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The cryptocurrency markets continue to see movement this week, with selling pressure resurfacing in the past 24 hours following a rebound in buying activity. On Wednesday, Bitcoin surged to near $59,500, while Ethereum tested the $3,150 mark.
This morning, Bitcoin is seeking stability around $57,800, marking about a 3% decline from Wednesday's highs. Ethereum, on the other hand, is trading near $3,090, showing a 2% decrease from its peak as it awaits ETF approval in the U.S.
Cryptocurrency
Current Price
24-Hour Change
200-Day Moving Average
Key Levels
Bitcoin (BTC)
$57,800
-3%
$58,900
Support: $57,000,
Resistance: $59,500
Ethereum (ETH)
$3,090
-2%
$3,120
Support: $3,000,
Resistance: $3,150
Bitcoin's 200-day moving average stands at $58,900, and Ethereum's at $3,120, providing crucial signals for price trends. These levels are pivotal in determining market sentiment and potential price movements.
Despite a slowdown in upward momentum, Bitcoin has not faced significant selling pressure. The $57,000 level has emerged as a key support, with resistance seen near $59,500 in the short term.
This week has seen inflows into BTC ETFs, but analysts caution against potential sales from Mt. Gox and German miners, which could accelerate selling if the $56,500 support level is breached.
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