Ethereum Price Movement

The Ethereum price experienced a significant increase above the $3,350 resistance level, outperforming Bitcoin. The bulls managed to push the price beyond $3,400, but it faced strong resistance below $3,450. The price reached a high at $3,448 before correcting its gains.

During this correction, the price dipped below the 23.6% Fibonacci retracement level of the upward wave from the $2,914 swing low to the $3,448 high. Furthermore, a break below a bullish trend line with support at $3,240 on the hourly chart of ETH/USD was observed. Currently, Ethereum is trading near $3,200 and the 100-hourly Simple Moving Average.

Resistance Levels to Watch

For Ethereum to continue its upward trajectory, it must overcome several resistance levels. The initial resistance is near $3,250, followed by a more significant barrier at $3,300. If the Ethereum price can break through the $3,320 level, it may head toward $3,400. An upward break above this region could lead to potential gains, pushing Ethereum towards the $3,450 or even $3,500 resistance zones.

Potential for More Losses?

Despite the recent surge, the Ethereum price could face further declines if it fails to surpass the $3,250 resistance level. Immediate support lies near $3,200, with a more substantial support level at $3,180, aligning with the 50% Fibonacci retracement of the recent upward wave.

A decisive move below the $3,180 support could trigger additional losses, driving the price towards the $3,150 mark. Any further decline might see Ethereum testing the next key support at $3,000.

Technical Indicators

The hourly MACD for ETH/USD is gaining momentum in the bearish zone, and the RSI is currently below the 50 mark, indicating a bearish sentiment. Major support levels to monitor are $3,180 and $3,000, while resistance levels are $3,300 and $3,400.

As the Ethereum price navigates these critical levels, investors and traders should remain vigilant for any signals of a trend reversal. The coming days will be crucial in determining the next direction for Ethereum.

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Ethereum has instigated a fresh rally, surging past the $3,750 mark. The cryptocurrency is flashing bullish signals, hinting at the possibility of an upward trend towards the $3,950 zone. Ethereum has initiated a new surge beyond the $3,750 mark.

Currently, the price is hovering above $3,650, well above the 100-hourly Simple Moving Average. A vital bullish trend line can be seen, with its support at $3,720 on the hourly chart of ETH/USD (data feed via Kraken). If the pair maintains its support above the $3,650 zone in the near term, it could trigger another increase.

Ethereum’s price has continued to rise above $3,800, outpacing Bitcoin. Gaining momentum, ETH broke through the $3,750 resistance zone, remaining in a positive zone. The bulls even pushed the price beyond $3,800, peaking at the $3,860 zone. A high was established at $3,859, and the price is now solidifying its gains above the 23.6% Fib retracement level of the upward move from the $3,031 swing low to the $3,859 high.

At present, Ethereum’s price is trading above $3,700 and the 100-hourly Simple Moving Average. A crucial bullish trend line is shaping up, with support at $3,720 on the hourly chart of ETH/USD.

On the upside, the price might encounter resistance near the $3,800 level. The next significant resistance is near the $3,860 level, with the first major resistance close to the $3,920 level. If the price makes a clean break above the $3,920 resistance, it could be propelled towards the $3,950 resistance.

Breaking above the $3,950 resistance could pave the way for further gains in the upcoming sessions. In this scenario, Ethereum could soar towards the $4,000 resistance zone and even reach $4,200 in the near future.

However, if Ethereum fails to shatter the $3,800 resistance, it could undergo a downside correction. Initial support on the downside is near the $3,720 level, with the first significant support close to the $3,650 zone. If the price dips below the $3,620 support, it could be driven towards the $3,550 support. Any additional losses could push the price towards the $3,450 support level in the near term, with the next crucial support at $3,320.

Technical Indicators: Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $3,650. Major Resistance Level – $3,860.

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Bitcoin experienced a fresh surge, crossing the $108,500 mark. The cryptocurrency is now trading above $108,500 and the 100 hourly Simple Moving Average. Furthermore, a key bearish trend line with resistance at $109,350 was broken on the hourly chart of the BTC/USD pair (data from Kraken).

