The Bitcoin price and the entire crypto market have been oscillating under the pressure of tariff wars ignited by US President Donald Trump.

The Bitcoin price and the entire crypto market have been oscillating under the pressure of tariff wars ignited by US President Donald Trump.

The Bitcoin price and the entire crypto market have been oscillating in recent times amid the pressure of tariff wars, which were initially sparked by US President Donald Trump. The initial wave of tariff increases, particularly targeting China, resulted in substantial crashes across crypto markets. However, these tariff wars are now drawing to a close, evidenced by the latest announcement concerning trade between the United States and China.

Earlier this week, the Trump administration announced a final round of tariffs on $25 billion worth of goods from China, marking the conclusion of a 17-month trade war.

The cryptocurrency market experienced a downturn on Wednesday as the US announced the final round of tariffs on goods from China, putting an 18-month trade war to an end.

Bitcoin price dropped by 0.2% in the past 24 hours and is currently trading at $103,764. A small move down from the price level. The second-largest cryptocurrency, Ethereum, also saw a decline of 1%, bringing the price to $2,530. Solana had a flat trading session, showing a rise of 0.3% and bringing the price to $174.8.

Solana price is seen struggling to rise further after a strong bullish move. The coin is currently trading at $174.8. If the price manages to break the first level of support, we can observe 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.

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.

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.