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Bitcoin is currently facing significant resistance at the $120,000 level, with market analysts predicting a potential breakthrough if it maintains above $116,900.
Bitcoin’s recent rally has brought it close to the $120,000 resistance, but sustaining higher levels remains a challenge.
Ether is expected to challenge the $4,094 level, where selling pressure may increase.
Market analysis suggests that BTC must stay above $116,900 to confirm bullish momentum.
Bitcoin faces a critical resistance at $120,000, with Ether also showing potential for growth. Stay updated with our latest market analysis.
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Cryptocurrency
Current Price
Resistance Level
Bitcoin (BTC)
$116,900
$120,000
Ether (ETH)
$3,941
$4,094
What is Bitcoin’s Current Market Position?
Bitcoin is currently attempting to break through the $120,000 resistance level. Analysts indicate that maintaining a price above $116,900 is crucial for bullish momentum.
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How Does Ether Compare in the Current Market?
Ether has shown strength, recently surpassing the $3,745 resistance. Analysts predict it may face selling pressure as it approaches the $4,094 level.
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Frequently Asked Questions
What are the key resistance levels for Bitcoin?
The key resistance levels for Bitcoin are currently at $120,000 and $123,218.
How is Ether performing in the market?
Ether is performing well, with a recent price of around $3,941, and is expected to challenge the $4,094 resistance level.
Key Takeaways
Bitcoin’s resistance at $120,000: A critical level for bulls to overcome.
Market dynamics: Sustaining prices above $116,900 is essential for bullish trends.
Conclusion
In summary, Bitcoin is at a pivotal point, facing resistance at $120,000. Ether also shows promise, with potential upward movement. Staying informed on these trends is crucial for investors.
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Bitcoin has made a brilliant comeback but is expected to face significant resistance at $120,000.
Ether looks strong on the charts and is expected to challenge the $4,094 level, where sellers are expected to step in.
Glassnode reported that the cost basis of local top buyers is around $116,900, indicating a crucial support level.
Bitcoin is attempting to break through the $120,000 resistance level, while Ether shows strength in the market. Key predictions and analysis included.
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Bitcoin Price Prediction
BTC cleared the near-term resistance of $115,720 but is facing selling at the downtrend line.
If the price turns down from the downtrend line but rebounds off the neckline, it suggests buying on minor dips. If that happens, the BTC/USDT pair could retest the $120,000 to $123,218 resistance zone.
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Ether Price Prediction
Buyers pushed ETH above the $3,745 hurdle, signaling that the corrective phase may be over.