Bitcoin and Ether are moving toward their formidable overhead resistance levels, signaling that the bulls are focused on taking control.
Bitcoin and Ether are finding buyers at higher levels, indicating that the respective overhead resistance levels are weakening and new all-time highs could be on the way.) cleared the $70,000 psychological barrier on May 27 after a three-day struggle. This suggests that the bulls remain in control. However, some analysts do not believe a breakout is likely in the near term. Analyst Rekt Capital highlighted that the) exchange-traded funds have shifted focus to Ether.
On the other hand, if the price turns down sharply from the overhead resistance and breaks below the moving averages, it will signal that the pair may remain stuck inside the $59,600 to $73,777 range for a while longer.The bulls are trying to maintain the price above $3,950. If they manage to do that, the ETH/USDT pair could rally to the stiff overhead resistance of $4,100. If bulls clear this barrier, the pair may pick up momentum and surge toward $4,868.
On the other hand, if the price turns down and breaks below $162, it will signal that the bulls have given up. That could start a downward move to $140 and later to $126. The bulls are expected to defend this level with vigor.) started a bounce off the 20-day EMA on May 24, but they could not build upon this strength. This shows that the recovery attempts are being sold into.The bears will try to strengthen their position by pulling the price below the moving averages.
On the downside, a break and close below $6 will suggest that the bears have the upper hand. That could start a decline to $5.50 and thereafter to $4.72. A strong bounce off this level will suggest that the pair may remain inside the range for some more days.) has been oscillating near the $0.17 level for the past few days, indicating a tussle between the bulls and the bears.The upsloping 20-day EMA and the RSI above 58 suggest that the path of least resistance is to the upside.
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