Bitcoin price broke above its 200-day Exponential Moving Average (EMA) at $85,000 early last week, rallying 11.14% until Friday. However, BTC failed to close above its March high of $95,000 and hovered around this level in the last four days. At the time of writing on Wednesday, it continues to stabilize around the $95,000 level.
TRON’s price bullish outlook may be at risk, teetering on the brink, as the immediate support from the 50-day EMA near $0.24 shows signs of faltering. Its upside is capped under $0.25, the red-shaded area on the daily chart. At the same time, the RSI indicator is retracing from recent highs of 66.77 and approaching the midline (50), indicating a potential increase in sell-side pressure.
Ethereum price outperforms Bitcoin on Tuesday, with a 2% rally to the new monthly timeframe peak of $1,837. Derivatives markets data shows the ETH upswing coincides with traders closing large volumes of short positions. Could BlackRock’s record-breaking Bitcoin haul support ETH’s next price breakout towards $2,000.
