the bearish implications of the double-top pattern by breaking this threshold, paving the way for further upward momentum. Ethereum showed strong bullish signals on the chart. Long-term buying pressure is indicated by rising moving averages, especially the 50-day and 100-day EMAs. The Relative Strength Index (RSI) is also in bullish territory, indicating that more upside is possible before the asset becomes overbought.
The next important resistance level for Ethereum is between $3,800 and $4,000, if it can hold above $3,430. If ETH passes this test and rallies above these levels, it may return to its previous highs and trigger a new market rally.
But traders need to be careful. If $3,430 is not maintained, the market may review support levels of $3,100 or even $2,850. It will be very important to monitor the trend of volume because a drop in momentum can be a sign of lack of commitment from buyers.
Toncoin is exploding
With an incredible 19% gain in just one week, Toncoin has recently exploded onto the cryptocurrency market. Given its inability to capitalize on a major bull market this performance is remarkable. TON is currently trading at $6.28, making it the best performing cryptocurrency in the top 15.
The chart shows a strong bullish trend, with significant breakouts above the 50, 100 and 200 EMA levels. Upward momentum is indicated by the recovery of TON above these key moving averages. In addition, the high volume associated with this price movement suggests that investors are becoming more interested, which may keep the rally going.
The next resistance level to keep an eye on is if TON continues its upward trajectory around $7.50, the previous high from earlier this year. In the coming weeks, a breach of this level could pave the way for $8.00 or $8.50. If selling pressure increases, there could be a pullback to retest support at $6.00 or the 200 EMA near $5.50.
All in all, Toncoin’s recent surge shows its resilience and may pave the way for further gains. For investors to confirm the continuation of the bullish trend, they should wait for a clear move above $7.50.
This article was first published on U.Today
