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>>Technical outlook for Bitcoin and Ethereum: cryptocurrencies struggle to build momentum amid ongoing confusion

Technical outlook for Bitcoin and Ethereum: cryptocurrencies struggle to build momentum amid ongoing confusion

crypthub

1 day ago

Market Context

Bitcoin and Ethereum remain trapped in a narrow range as uncertainty over the Iran peace process persists. Digital assets are decoupling from the Nasdaq, which has reached new highs on news from the Strait of Hormuz. The fading correlation signals weakness in crypto sentiment.

Bitcoin Technical Outlook

BTC hovers near $76,000, facing resistance at the 50‑day MA (~$74,800) and the $75,000 long‑term pivot. A possible head‑and‑shoulders pattern could pull the price toward $70,000, but support at the 200‑MA (~$77,000) and the $70,000 zone remains intact. Key resistance levels include $80‑$83k, $90‑$95k, and the ultimate $124‑$126k barrier.

Ethereum Technical Outlook

ETH slipped below its 50‑day MA ($2,220) and now clings just above the $2,000 support line. Breaching $2,000 could spark a broader altcoin sell‑off, while the $1,744 level offers near‑term backing. Resistance lies at $2,400‑$2,800 and the pivotal $3,000‑$3,200 zone, with all‑time highs around $4,950.