Should Bitcoin maintain its position above the $108,350 zone, it could kickstart another increase. Post crossing the $107,500 resistance, Bitcoin breezed past several hurdles near $108,000, triggering a significant surge.

The bulls pushed Bitcoin into a positive zone above $108,500. The price gained momentum for a move above the 50% Fib retracement level of the downward move from the $110,515 swing high to the $107,299 low. In addition, the key bearish trend line with resistance at $109,350 on the hourly chart of the BTC/USD pair was broken.

Immediate resistance on the upside is near the $109,750 level, close to the 76.4% Fib retracement level of the downward move from the $110,515 swing high to the $107,299 low. The first crucial resistance is near the $110,000 level. If Bitcoin manages to close above the $110,000 resistance, the price could surge further. Under such circumstances, the price might aim for the $112,000 resistance level. Any additional gains might drive the price towards the $113,200 level, with the ultimate target being $115,000.

If Bitcoin is unable to surpass the $110,000 resistance zone, it could trigger another decline. Immediate support is around the $108,800 level, with the first significant support near the $108,350 level. The next support is approximately the $107,250 zone. Any further losses could drive the price towards the $106,400 support in the near term, with the main support at $105,000.

Technical indicators:

Hourly MACD – The MACD is now gaining momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $108,800, followed by $108,350.

Major Resistance Levels – $110,000 and $110,500.

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Recent market trends have been in favor of bulls, but Solana’s failure to cross the $160 mark casts doubt on this trend’s robustness. Renowned analyst Carl Runefelt highlighted that Solana is currently moving within a rising channel pattern. While this pattern typically indicates a bullish market, a failure in support could lead to a fall to lower demand zones, making the coming days crucial for SOL’s direction.

As the macroeconomic landscape improves and Bitcoin teases new record highs, it is anticipated that Solana will follow suit. However, technical indicators urge caution. A fall below the rising channel might target the $128.50 support area, whereas a successful surge above $160 could open the path to rechallenging local highs. Both traders and investors are keenly observing Solana’s next move in this high-stakes consolidation phase.

At present, Solana’s price is below the $150 mark, reflecting a significant 20% drop from its local peak in May. Despite this, the asset maintains robust support, indicating that bullish sentiment is still present. The broader market continues to be in a consolidation phase, with Solana demonstrating signs of uncertainty as it moves sideways within a narrowing price band.

Analysts remain cautiously optimistic, noting that a breakthrough above the key $150–$160 supply area could ignite renewed upward momentum. However, the current pricing structure suggests Solana might not be ready to challenge its previous highs. Runefelt mentions that Solana’s movement within a rising channel could lead to sharp price fluctuations if broken.

While rising channels can support bullish continuation, a breakdown below the lower trendline often leads to accelerated downward movements. Runefelt alerts that if Solana falls below the channel, the next significant support area is around $128.50. This level has historically served as a powerful demand zone and could be the next target if a bearish move occurs.

In the meantime, Solana’s consolidation mirrors broader market ambiguity, with traders awaiting a clear breakout or breakdown to inform their positions. A successful reclaim of the $150 level would enhance sentiment considerably, potentially paving the way for a push towards the $170–$180 range. Conversely, the inability to maintain above current levels may shift the narrative towards further downside risk.

Solana (SOL) is trading at $147.62, moving sideways within a tightening range and forming a potential rising channel pattern. The daily chart shows that SOL has been unable to decisively break above the $155–$160 resistance area, while robust support remains near the $140 level. Price activity shows repeated rejections near the 100-day moving average (blue line), which now acts as dynamic resistance around $155.60. The 200-day moving average (red) is further above at $165.54, marking a long-term resistance area.

Volume remains relatively low compared to the spikes seen in early June, suggesting market participants are awaiting a clear breakout direction. A push above $160 would likely stimulate bullish momentum, potentially opening the door towards the $170 level. However, the rising channel identified by analysts suggests a potential downside risk if the lower trendline is breached.

