The market saw BTC drop a few weeks ago, but things are looking up again. Looking at the most recent chart, we can see signs that Bitcoin could be on track to hit its all-time high (ATH) again.
The market saw BTC drop a few weeks ago, but things are looking up again. Looking at the most recent chart, we can see signs that Bitcoin could be on track to hit its all-time high (ATH) again.
The chart shows the price of BTC doing a 180 degree turn after a drop. The current price is around $66,902, but just a while ago, it fell to around $53,324. This lower price is what we call support level. Rally acceleration is what we are currently looking for.
On the other hand, there is a price called “resistance.” Think of it as a roof. Currently, that ceiling is near the highest price Bitcoin has ever reached, around $69,000. If Bitcoin can break through this ceiling, we could see it reach new highs.
Bitcoin has been gaining strength, moving above the orange line, which is the average price of the last 100 days. This is a positive sign. The big black line below, i.e. the 200-day average, shows that the overall trend has been up. If buyers continue to show strong interest and more people want to buy BTC than sell it, we could see the price push towards that $69,000 ceiling.
Will Solana keep moving?
Solana has been rising in value while the market was in a correction. Unsurprisingly, many people are still looking at the chart and wondering if the rally will stop in the foreseeable future.
Let’s dig into the numbers. Right now, Solana costs around $186.75. This is after a big jump from prices like $118.98, which was a strong “support” level. Support is like a floor, below which the price does not want to go down. For Solana, resistance is near $200. If the price breaks this ceiling, it could rise further, securing the ATH potential.
Trend-wise, Solana has been rising faster since it passed the average line, which is the blue one in the middle. This line is like a guide and shows the average price for 50 days. Upstairs is where Solana is now, showing that she has solid energy to ascend.
For growth, if more people want to buy SOL than sell it, the price could break above $200 and move towards the next major resistance, perhaps around $210 or higher. But remember, the prices of cryptocurrencies like Solana can be like a roller coaster, with ups and downs.
Looking ahead, if Solana can stay above the 50-day line (the blue one), and especially if it breaks above $200, it looks like the rise won’t stop anytime soon.
The promising image of Ethereum
Lately, Ethereum has been drawing a triangle on the price chart. This is not just any way; It is what traders call a “symmetrical triangle pattern.” When we see this pattern, it usually means that a big price move could happen soon, but we can’t tell if it will go up or down.
Ethereum price has been going up and down between two approaching lines. The top line goes down and the bottom line goes up. Right now, Ethereum is hovering around $3,442.7. The lines are located around the price of $3,000, which is a very important point to note.
If ETH breaks above the upper line, the price could skyrocket, possibly surpassing the recent high of around $3,575. This is the “resistance” level. But, if the price falls below the bottom line, it could drop to around $2,918 or even $2,534, which are “support” levels.
So what does this triangle tell us about what could happen to the price of Ethereum? The triangle is narrowing and soon Ethereum will have to choose a direction. Unfortunately, we cannot say whether it will be an up or down move.
