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Bitcoin Eyes $90K as Ethereum Rebounds on Upgrade Hopes, but Caution Lingers
Bitcoin (BTC) is currently trading within a range of $82,000 to $92,000, with a midpoint estimate of $85,000.
It shows bullish momentum, having broken out of a falling wedge pattern and securing a weekly close above critical moving averages like the 200-day and 21-day EMAs.
This suggests strong buyer support at current levels. Resistance at $88,000 serves as a psychological barrier; a decisive break above this level could shoot BTC toward $90,000 and beyond.
On the downside, $82,000 acts as a strong support zone. Market sentiment remains cautiously optimistic, driven by potential macro factors such as a dovish Federal Reserve or pro-crypto policies.
However, bearish divergences on higher time frames temper the overall upside potential, keeping traders on their toes.
Ethereum (ETH), on the other hand, is trading between $1,900 and $2,200, with a midpoint estimate of $2,000.
ETH’s recent 4.3% weekly gain and a green close after three consecutive weeks of declines indicate a potential momentum shift.
This is further supported by anticipation of the upcoming Pectra upgrade, which could bolster the network’s scalability and functionality.
Key support lies between $1,900 and $2,000, while resistance is positioned at $2,200 to $2,300.
While the upgrade and ETH’s slight outperformance against BTC have fueled optimism, longer-term weakness—such as the 200-day moving average trending downward—limits significant gains unless reversed.
Both assets reflect a market that’s balancing optimism with caution. Bitcoin’s technical strength and Ethereum’s upgrade-driven momentum highlight opportunities, but broader market conditions and technical indicators suggest a need for vigilance as traders navigate these ranges.
Ryan Lee, Chief Analyst at Bitget Research
Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Kriptoworld.com accepts no liability for any errors in the articles or for any financial loss resulting from incorrect information.
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