U.Today – One of the most anticipated technical indicators in the cryptocurrency market, the golden cross is approaching . This pattern — where the 50-day moving average crosses the 200-day moving average — is commonly interpreted as a bullish indication of a possible enhance in momentum.
Traders and investors are closely watching this crossover, which could trigger another major rally, as Bitcoin is currently trading around $62,000. Technical indicators alone are likely not enough to break through the resistance at $65,000. The psychological barrier of $65,000 has proven hard for Bitcoin to break through in recent attempts.
To overcome this obstacle, Bitcoin currently needs a recent wave of enthusiasm and market momentum. According to the 100-day EMA, the next support level for Bitcoin is located at $60,500. When the price tested this significant level of stability in the recent market declines, it provided support.
The $59,500 region, where buyers have been regularly intervening to support the price, would be another downside target to watch if BTC is unable to sustain above it. While an approaching golden cross is generally a very bullish signal, an early breakout is not guaranteed. The market will still need external influences, such as increased buying interest or encouraging macroeconomic news, to push Bitcoin above the key $65,000 barrier.
looks up
As it continues to trade above the 50-day EMA, a key indicator of market strength, Ethereum (ETH) is showing signs of a sustained uptrend. ETH has maintained its bullish momentum after breaking above this significant moving average; at the time of writing, it is trading at around $2,646.
This development is encouraging for Ethereum’s performance as it suggests the market could turn bullish again. Trading volume has been steadily degenerating despite this technical success. This drop in volume could be a sign of weakening purchasing power, raising the question of how long this uptrend can last.
Ethereum may struggle to rally in the near future without the trading volume required to support additional expansion. A pullback to $2,600 seems likely given the state of the market. Ethereum could also enter a period of consolidation or sideways trading as investors wait for more significant momentum.
Ethereum will likely trade between $2,400 and $2,650, which will create a tight range where price action could stabilize before making another significant move. For buyers to enter if the price pulls back further, the $2,500 level will act as key support during this phase. The asset will need a immense enhance in volume to break through and attempt another move higher when Ethereum meets resistance at $2,700 up.
Binance is moving forward
Finally, the 65-day resistance level that had been holding (BNB) in a tight range was broken. After repeated attempts to break out, BNB rose above $600, marking a major psychological and technical turning point. While the breakout is encouraging, BNB does not seem to have the necessary momentum to extend this rally without a pullback.
BNB has struggled to maintain the upside momentum required to break above the $610 barrier and is currently trading around $602. With trading volume seemingly stabilizing after the initial surge, this level is the next resistance point and failure to break above it could trigger a pullback. The next support level for BNB is around $585, which aligns with the 50-day EMA.
This level is key to preserving the bullish structure that has developed if BNB does indeed pull back. A break below this level could indicate a longer correction that could take BNB back to the $550-$560 region, where the 100-day EMA offers stronger support. Regardless, a breakout is still a good thing as it shows that BNB can break through significant resistance levels.
To continue rising, BNB will need a recent wave of investor interest or a positive macro Catalyst as the market as a whole also begins to leisurely down. With the next significant target located near $650, traders should keep a close eye on the $610 level as a sustained move above this resistance could pave the way for additional gains. Until then, a lack of momentum could keep BNB range-bound or cause a minor pullback.
