This article is dedicated to the analysis of support and resistance levels for Bitcoin and Ethereum, as well as the expansion of analytical tools by Glassnode.
Key Support and Resistance Levels for Bitcoin
Currently, Bitcoin's support level is at $79,000, where approximately 40,000 $BTC has been invested. This indicates that many investors are protecting this price point through buying actions. The resistance level is set at $82,080, where 51,000 $BTC have changed hands. If Bitcoin maintains its level above this zone, the next target may be $83,500, where 48,500 $BTC are positioned.
Key Support Levels for Ethereum
Ethereum is trading in a range of $1,548-$1,599, where these levels hold up to 793,000 and 732,400 $ETH respectively. The support level for Ethereum stands around $1,461, with a recent transfer of 380,000 $ETH, which could help mitigate risks in the event of continued bearish pressure.
Expansion of Glassnode Analytics
Glassnode has announced the expansion of its Cost Basis Distribution analytics to include support and resistance data for Ethereum ($ETH), ERC-20, and SPL tokens. This analytics provides a clearer understanding of digital asset behavior and highlights supply concentration within the market.
The analysis of support and resistance levels for Bitcoin and Ethereum provides valuable insights into market trends and investment conditions in cryptocurrencies. The expanded analytical tools from Glassnode open new perspectives for monitoring price dynamics.
