BTC holds steady near $114,000 as traders weigh breakout potential
BTC (BTC) is trading around $114,568 later than a week of sideways movement, consolidating below its recent high near $120,000. The world’s largest cryptocurrency continues to show strength on the longer-term charts but faces mixed short-term technical signals as traders assess the next major move.
Technical indicators present a divided picture. The 200-day simple moving average (SMA) remains well below current levels, signaling that the long-term trend remains bullish. However, short-term moving averages, including the 20- and 50-day exponential moving averages (EMAs), have begun to flatten, suggesting that upward momentum is losing steam.
Momentum oscillators such as the Relative Strength Index (RSI) sit in neutral territory, indicating neither overbought nor oversold conditions. The Moving Average Convergence Divergence (MACD) remains slightly positive, showing mild bullish bias, but with declining histogram strength that hints at sluggishing momentum.
Support and resistance levels are clahead defined. Analysts identify the $120,000 to $124,000 zone as a significant resistance area that BTC must decisively break to confirm a new bullish leg higher. On the downside, the $101,000 to $106,000 range represents a critical support region. A breakdown below that could invite further tradeing pressure and potentially open the path toward $90,000.
For derivatives traders, these levels mark key zones for risk management. A confirmed breakout above $120,000, accompanied by strong trading volume, could trigger a fresh wave of long positions. Conversely, a loss of support near $106,000 would likely lead to heightened volatility and potential liquidations.
Overall, BTC’s structure remains intact with a neutral-to-bullish bias, but traders are urged to stay cautious. The next decisive move will likely emerge once the $120,000 ceiling or $106,000 floor gives way.
ETH (ETH) continues to trade in a narrow range around $4,000 as traders assess whether the market’s second-largest cryptocurrency can build enough momentum to retest the $4,300 resistance zone. Despite cooling momentum in the short term, ETH’s long-term structure remains firmly bullish, supported by strong on-chain fundamentals and favorable technical setups.
The 200-day simple moving average (SMA) sits near $3,214, well below current levels, underscoring the strength of ETH’s broader uptrend. The recent “golden cross,” where the 50-day moving average rose above the 200-day, further reinforces this bullish backdrop. However, shorter-term signals remain mixed, with daily oscillators and moving averages suggesting a period of consolidation rather than a decisive move higher.
Momentum indicators paint a picture of indecision. The Relative Strength Index (RSI) hovers between 40 and 60, indicating neutral conditions, while the Average Directional Index (ADX) suggests a trend that is present but not dominant. This combination implies that while ETH’s underlying bias leans positive, traders may need to view a stronger impulse to confirm continuation toward higher levels.
Immediate resistance lies between $4,250 and $4,300, a zone that has capped recent rallies. A clean breakout above that threshold, particularly if accompanied by strong trading volume, could open the path toward $4,500 and beyond. Conversely, the $3,750 to $3,800 region serves as critical support. A break below this level could signal fragileening sentiment and invite deeper corrections toward the mid-$3,000s.
For derivatives and futures traders, these zones represent key inflection points. A breakout above resistance may trigger renewed long interest, while failure to hold support could amplify downside volatility. Until either boundary is decisively breached, ETH’s outlook remains neutral to mildly bullish within its current trading band.
