Tuesday, February 18, 2025

Bitcoin, Ether, and Altcoins Price Analysis: Bulls vs. Bears Battle Continues

Article Image

Originally published on: April 12, 2024

Bitcoin’s recent dip to $65,000 on April 12 shows that the bears are still active, but Bitcoin whales are persisting in their purchases. With the Bitcoin halving looming in less than eight days, demand from these whales has exceeded the new supply for the first time in history. This trend, coupled with inflows into Bitcoin exchange-traded funds, suggests a possible upward push for Bitcoin’s price.

VanEck’s CEO notes that 90% of the recent Bitcoin ETF inflows came from retail investors, hinting at potential institutional investments from banks and traditional firms in the coming months. And venture capitalist Tim Draper remains bullish, predicting a surge for Bitcoin to $250,000 by year-end.

As the battle between bulls and bears unfolds, let’s analyze the charts of the top 10 cryptocurrencies to gauge the market sentiment.

Bitcoin (BTC) Analysis:
Despite Bitcoin’s recent bounce above the downtrend line, the failure to sustain higher levels indicates sell pressure at every rally. The 20-day EMA flattening out and RSI nearing the midpoint suggest weakening bullish momentum. A slide below the 50-day SMA could trigger a deeper correction to $60,000, followed by $54,298. However, a breakout above $73,777 would invalidate this bearish scenario.

Ether (ETH) Analysis:
Ether’s range-bound trading between $3,056 and $3,679 signals an equilibrium between buyers and sellers. A bounce off the $3,056 support level could prolong the consolidation phase, while a drop below it may initiate a correction to $2,717. To reclaim control, bulls must breach $3,679.

Altcoin Highlights:
– BNB: Bulls aim for $692 but face resistance at $645
– SOL: Watch for a break below $162 for a larger correction
– XRP: Consolidation mode between $0.56 and $0.69
– DOGE: Upside potential to $0.21, downside risk to $0.16
– TON: Bears aiming for $6.29 support, bulls eyeing $8.56
– ADA: Bearish bias below $0.57, potential target at $0.46
– AVAX: Bulls need to breach $42 for a rally, support at $35
– SHIB: Potential rally to $0.000039 if bulls break $0.000033

Takeaways for Cryptocurrency Investors:
As the crypto market navigates through bullish and bearish dynamics, investors should stay vigilant and adaptable. While the upside potential remains promising, a cautious approach in managing risks is vital. Stay updated on market trends and developments to make informed investment decisions that align with your financial goals.

Hot this week

Study Finds 1 in 5 US Voters Engaged with Cryptocurrency

Originally published on: December 18, 2024A recent survey conducted...

Revolutionizing Blockchain Technology: Key Takeaways from G6 Networks AMA

Originally published on: December 18, 2024Gabor Bovai and David...

HashKey Group Unveils Revolutionary Ethereum Layer-2 HashKey Chain Mainnet

Originally published on: December 18, 2024HashKey Group, a pioneering...

Beware of Phishing Scammers: A Warning from Ledger’s Users

Originally published on: December 18, 2024Reports have surfaced indicating...

Avara Founder Supports Removal of Polygon Markets from Aave Platform

Originally published on: December 18, 2024Stani Kulechov, the CEO...

Topics

Study Finds 1 in 5 US Voters Engaged with Cryptocurrency

Originally published on: December 18, 2024A recent survey conducted...

Revolutionizing Blockchain Technology: Key Takeaways from G6 Networks AMA

Originally published on: December 18, 2024Gabor Bovai and David...

HashKey Group Unveils Revolutionary Ethereum Layer-2 HashKey Chain Mainnet

Originally published on: December 18, 2024HashKey Group, a pioneering...

Beware of Phishing Scammers: A Warning from Ledger’s Users

Originally published on: December 18, 2024Reports have surfaced indicating...

Avara Founder Supports Removal of Polygon Markets from Aave Platform

Originally published on: December 18, 2024Stani Kulechov, the CEO...

Crypto Communities Across the US Gear Up for Festive Meetups

Originally published on: December 18, 2024As the holidays approach...

Ethena Labs Joins Forces with Trump-Backed World Liberty Financial for Exciting Partnership

Originally published on: December 18, 2024Ethena Labs, a leading...

Unlock Your Football Skills with Cristiano Ronaldo and Binance Partnership

Originally published on: December 18, 2024Binance and Cristiano Ronaldo...
spot_img

Related Articles

Popular Categories

spot_imgspot_img