Recently, the cryptocurrency market has shown active price fluctuations, attracting interest from investors and analysts. This article analyzes current trends and forecasts for Bitcoin, Ether, and other popular altcoins.
Current Market Situation for Bitcoin
Bitcoin (BTC) has continued its pullback, indicating profit booking by short-term traders. Analyst Captain Faibik noted that BTC could drop to the key psychological zone of $98,000 to $100,000 in case of an 'extreme bearish flush.' Nevertheless, there is an anticipated upward trend in prices over the coming months. Canary Capital CEO Steven McClurg stated that there is a greater than 50% chance of Bitcoin reaching the $140,000 to $150,000 range this year.
Predictions for Ether and Other Altcoins
Ether (ETH) is also showing a negative trend, having fallen below support at $4,368. The key level for Ether that needs to hold is $4,094, as a break below this could lead to further declines to $3,745 and $3,523. Other altcoins, such as XRP and BNB, show mixed dynamics, with critical levels of support and resistance important for short-term trading. For example, XRP has resistance at $3.10 and support at $2.94, which are crucial.
General Overview and Predictions for Stock Market
The S&P 500 index (SPX) shows a strong upward trend, yet there is a negative divergence on the relative strength index (RSI), which could indicate an upcoming correction. If the index falls below the 20-day exponential moving average (6,370), this might accelerate selling pressure. In this case, the index could be expected to decline towards the 50-day simple moving average (6,237). An opposite scenario may occur if buyers push the index above 6,500, signaling further growth.
The current situation in the cryptocurrency and stock markets suggests possible corrections and established support and resistance levels for key assets. Investors should closely monitor price fluctuations to adapt their strategies to the changing market conditions.
