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This article dives into Ethereum's recent surge past $3,000, analyzing the technical indicators and market dynamics driving its ascent and future prospects.
Bitcoin is trading at $48,400 and may rise to $50,777 if it closes above $48,200. However, caution is advised in the range of $50,777 - $52,000. Corrections are common in the crypto market, so careful consideration is necessary before spot investments.
Solana is trading near the $108 resistance on the 8-hour chart, with a potential target of $111.84 if it surpasses this level. However, caution is advised in the $111.84 - $117.20 resistance range on the 6-hour timeframe.
When examining the medium-term technical chart of Ethereum, strong buying pressure is observed, pushing the price up from the $2139 support to the $2350 region. However, for the price to sustain its upward movement, it needs to surpass the $2407 resistance.
When examining Bitcoin's 5-day technical chart, the analysis from January 18 is ongoing, indicating a continued downward movement from the $48,189 level. Bitcoin needs to close 5-day candles above the $44,200 resistance to gain momentum for an upward trend.
Bitcoin's 8-hour technical chart shows the price above the $42,179 support, with potential for a downward move if it closes below this level.
This article provides an in-depth technical analysis of Bitcoin's performance, exploring the dynamics of its price resilience and the implications for investors amid market fluctuations.
As Bitcoin approaches a significant resistance confluence, the crypto community watches closely to see if it will break through or face rejection, ahead of the much-anticipated halving event.