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Bitcoin (BTC) Stalls at $72k, Ethereum (ETH)’s Dynamics Evolve, and Furrever Token (FURR) Offers 25% Bonus!

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In the ever-evolving landscape of cryptocurrency, Bitcoin (BTC) has hit a snag, struggling to break the $72,000 barrier. Meanwhile, Ethereum (ETH) is experiencing notable shifts in its dynamics, capturing the attention of investors and analysts alike. Amid these developments, Furrever Token (FURR) emerges as a standout opportunity, offering an enticing 25% bonus on purchases until June 10th, 2024. This limited-time offer not only enhances your investment potential but also invites you to join a vibrant community centered around the unique charm of cat-themed cryptocurrency. Don’t miss your chance to diversify and boost your crypto portfolio today!

Bitcoin (BTC) Fails to Break $72k

The leading cryptocurrency, Bitcoin (BTC), continued its rise to $72k after starting the week at $69k. Following the release of Non-Farm Payroll data from the United States last night, Bitcoin (BTC) faced selling pressure at $72k and closed the day at $69,335 with a 2.04% drop. Bitcoin (BTC) made a flat start to the day and is currently trading at $69,413, just above the $69k support level.

Bitcoin (BTC) Chart Analysis

The leading cryptocurrency, Bitcoin (BTC), fell from $72k to $56k between March and May 2024 and then tested the $72k resistance again. Bitcoin (BTC) did not encounter any issues until the evening, but after the release of the Non-Farm Payroll data from the United States, it faced heavy selling pressure at the $72k resistance and is now trading at $69,413, above the $69k support level. Examining Bitcoin (BTC)’s daily chart, we see that it failed to break the $72k resistance and retreated to the $69k support. As long as Bitcoin (BTC) stays above the $69k support, I do not foresee any issues. However, investors should be cautious if it closes below the EMA21 at $68,453. For Bitcoin (BTC) to continue its upward trend, it must break the $72k resistance.

Shifting Dynamics in Ethereum (ETH)?

Ethereum (ETH), the second-largest cryptocurrency with a market cap of $443.88 billion, started the day at $3,812.1 and tested $3,838.8 before closing with a 3.56% drop at $3,676.8. Ethereum (ETH) made a slightly positive start to the new day and is currently trading at $3,696.3, up 0.53%.

Ethereum (ETH) Chart Analysis

Ethereum (ETH), which had been on a downtrend from $4k in March, found support at $2,858. After the announcement of a spot ETF approval, it rebounded sharply from the $2,858 support and broke its two-month downtrend. Following this sharp rise, Ethereum (ETH) has been trading in the $3,750-$3,950 range (shown in purple on the chart) for the past two weeks. However, after the Non-Farm Payroll data release from the U.S., Ethereum (ETH) broke below this range due to selling pressure in Bitcoin (BTC) and is currently holding at the EMA21 support. There are two possible scenarios for Ethereum (ETH): in the positive scenario, if it forms a flag pattern on the daily chart and closes above $4k, the flag target could be 30% above the current price, around $4.8k. In the negative scenario, if it fails to break above $4k, it might form a double top pattern and could potentially pull back to its starting point of $2,858.

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