Bitcoin Surges Above $93,000 as Global Markets React to Geopolitical Developments
- Market Rebound: Bitcoin surged over 2% to reach $93,204 on Monday morning, marking one of the year's first strong price movements, indicating renewed investor interest in risk assets, particularly with traditional markets closed.
- Other Cryptocurrencies Rise: Ethereum climbed to $3,194, while major cryptocurrencies like XRP, BNB, and Solana recorded increases between 2% and 5%, reflecting a generally positive market sentiment that is attracting more investors to reshape their portfolios.
- Macroeconomic Impact: Analysts note that geopolitical factors could increase volatility in global markets, with cryptocurrencies emerging as preferred tools for rapidly absorbing these fluctuations, especially during traditional market closures.
- Liquidation Wave: Approximately $141 million in short positions were liquidated within just four hours, demonstrating the market's rapid responsiveness, while investors closely monitor upcoming Fed meeting minutes and U.S. unemployment claims to assess price sustainability.
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Technical Analysis for ETH
Technical Sentiment Analysis for Ethereum (ETH) As of , Ethereum (ETH) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for ETH stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, ETH is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Ethereum (ETH) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 728.967 | 1238.383 | 1695.807 | 2205.223 | 2662.647 | 3172.063 | 3629.487 |
| Fibonacci | 1238.383 | 1607.716 | 1835.89 | 2205.223 | 2574.556 | 2802.73 | 3172.063 |
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