Bitcoin ($BTC/USD) Analysis:
Is currently consolidating its earlier gains below the strong resistance zone between 65K and 68K. A breakout above the upper boundary of a rising trend channel has initiated a significant price movement towards this resistance area. The 60K level remains a crucial support and inflection point.
Ethereum ($ETH/USD) Analysis:
Long-term resistance is at the 4,400 level, with the uptrend remaining intact. The potential upward trend line provided support around the 2,800 level, where minor lows also held, leading to a sharp rebound for ETHUSD. Bullish setups will be considered once the price clears the horizontal resistance at 4,400. In the short term, the price may form a cup and handle continuation pattern, with the handle currently in progress. The resistance for this pattern is at the 4,000 level..
Ethereum/Bitcoin (ETH/BTC) Analysis:
The monthly ETHBTC chart is at a critical support level. Typically don't rely on breakout/breakdown signals through diagonal boundaries, a trendline with several touchpoints can be valid and recognized by market participants as a level that can alter the demand/supply relationship. The trendline and horizontal support are overlapping around the 0.05 level. A breakdown below 0.05 could reverse the current uptrend, potentially leading to significant underperformance for ETH compared to BTC. The potential price target for the rectangle pattern is around 0.029. Since this is a monthly scale chart, I will monitor it for an end-of-month close below 0.05. An ideal breakdown signal would come with a long black candle. The strong monthly close in May confirms the sharp reversal from support and suggests that the price could continue consolidating between 0.05 and 0.08. For those who trade within well-defined boundaries, this chart offers a favorable risk-to-reward ratio.
Support Levels to Watch Based on Daily Chart:
Bitcoin ($BTC):
Support: $60,500 area
Resistance: $66,600 area
Ethereum ($ETH): Support: $3,300 area Resistance: $3,700 area
Ethereum ($ETH)/BTC: Support: 0.05 Resistance: 0.062
Alt Coins Daily Chart Levels to Watch :
$SOL: Support at $125 $BNB: Support at $550 $JASMY: Support at 0.0260 $NEAR: Support at $4.50 $INJ: Support at $18 $FET: Support at $1.15 $TRX: Support at 0.11 $MKR: Support at $2200 $LINK: Support at $12.50 $PENDLE: Support at $4.95 $BCH: Support at $350 $NEXO: Support at $1.20 $RNDR: Support at $6.40a
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