If Solana falls below the $145 support and exits the channel, the next target would be the $128.50 area, which previously served as a demand zone in mid-May. Until then, bulls must defend current levels and aim to reclaim the 100-day SMA to maintain the broader recovery structure. The coming sessions may offer clarity as consolidation nears its resolution.

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However, despite this short-term volatility, multiple crucial technical indicators suggest a potential bullish trend. This recent decline seems to be the final piece in a series of signals that typically precede substantial price surges. With this in mind, Bitcoin’s first price target is predicted to be $130,000.

In a post dated June 6, a market expert known as CrypFlow provided a positive Bitcoin prediction amidst the ongoing price correction. Despite the recent sharp price drop, the BTC market has been undergoing a consistent price correction since the cryptocurrency reached a new all-time high of $111,970 on May 22. According to CrypFlow, this price retracement, along with several other technical indicators, suggests that Bitcoin is primed to replicate its Q4 2024 price rally.

The first indicator highlighted by CrypFlow is the golden cross, which occurred when the 50-day simple moving average (50SMA) crossed above the 200-day simple moving average (200SMA) in early June 2025. This bullish indicator signifies a shift in market momentum and was last observed in November 2024.

In addition to this, a Bitcoin price breakout above a long-standing purple downward trendline that began in December 2024 was noticed. This breakout mirrors a similar move seen in early November 2024 when BTC breached the descending resistance that originated in March 2024.

The ongoing price correction represents the final indicator, as Bitcoin also experienced an estimated 10% price drop in November, falling from $74,500 to $68,500 before initially triggering a substantial price rally.

CrypFlow’s analysis implies that if Bitcoin replicates its Q4 2024 price rally, the cryptocurrency could see a 62% price increase, potentially reaching around $170,000. However, a more modest initial price target of $130,000, marking a 25% gain from the current market levels, has been set by the analyst.

As of press time, Bitcoin is trading at $104,850, following a 2.57% gain over the past day. Meanwhile, the asset’s daily trading volume has decreased by 19.59%. Data from prediction site Coincodex indicates that despite a Fear & Greed Index of 45, signifying Fear, the general BTC market sentiment remains positive. The Coincodex analyst team supports this market optimism, projecting a price of $134,074 in five days and $155,864 in three months.

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One seasoned market observer has reevaluated his expectations for the highly-anticipated altcoin season – a period characterized by altcoins achieving substantial gains and outstripping Bitcoin, the premier digital currency.

Benjamin Cowen, a celebrated crypto analyst and the founder of crypto analytics tool, CryptoVerse, recently expressed skepticism towards optimistic altcoin predictions. “I foresee ALT/BTC pairs being rebuffed at their bull market support band,” Cowen shared in a post with X, drawing attention to the pair’s past performance from 2018, which showed a declining reversal trend at key resistance levels.

With the majority of altcoins nursing losses, Cowen revisited his forecast, noticing that the ALT/BTC pairs were indeed turned away from the bull market support band, further pushing the asset to new lows on May 31st.

As the global crypto market cap tumbles, altcoins continue to suffer. Leading altcoins like XRP, SOL, and DOGE bore the brunt of last week’s losses, posting 7-day losses of 7.83%, 12.62%, and 16.32% respectively.

It’s worth noting that Bitcoin, the leading cryptocurrency, has also been on a downward streak for the past week. Despite reaching a new peak in May, the digital asset couldn’t maintain its upward momentum above the $110,000 mark. After a 7-day decline of 4.38%, Bitcoin is currently trading at $105,870.

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Bitcoin’s fresh slump has taken it below the $83,500 support zone. It is currently trading under $83,200, with the 100 hourly Simple moving average also showcasing a downward trend. An emerging bearish trend line with resistance at $82,750 is evident on the BTC/USD pair’s hourly chart (data from Kraken).

