Ethereum (ETH) and Bitcoin (BTC) Approach Key Technical Levels as the Cryptocurrency Market Shows Mixed Signals

Cryptocurrency Market Analysis: ETH Tests Resistance, BTC Confirms Bullish Breakout

The cryptocurrency market is displaying mixed signals on Monday, with Ethereum (ETH) encountering a crucial technical level and Bitcoin (BTC) continuing its bullish momentum following a breakout.

ETH Tests Resistance at $3,510, Bearish Momentum Below

After rising to test the key resistance at $3,510, ETH is facing increasing technical pressure. The price has been consolidating below this level, and technical indicators suggest continued negative momentum.

The stochastic oscillator is signaling bearish pressure, indicating a potential pullback in the near future. If this bearish trend continues, ETH could target the $3,222 level as the first key support zone.

However, a break above the $3,510 resistance would negate the bearish outlook, leading ETH towards higher targets, with $3,680 being the initial resistance to watch.

For today, ETH is trading within a range of $3,320 (support) and $3,590 (resistance), with the overall trend remaining bearish unless there is a breakout above the $3,510 resistance level.

BTC Confirms Bullish Breakout Above $95,195

After ending yesterday's trading session above the critical $95,195 mark, BTC has confirmed the beginning of a bullish wave in both the intraday and short-term timeframes. With this confirmation, BTC is targeting $99,000 and potentially $102,000 as its next main resistance levels.

The EMA50 support level has further reinforced the expectation of continued upward momentum for BTC.

The key level to watch is $95,195. A failure to maintain this level could signal a return to bearish trends. However, for now, the outlook is bullish, with BTC likely to test higher resistance levels in the coming sessions.

BTC is expected to trade within a range of $95,000 (support) and $99,000 (resistance) today. If BTC can maintain its current bullish momentum, it could extend its gains and challenge the next key resistance levels.

Market Sentiment: Bullish and Bearish Trends for ETH and BTC

As ETH tests its resistance and BTC confirms its bullish breakout, traders are closely monitoring these key levels to predict the next moves.

ETH's potential for a bearish correction or bullish breakout depends on its ability to break above $3,510, while BTC's near-term direction remains bullish as it holds above $95,195. Both cryptocurrencies are in key positions to make significant moves as 2025 begins.

With mixed trends, it’s clear that both ETH and BTC are at critical junctures in their price movements. ETH could face further declines if it fails to break above $3,510, while BTC's rally could continue toward new resistance levels if the bullish trend holds strong.