Over the past week, Bitcoin rebounded from support near $111,673 and briefly touched $117,000, while Ethereum surged past $4,000 before cooling to around $3,963 at press time. Despite these gains, analysts remain cautious, pointing to seasonal market weakness and a lack of major macroeconomic catalysts.

Bitcoin – Consolidation or Breakout Ahead?

BTC’s recovery has been supported by a bounce in momentum indicators, but price action remains capped below heavy resistance. If bulls manage to push the price decisively above $117,500, the next upside target could be $120,000–$122,000.

However, failure to break higher may result in a drop back toward the $112,000–$110,000 zone, especially if macro sentiment sours.

Ethereum – Pullback or Push Beyond $4K?

ETH has been showing strong short-term momentum, with the RSI holding near 59 and MACD still in positive territory. Earlier today, it reclaimed $4,000 for the first time in weeks before facing selling pressure.

On the bullish side, a sustained move above $4,050 could open the door to $4,200 and potentially $4,350 if buying volume accelerates. Conversely, a dip below $3,900 might signal a return to the $3,750–$3,700 support range.

Market Factors to Watch

Analysts from 10X Research note that while on-chain activity for Ethereum has improved, much of the recent price action is sentiment-driven rather than based on fundamentals.

For Bitcoin, potential policy moves—such as U.S. President Donald Trump’s efforts to expand crypto investment options in retirement accounts—could provide a medium-term catalyst, though market reaction has so far been muted.

With both BTC and ETH sitting at critical inflection points, traders should expect heightened volatility in the coming sessions. A decisive breakout or breakdown from current ranges will likely set the tone for the rest of August.

The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.

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Filed under: Bitcoin - @ August 8, 2025 5:30 pm