The Bitcoin price and the entire crypto market have been oscillating under the pressure of tariff wars ignited by US President Donald Trump. The initial wave of tariff increases on countries such as China triggered massive crashes across crypto markets. However, the tariff wars are nearing their end with the latest announcement regarding trade between the United States and China.
Bitcoin recently jumped above the $1,00,000 barrier for the first time since February, fueling investor sentiment to new all-time high levels.
At the time of writing, Bitcoin trades at $1,03,800, reflecting a 0.2% dip, Ethereum at $2,530, with a dip of 1% and Solana trading flat, around 0.3% at $174.8 over the past 24 hours. In this overview, we will analyse the key technical levels and trend directions for Bitcoin, Ethereum, and Solana to monitor in the upcoming trading sessions. All charts mentioned below are based on the 15-minute timeframe.
Bitcoin Chart Analysis & BTCUSD Price Action.
Bitcoin’s price is finally trading above $1,00,000 after a sharp decline. It is currently trading around $1,03,800 with a first level of support at $1,03,086. If the price manages to break this level, we can see a downfall to the next support at $1,01,441, and a decline in price below this level will push the price to fall to the price level at $1,00,647.
On the upside, we can see in the chart that the first level of resistance is at $1,03,764, followed by the next resistance at $1,04,838 and $1,05,825. If the price manages to break above this level, we can observe a good price movement upside. As the 1st resistance level is broken, we can observe the strong bullish movement.
Ethereum Chart Analysis & ETHUSD Price Action.
After a strong reversal from its lows, Ethereum has jumped over the $2,500 mark for the first time since March, now it is inching towards new highs. Ethereum is currently priced at $2,530. If the price manages to break below the first level of support at $2,499, we can observe the price moving towards the next price level at $2,453 and $2,419. Also, if price manages to break these levels, we can observe a further downside.
On the upside, we can see resistance to the price action at levels $2,529, $2,564, and $2,610. If the price of Ethereum manages to break the first level of resistance, we can see an upside price movement to the next level of resistance, as shown in the chart.
Solana Chart Analysis & SOLUSD Price Action.
With a strong bullish momentum in the Alt coins, Solana is inching towards its recent highs with its strong technical strength. The coin is presently trading at $174.8. If the price manages to break the first level of support at $169.9, we can see a bearish trend. The next level of support is at $166.15. If the price fails to hold this level, we can observe a free fall to the next support to 161.00.
On the upside movements, we can observe key resistance levels at $174.8, $177 and $180.3. If price manages to break the first resistance levels, we can observe further price movements to the next resistance levels.
Trade setup Summary.
Currently, the cryptocurrency market is experiencing a sideways trend after a strong bullish momentum. If the price of the cryptocurrency successfully breaks through these resistance levels, we can anticipate a stronger upward trend to a sideways trend in the upcoming trading sessions. However, if the resistance levels remain intact, the market may shift into a bearish trading session.
Traders should consider these key support and resistance levels to enter long or short positions following the price break from the key levels. Also, traders can combine moving averages for more accurate entry and exit points. For more news updates, visit Trade Brains.
