Recently, the cryptocurrency market has shown significant volatility. Ethereum encountered a substantial pullback after reaching the target price of $4850, with the price dipping to around $4600 at one point. This trend seems to confirm that certain strategies anticipated by market participants are coming into play.



In terms of Bitcoin, the market is currently closely watching two key support levels. The first, more aggressive support level is at $114,888; if this level is not maintained, the next support level will appear around $113,200. It is noteworthy that $112,000 is considered an important psychological barrier; if this level is breached, it could trigger further declines into the $100,000 range. However, if these support levels can effectively hold, Bitcoin still has the potential to aim for a target price of $120,000.

The price trend of Ethereum has shown more volatility. After reaching a high of $4850, there was a noticeable pullback. Currently, market participants are focusing on two important support levels: the first, a more aggressive support level at $4568, and the second, a more reliable support level at $4470. It is worth noting that only if the price falls below $4350 could it trigger a larger-scale dip.

Overall, the current cryptocurrency market is at a critical technical position, and investors need to closely monitor the performance of these support levels to assess the potential direction of the market in the short term. At the same time, it is important to be aware of the market's high volatility, and effective risk management is crucial.
ETH-0.78%
BTC-1.23%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 4
  • Repost
  • Share
Comment
0/400
ChainPoetvip
· 19h ago
Again, it's the familiar play of the bull run speculators.
View OriginalReply0
ETHReserveBankvip
· 19h ago
The wheel battle begins!
View OriginalReply0
GasFeeLovervip
· 19h ago
What support level? A fall is just a fall.
View OriginalReply0
DEXRobinHoodvip
· 19h ago
Be a bottom-fishing retail investor
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)