If Bitcoin continues to linger below the $83,500 resistance zone, it might trigger another fall. Bitcoin’s price couldn’t sustain above the $85,500 mark, leading to another decline and breaching the support of $85,000. The bearish sentiment strengthened, pushing the price below the $83,500 support zone.

The price also fell under the $82,000 mark, reaching a low at $81,586. Bitcoin is now trying to consolidate its losses, trading below the 23.6% Fib retracement level of the downswing from the $83,500 high to the $81,586 low.

Bitcoin’s price is currently under $82,500, with the 100 hourly Simple moving average also indicating a bearish trend. The immediate resistance lies near $82,000, with the key resistance around $82,750. The bearish trend line is forming resistance at $82,750 on the BTC/USD pair’s hourly chart.

The trend line is close to the 61.8% Fib retracement level of the downswing from the $83,500 high to the $81,586 low. The next significant resistance could come up at $83,500. If Bitcoin manages to close above the $83,500 resistance, it might pave the way for a higher price trajectory, possibly testing the $84,200 resistance or even reaching up to $85,000.

However, if Bitcoin fails to ascend above the $83,500 resistance zone, it could trigger another downtrend. The immediate support on the downside lies near the $81,800 mark, followed by significant support around the $81,500 mark. The next support zone is around $80,650. Any further losses might push the price towards $80,000 support in the near term. The critical support resides at $78,500.

Technical indicators:

Hourly MACD – The MACD is gaining momentum in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently below 50.

Major Support Levels – $81,500, followed by $80,650.

Major Resistance Levels – $82,750 and $83,500.

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Distinguished analyst Ali Martinez has put forward an intriguing technical analysis, indicating that Cardano seems to be tracing a pattern similar to its 2020-2021 price trajectory. Although the current pace is slower, Martinez emphasizes that the structure echoes the one that set the stage for Cardano’s meteoric rise during the previous cycle. This historical pattern saw ADA skyrocket and the current setup suggests a potential bullish breakout.

With Cardano standing at a critical crossroads, the market eagerly awaits validation of this potential trend. Investors are keeping a close eye on key price points, hoping that the technical signals and historical parallels prove valid. If Cardano replicates its past performance, it could result in a significant recovery, injecting renewed optimism into the market. The forthcoming days will be pivotal in determining whether history is indeed bound to repeat itself for ADA.

Cardano has weathered significant volatility and uncertainty in recent weeks, with its price plummeting over 20% in less than a week before rebounding by more than 25%. Currently, ADA is consolidating below significant supply levels around $0.82, reflecting market ambivalence and ongoing speculation about whether the next move will be a rally or a deeper correction. This consolidation phase has left investors anxious yet optimistic about a potential breakout that could dictate Cardano’s near-term trajectory.

An insightful technical analysis by Ali Martinez suggests that Cardano might be mirroring the price pattern seen during the 2020–2021 cycle. Although the current pace is slower, the structure is reminiscent of the run-up to ADA’s massive rally during the previous bull market. If history repeats itself, this setup proposes that Cardano might soon break free from its current range and kickstart a robust upward trend.

The prospect of such a rally hinges on Cardano reclaiming key levels above $0.82 and gaining momentum in the broader market recovery. While the market remains speculative, the similarities with past cycles provide a positive forecast for ADA. Investors are keenly observing these patterns, hoping for confirmation that Cardano is primed for a significant rally. If the historical pattern holds, ADA could soon lead the market in a strong move towards multi-year highs, infusing much-needed positivity into the broader crypto sphere.

Cardano (ADA) is currently trading at $0.78, consolidating below the pivotal $0.82 supply level. This price previously served as strong support in December but has now transformed into resistance, keeping ADA below key levels. Investors are keenly watching whether ADA can sustain its current range and breach the $0.82 resistance, confirming a momentum shift. However, market conditions remain speculative, and bulls need to act decisively to avert further declines. For now, ADA’s price trajectory relies on reclaiming the $0.82 level and maintaining momentum amidst broader market hurdles.

