Bitcoin and Ethereum are presenting conflicting technical signals as the cryptocurrency market faces a critical juncture. Ethereum is showing signs of a potential bullish reversal, with its RSI indicating a hidden bullish divergence and a symmetrical triangle breakout suggesting a rise to $4,954, with a long-term target of $8,000. However, a drop below the 200-day moving average could undermine these bullish signals.
Conversely, Bitcoin has declined by 5.3% to $100,915, breaking below the 20-day moving average and the lower track of the Bollinger Bands. Despite this, on-chain data reveals strong fundamentals, including a near-record hash rate and $10.7 billion in stablecoin inflows. The divergence between retail and institutional positions raises concerns about a potential short squeeze or further decline below $98,000, highlighting the market's precarious state.
Bitcoin and Ethereum Show Diverging Signals Amid Market Uncertainty
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