The post What’s Next for Bitcoin, Ethereum And Solana Price? BTC Eyes $70k Levels appeared on BitcoinEthereumNews.com.

Bitcoin remains above a critical price level, currently hovering just above $67,000. This position is important as it shows strength in the short term. Over recent days, Bitcoin has been forming a sideways price range, signaling a period of consolidation. Here’s a breakdown of analysis by analyst Josh of Crypto World. Major Support: Key support is found between $64,100 and $64,500, with additional support around $63,000. A substantial support zone also exists between $60,200 and $61,200. Resistance: To the upside, resistance is noted at $69,500, with further resistance levels around $72,000 and $73,500. Analyzing the volume profile, he said that major trading volume has occurred between $66,700 and $68,300, indicating a critical area of interest for traders. Market Sentiment and Momentum The daily RSI has hinted at overbought conditions, suggesting a potential cooldown phase. This cooling-off has been evident over the last week, with price movements remaining neutral. Ethereum Analysis Ethereum has recently bounced from a critical support level around $2,430, following a consolidation phase. This ascending line of support is vital as it suggests a potential reversal in the short term. Current Support: The area between $2,430 and $2,475 is significant for Ethereum, marking a strong support level. Resistance: Resistance levels are identified at $2,550 to $2,580, with major resistance found between $2,700 and $2,800. Bullish Divergence A bullish divergence has been confirmed on the 4-hour chart. Lower lows in price have coincided with higher lows in the RSI, suggesting a potential upward price movement in the near term. Solana Analysis Solana is currently experiencing a bounce from a critical support zone previously acting as resistance, between $159 and $163. This transition shows that this level is now functioning as new support. Despite the bullish structure, Solana may experience choppy sideways action over the next few days, as it…

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Filed under: News - @ October 27, 2024 4:26 am