Bitcoin bulls have prevented the coin from falling below $60,000 since Thursday. This is a strong bullish sign, suggesting that most investors continue to anticipate an upward move in the coming days.
Bitcoin spot ETFs have processed significant inflows this week after bleeding massively last week. According to a report from Farside Investors, ETFs have recorded $47 million in net inflows over the past seven days.
Meanwhile, Santiment says Bitcoin’s failure to cross above $73,767 has caused bullish sentiments on the coin to decline across top social media platforms in the last few weeks. The company adds that the fall in trader euphoria signals a market bottom and that we may see Bitcoin turn up soon.
Alongside Bitcoin, Ethereum is another cryptocurrency that analysts believe could rally soon thanks to the spot Ether ETFs, which might start trading on US soil as early as next week. Bitwise executive Matt Hougan wrote an X post claiming that Ethereum ETFs could process net inflows worth over $15 billion within a year of their launch.
That said, let’s study the price charts to determine the important levels we need to watch over the coming days.
Bitcoin Price Analysis
The $62,454 resistance has been tough for the bulls to overcome this week. However, the good thing is that the $60,000 support hasn’t crumbled yet. If the bulls eventually manage to cause a rally above $62,452, they might defeat the bears at $64,598 to fuel another surge toward the $69,823 resistance level.
On the negative side, if $60,000 crumbles, the bears will gain a massive advantage over the bulls and may drag Bitcoin toward $56,458 and later sink it to $50,320.
Ethereum Price Analysis
The current price action suggests that sellers are still active at high prices. Over the past 24 hours, Ethereum has plummeted from $3,476 to $3,358. If sentiment around Ether stays negative in the next few days, the bears are likely to launch an attempt to tug the coin below the $3,281 support to increase their chance of forcing a bearish move to $3,000.22.
Our positive assumption is that if Ethereum surpasses the 20-day Exponential Moving Average of $3,409.90, it will mean that the bulls have taken control, and the digital currency may then rally toward $3,722.57 after breaking above a minor barrier at $3.508.
BNB Price Analysis
While the bulls have safeguarded the $559 support level since Wednesday, the bears are still determined to block any attempts of a rally above the 20-day Exponential Moving Average of $593.23. However, when BNB eventually crosses that key resistance level, the bulls could fuel a price pump to $636, where the bears will be waiting to mount a tough defense.
Meanwhile, if BNB closes below $559, the bears will become stronger and may cause the coin to plummet toward the $535.48 support level, which, if not protected, a move to $493.99 becomes possible.
Solana Price Analysis
After asset management firm VanEck revealed its filing for Solana spot ETF earlier this week, SOL surged 11%, crossing above the 20-day Exponential Moving Average of $144 on Thursday morning. However, the buying activity has cooled down in the last 24 hours. Solana trades at $143.21, with the bears now targeting to fuel a drop to $116.49.
The bulls, on the other hand, have to thrust SOL above the 50-day Simple Moving Average of $155.45 to start a solid rally. As such, the coin could grow to $189.55 and then to $206.03.
XRP Price Analysis
The XRP buyers have protected the $0.46072 support with all their might since the start of the week. The digital asset is currently valued at $0.48923. If it manages to cross above the 50-day Simple Moving Average of $0.50559, a rally to the $0.57888 resistance and then to $0.63429 might happen.
Alternatively, the prospects of a drop toward the $0.41167 critical support will increase if $0.46072 gives way.
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