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The declaration of these tariffs by China is a response to the additional tariffs imposed by the U.S. on Chinese goods that came into effect today. In a translated statement, the Chinese ministry stated, “The unilateral imposition of tariffs by the U.S. gravely infringes upon the rules of the World Trade Organization.”

In the meantime, on Tuesday, the Ministry of Commerce in China declared that it will tighten export controls on goods containing tungsten, tellurium, bismuth, molybdenum, and indium, citing the necessity to protect national interests and security.

Currently, Bitcoin is trading at approximately $99,300, having recovered from a dip to around $98,500 earlier today and from $92,800 on Monday amidst a wider sell-off. After U.S. President Donald Trump announced a temporary halt on tariff threats between the U.S. and Mexico, Bitcoin saw a sharp rebound to over $100,000 on Monday.

Presto Research’s research analyst, Min Jung, told The Block, “Even though Bitcoin is often juxtaposed with gold as a digital alternative, it is still predominantly viewed as a risk asset by many investors. Therefore, the 10% retaliatory tariff by China on the U.S. is expected to exert pressure on risk assets, including cryptocurrencies, much like equities.”

“However, the initial market reaction might have been an overreaction, as evidenced by the V-shaped recovery preceding the announcement,” Jung added. “The long-term effects will hinge on whether this signifies the start of a widespread trade escalation or remains an isolated incident. Regardless, we anticipate heightened volatility as tariff-related news continues to influence market sentiment.”

Justin d’Anethan, Liquifi’s head of sales, expressed that while the initial market unease was linked to Trump’s tariffs on Mexico and Canada, “it’s becoming apparent that those were just the preliminary rounds — the real escalation is occurring with China, and potentially Europe next.”

Nick Ruck, director of LVRG Research, pointed out that a full-blown trade war could further extend the sell-off of crypto assets unless the US can negotiate a halt or delay similar to those with Canada and Mexico.

Disclaimer: The Block is an independent news source offering news, research, and data. Foresight Ventures, a major investor in The Block since November 2023, invests in various companies in the crypto sector. Crypto exchange Bitget serves as an anchor LP for Foresight Ventures. The Block remains autonomous, providing objective, impactful, and timely crypto industry information. Please see our current financial disclosures. This article is shared for informational purposes only and should not be construed as legal, tax, investment, financial, or other advice.

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“The situation is becoming increasingly challenging for the bears. We foresee Bitcoin reaching new heights by the close of this quarter,” stated Pav Hundal, lead analyst at crypto exchange Swyftx, in an interview with Cointelegraph.

Hundal noted that the Bitcoin market has reverted to the volatility levels witnessed around the time of the US elections in November. This was when the initial euphoria kicked in following Donald Trump’s presidential win.

As per the latest data from CoinMarketCap, Bitcoin is trading at $102,470. “Volatility is no longer the dominating factor and could pose a threat to speculators in the short term,” Hundal warned.

“We are in a phase where volatility seems primed to surge, which could prove perilous for both market sides,” he further added.

Prior to the announcement of the US election results, trader uncertainty led to significant liquidations. On the eve of Trump’s victory, crypto market liquidations nearly hit $350 million as Bitcoin’s price briefly fell below $69,000. This coincided with narrowing odds of Trump’s victory on Polymarket.

However, Hundal believes that the crypto market is about to step into “the most favorable policy-making era in crypto history, as apathy starts to gain ground.”

He expressed surprise at the stark contrast between the macro conditions in the crypto world and investor sentiment. On December 14, asset management firm VanEck projected that Bitcoin would reach a medium-term peak in Q1 and hit new highs by Q4 2025.

On the other hand, the crypto community is divided on Bitcoin’s Q1 performance. BitMEX co-founder Arthur Hayes speculates that Bitcoin could potentially retreat to the $70,000 to $75,000 range, possibly triggering a “mini financial crisis.”

Contrarily, Dr. Sean Dawson, head of research at Derive, opined that Bitcoin has less than a 10% probability of falling to the $75,000 level.

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