In the dynamic world of cryptocurrency, Bitcoin (BTC) once again asserts its dominance by breaching the formidable 69k resistance level, signaling renewed bullish momentum. Meanwhile, Ethereum (ETH) grapples with persistent resistance at the $4,000 mark for the 15th consecutive day, hinting at a crucial juncture for the second-largest cryptocurrency. Amidst these developments, Furrever Token shines as a beacon of opportunity, offering investors a unique proposition with its charming ecosystem centered around adorable cat imagery. With an enticing 25% bonus on new purchases, coupled with community-driven engagement initiatives, Furrever Token presents itself as an irresistible investment avenue in the ever-evolving crypto landscape.
Bitcoin (BTC) Once Again Above the 69k Resistance
The leading cryptocurrency started the new week with an upward trend and continued its rise on the second day of the week. While Bitcoin (BTC) maintains its consolidation between 66k-70k, it tested the EMA21 support again on Sunday before climbing up. Bitcoin (BTC), with a market cap of 1.362 trillion dollars, started yesterday at 67,765 dollars, tested 70,288 dollars, and closed the day at 68,809 dollars with a 1.54% increase. Bitcoin (BTC) has made a positive start today, currently trading at 69,124 dollars with a 1.86% rise above the 69k dollar resistance.
Bitcoin (BTC) Chart Analysis
The leading cryptocurrency, which rose from 56.5k dollars to 72k dollars at the beginning of May, fell back to 66k dollars due to selling pressure from 72k dollars, and has continued to trade in a narrow range since then. Examining the daily chart of Bitcoin (BTC) trading between 66k-70k dollars, it is observed that it struggles to make daily closes above the 69k dollar resistance and lingers in this area. For Bitcoin (BTC) to continue its upward trend, it needs to break the 69k dollar resistance and achieve daily closes above this level. The first resistance levels for Bitcoin (BTC) above 69k dollars will be 72k-73.7k dollars. In case of continued selling pressure, the initial support levels to watch are EMA5 and EMA21 at 68,516 dollars and 67,564 dollars, respectively.
Ethereum (ETH) and the 15-Day Resistance at 4k Dollars
Following Bitcoin (BTC), the second largest cryptocurrency, Ethereum (ETH), with a market cap of 453.35 billion dollars, started yesterday at 3,778.2 dollars, tested 3,846.9 dollars, and closed at 3,776.3 dollars with a 0.33% decline. Ethereum (ETH) made a flat start to the new day and is currently trading at 3,773.6 dollars with a 0.19% rise.
Ethereum (ETH) Chart Analysis
Ranking second after Bitcoin (BTC), Ethereum (ETH) tested 4k dollars in March and then entered a downtrend, continuing within this downtrend for two months. Ethereum (ETH) started to rise from the 2,858 dollar support with strong buying before the spot ETF approval news and broke the downtrend upwards. After receiving the spot ETF approval, Ethereum (ETH) has been trading within the 3,750-3,950 dollar range for days (as seen in purple on the chart). There are two scenarios for Ethereum (ETH). In the first scenario, it is observed that a flag formation has formed on the daily chart, and with daily closes above 4k dollars, the flag target is 20% above the current price, at 4.8k dollars. In the negative scenario for Ethereum (ETH), if it fails to rise above 4k dollars, a double top pattern may form, indicating a potential pullback to the initial rise point of 2,858 dollars.
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