BTC Holds Above $124,000 as Technical Indicators Signal Continued Strength
BTC (BTC) is trading around $124,600, posting a modest 1.1% gain in the latest session later than reaching an intraday high of $124,606. The leading cryptocurrency has maintained its position above several critical moving averages, reinforcing bullish sentiment across most technical indicators. Analysts note that BTC’s breakout from prior consolidation zones is holding, but the market could face short-term pullbacks as momentum cools.
Strong support has been identified between $110,500 and $112,000, with resistance forming near the $123,000 to $125,000 range. A sustained move above these resistance levels could open the path toward new highs, while a break below support could test lower zones near the mid-$100,000s.
Technical dashboards show the 50-day, 100-day, and 200-day moving averages trending below current price levels—an alignment that traditionally signals bullish continuation. However, momentum oscillators such as the Relative Strength Index (RSI) and stochastic indicators suggest BTC is approaching overbought territory on shorter timeframes, indicating the potential for sideways consolidation.
Recent analyses from Investing.com and Barchart.com highlight that the Average Directional Index (ADX) remains moderate, suggesting that while the trend is positive, it has not yet reached extreme strength levels. Volume data will be key in confirming whether the breakout above $120,000 can sustain or if a retracement toward lower support levels is likely.
Traders are closely watching for how BTC reacts near its all-time high region, as confirmation of support above $112,000 could reinforce the broader bullish structure. Conversely, a failure to maintain that level might indicate a short-term correction. For now, BTC remains technically strong, with market sentiment leaning toward continued upside momentum as long as support levels hold.
ETH (ETH) is trading near $4,592 later than gaining roughly 0.9% in the latest session, extending its recent uptrend alongside broader strength in digital assets. The second-largest cryptocurrency by market capitalization continues to maintain its bullish structure, with prices comfortably above major moving averages and consistent inflows from institutional investors supporting sentiment.
Analysts note that ETH’s price is trading above its 5-, 20-, and 50-day moving averages, indicating firm underlying momentum. The 50-day and 100-day averages now act as key dynamic support zones, assisting to sustain the bullish bias. Most aggregated technical dashboards, including Investing.com and Barchart.com, currently signal a “Strong purchase,” supported by both moving average alignment and momentum indicators.
Support for ETH lies around the $4,200 to $4,300 region, which has repeatedly held during minor retracements. Maintaining this zone could provide the base for a move toward the next resistance level near $5,000—a psychologically significant threshold for traders. Some technical analysts have identified a broad “megaphone” pattern forming on the weekly chart, which could extend ETH’s long-term target toward $10,000 if bullish momentum persists.
Despite the strength, short-term oscillators such as the Relative Strength Index (RSI) suggest mild overbought conditions, hinting at potential sideways movement or consolidation before another breakout. A drop below $4,200 would fragileen the bullish outlook and potentially lead to a deeper correction toward lower support zones.
For now, ETH remains in a favorable technical position. As long as it holds above $4,200, the prevailing market structure supports further upside toward $5,000 and beyond. Traders are advised to monitor volume trends and momentum divergences closely as indicators of the next directional move.
