Standard Chartered Maintains $100K Bitcoin Target Amid Selloff
- Bitcoin Target Unchanged: Standard Chartered analyst Geoffrey Kendrick maintains a year-end target of $100,000 for Bitcoin, despite its drop to $59,000 and subsequent rebound to $63,500, indicating that this may mark the cycle's low and signal the end of the crypto winter.
- Ethereum Target Intact: Kendrick also keeps the Ethereum target at $4,000, even as ETH trades around $1,665, expecting it to outperform Bitcoin, which reflects strong demand linked to stablecoins and on-chain settlements despite recent price weakness.
- Liquidity Pressure: Kendrick highlights that the recent selloff was driven by forced selling, weak ETF flows, and liquidity stress, which have significantly impacted the market, indicating that stronger ETF inflows and institutional demand are necessary to support Bitcoin's recovery.
- Strategic Demand Factors: Market participants are monitoring whether Michael Saylor's company will continue absorbing Bitcoin supply, with Kendrick noting that Bitcoin needs to hold above $59,000 and see ETF inflows return to confirm signs of market recovery.
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Technical Analysis for ETH
Technical Sentiment Analysis for Ethereum (ETH). As of , Ethereum (ETH) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 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 | 1187.9 | 1346.79 | 1502.72 | 1661.61 | 1817.54 | 1976.43 | 2132.36 |
| Fibonacci | 1346.79 | 1467.051 | 1541.349 | 1661.61 | 1781.871 | 1856.169 | 1976.43 |
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