Bitcoin (BTC): Strong Uptrend with Potential Short-Term Pullbacks
Bitcoin price has broken the $100,000 barrier and is currently trading near $104,459. The bullish momentum remains strong, with resistance levels identified at $106,750 and $107,300.
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The Relative Strength Index (RSI) indicates an overbought condition, suggesting the possibility of short-term corrections.
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However, if the upward momentum continues, Bitcoin could test the next resistance at $109,588.
Ethereum (ETH): Momentum Boosted by Recent Upgrade
Ethereum is trading around $2,571 after breaking above the key resistance level of $2,500. This bullish momentum is supported by positive sentiment following the recent Petra upgrade.
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Next resistance levels stand at $2,650 and $2,700.
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Support levels are at $2,540 and $2,500.
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Technical indicators favor continued upward movement.
Solana (SOL): Poised for Further Gains with Bullish Pattern
Solana’s price is stabilizing near $176.56.
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A breakout above $180 could propel prices towards $189, and potentially $200.
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Support is seen in the $171-$173 range.
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Bullish technical formations, including a flag pattern, suggest more upside if buying pressure persists.
Market Outlook: Positive Sentiment Amid Potential Corrections
Overall sentiment in the cryptocurrency market remains positive. Traders should remain cautious of possible short-term pullbacks due to overbought RSI levels across several assets.
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Key resistance levels are being tested.
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Breakouts beyond these levels could open doors for further gains in major cryptocurrencies.
