Standard Chartered Lowers Bitcoin and Ethereum Targets Again
- Target Revision: Standard Chartered has lowered its Bitcoin price target for 2026, reflecting weak macroeconomic conditions and shifting investor behavior, with the latest forecast indicating a significant drop from previous expectations, potentially impacting market confidence.
- ETF Outflows Impact: The bank noted that substantial net outflows from US spot Bitcoin ETFs have weakened demand for digital assets, exacerbating downward pressure on prices and potentially leading to continued price declines.
- Economic Environment Concerns: Slowing US economic momentum and reduced expectations for Federal Reserve rate cuts have placed greater pressure on digital assets, with investor uncertainty regarding future interest rate policies potentially affecting market liquidity.
- Market Stability: Despite the more conservative forecasts, Standard Chartered emphasized that the current downturn appears more orderly than previous market collapses, with on-chain activity data showing improvement, indicating healthy network usage and no high-profile platform failures like those seen in 2022.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC 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, BTC 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 $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 43069.97 | 51534.985 | 60041.49 | 68506.505 | 77013.01 | 85478.025 | 93984.53 |
| Fibonacci | 51534.985 | 58018.106 | 62023.384 | 68506.505 | 74989.626 | 78994.904 | 85478.025 |
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