Bitcoin Weekend Rally Fails to Hold
- Market Reaction Calm: Bitcoin fell back to $78,402 after reaching an intraday high of $78,963, reflecting cautious market response to the Fed's interest rate decision, while the overall crypto market remained stable with a market cap of $2.69 trillion.
- Rate Decision Impact: The Fed's decision on April 29 to keep rates unchanged at 3.5% to 3.75% alleviated some market stress, yet uncertainty regarding future policy kept traders cautious, limiting Bitcoin's upward potential.
- Geopolitical Factors: Iran's revised peace proposal to the U.S. has created tension, with Trump's skepticism affecting market sentiment; this geopolitical backdrop has influenced Bitcoin's recovery as risk appetite improved, but traders remain alert to further developments.
- Other Crypto Performance: XRP traded near $1.39 with a 24-hour volume of about $1.15 billion, while Algorand rose approximately 9% to $0.117, indicating that Bitcoin continues to dominate the market direction as traders await a clear breakout signal.
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Technical Analysis for ETH
Technical Sentiment Analysis for Ethereum (ETH). As of , Ethereum (ETH) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 4 indicators are flashing buy, while 1 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ETH stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, ETH is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Ethereum (ETH) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 2037.267 | 2128.814 | 2221.277 | 2312.824 | 2405.287 | 2496.834 | 2589.297 |
| Fibonacci | 2128.814 | 2199.105 | 2242.532 | 2312.824 | 2383.115 | 2426.542 | 2496.834 |
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