Price Analysis View Non-AMP

Crypto Market at a Glance: Bitcoin Surges Above $59,000 & Ethereum Above $3,100, While Pepe Tumbles Down

Published by
Sahana Vibhute

The past weekend was pretty brutal, as the markets dropped heavily. The BTC price slumped below, dragging the ETH price close to $2,800. However, the trade appears to have flipped in bullish favour as the buying pressure is slowly increasing. It seems like the Mt. Gox & German terror have faded as Blackrock’s fresh accumulation of over 3000 BTC has revived the bullish hope within the markets. 

Since Bitcoin & Ethereum have entered into a bullish range, sustained growth may be expected if they hold the gains throughout the week.

The short-term price action of Bitcoin suggests the ascending trend may persist throughout the week. The price bounced from the lows a couple of times, forming a double bottom pattern and entering within the range. As the OBV is bullish, it indicates the continuation of the prevailing upswing, which could help the price to break above the resistance of the descending channel and enter the resistance zone between $62,500 & $63,200. Here, the bulls are required to demonstrate some strength to rise above $65,000, otherwise, a failure may cause the price to drop back below $60,000. 

Besides, Ethereum is trying hard to enter the bullish range, which is nearly 5% away from the current price levels. 

Ethereum has dropped below the ascending trend line, which has been acting as a strong support since the start of the year. Although the bulls have initiated a recovery, some more upswing is required to rise above the bearish influence. The RSI is rising, and MACD is close to undergoing a bullish crossover as selling pressure decreases. 

Therefore, the current trade setup suggests the ETH price may be primed to maintain a healthy ascending trend and reach the pivotal resistance above $3,200. Moreover, the bulls are expected to withstand the bearish pressure here, elevating the levels above $3,400 in a short while now. 

Read Also: MicroStrategy Pushes Forward with Bitcoin Strategy Despite Market Crash

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

Recent Posts

Bitcoin ETFs Face $100M Outflows as Markets Plunge Following Trump’s Tariff Shock

On Thursday, U.S. spot Bitcoin ETFs faced $99.86 million in net outflows as the stock…

April 4, 2025

Ethereum (ETH) Price Prediction for April 2025

Ethereum (ETH/USD) price held a crucial support range between $1,755 and $1,800 as the United…

April 4, 2025

Why Crypto Is Down Today: Traders React to Tariffs, Eye Fed’s Next Move

The crypto market has hit a rough patch, slipping to $2.65 trillion after a 1.02%…

April 4, 2025

Crypto Awaits Fed Rate Cut Decision Amid Recession Fears

Crypto markets went on a rollercoaster ride this week as investors reacted to President Trump’s…

April 4, 2025

Zoomex Review: The New Crypto Exchange with Many User-Focused Features

Since launching in 2021, Zoomex has quickly made a name for itself as a crypto…

April 4, 2025

Bitcoin Price Prediction 2025- BTC Price May Revamp Bull Run Only After Reaching These Levels

The crypto markets were heavily consolidating ahead of Trump’s Liberation Day, where new tariffs were…

April 4, 2025