Recent price fluctuations of Bitcoin and Ethereum have garnered the attention of investors. Bitcoin has recovered, and Ethereum has reached a new level.
Current Situation with Bitcoin
Over the past week, Bitcoin rebounded from support near $111,673 and briefly touched $117,000. The recovery is supported by a bounce in momentum indicators, but price action remains capped below heavy resistance. Analysts note that if bulls manage to push the price decisively above $117,500, the next upside target could be $120,000–$122,000.
Ethereum: Growth and Potential
Ethereum has been showing strong short-term momentum, with RSI holding near 59 and MACD still in positive territory. Earlier today, it reclaimed $4,000 for the first time in weeks before facing selling pressure. A sustained move above $4,050 could open the door to $4,200 and potentially $4,350.
Market Influencing Factors
Analysts from 10X Research note that while on-chain activity for Ethereum has improved, much of the recent price action is sentiment-driven rather than based on fundamentals. For Bitcoin, potential policy moves, such as U.S. President Donald Trump's efforts to expand crypto investment options in retirement accounts, could provide a medium-term catalyst.
Given the current situation, both Bitcoin and Ethereum are at critical levels, which could lead to heightened volatility in the coming days. A decisive breakout or breakdown from current ranges may set the tone for the rest of August.
