Bitcoin and Ethereum Consolidate as Breakouts Loom

Bitcoin and Ethereum Prepare for Breakout

Bitcoin and Ethereum– Bitcoin (BTC) is trading around $105,706, down 0.2% intraday, as the asset continues consolidating within a tight range. BTC has seen a daily high of $106,368 and a low of $105,110, indicating growing pressure around key support and resistance zones.

Key Levels to Watch

Support is forming between $105,400–$105,700, while upside resistance lies near $106,600–$107,000. A breakout beyond these boundaries could trigger heightened volatility. Notably, the Golden Cross pattern formed in early June—when the 50-day moving average crossed above the 200-day—has historically signaled bullish momentum.

BTC is currently trading within a symmetrical triangle, with a breakout increasingly likely. A sharp upward move could liquidate nearly $15 billion in short positions, potentially propelling BTC toward the $117,000–$125,000 zone. On the downside, support around $97,100, which marks the Short-Term Holder cost basis, remains strong.

Institutional Confidence Growing

Institutional and corporate demand continues rising. Over 80 public companies now hold around 3.4% of the total BTC supply, and projections suggest that corporate demand could exceed $330 billion by 2029. The U.S. government reportedly holds 200,000 BTC, adding further credibility to Bitcoin’s role in global finance.

Ethereum (ETH) Eyes Resistance Zone

Ethereum (ETH) is trading at $2,489, down 1.1% for the day. Support lies at $2,460–$2,485, with resistance near $2,532–$2,540. This area aligns with the 50-day EMA and recent swing highs.

Ethereum (ETH) remains in a tight consolidation range, with neutral RSI (55–60) and a mildly bearish MACD. A recent 350,000 ETH transfer to exchanges has raised short-term concerns. However, over 32.8 million ETH is now staked, reflecting long-term holder confidence.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.