[ad_1]
The Relative Strength Index (RSI) is moving toward a support level around 45, suggesting more room for consolidation or decline for Bitcoin in the coming days.
Overall, Bitcoin remains at a pivotal juncture. If the 1.618 Fib resistance breaks, BTC could enter a parabolic phase, with potential upside targets beyond $110,000. However, failure to reclaim this level may lead to extended consolidation or a deeper correction toward key moving averages and Fibonacci support zones.
Ethereum Weekly On-Chain Analysis
Ethereum’s latest on-chain metrics reveal a concerning trend of increasing selling pressure, coupled with a decline in institutional demand. While derivatives data hints at a potential trend reversal, retail-driven buying, particularly in Korea, suggests speculative behavior that could lead to short-term volatility.
Exchange Data: Higher Selling Pressure
- Exchange Netflow ↓ (Bullish): Fewer ETH inflows than the 7-day average, reducing immediate sell-side pressure.
- Exchange Reserve ↑ (Bearish): Rising ETH reserves indicate higher potential selling pressure, as more coins are moved to exchanges.
Sentiment: Institutional Weakness, Retail Speculation
- Coinbase Premium ↓ (Bearish): Low U.S. investor demand, signaling weak institutional interest.
- Fund Premium ↓ (Bearish): Lower ETF inflows, reflecting reduced confidence from large investors.
- Korea Premium ↑ (Bearish): High Korean retail buying pressure, often linked to speculative price action rather than long-term accumulation.
Derivatives Market: Possible Trend Shift
- Open Interest ↓ (Neutral/Bearish): A decrease in open interest suggests some traders are exiting positions, which could signal a trend reversal.
- Funding Rate ↑ (Bullish): Dominant long sentiment indicates that traders remain optimistic about ETH’s price movement despite weakening fundamentals.
Ethereum Weekly Technical Analysis
Ethereum is currently testing a critical neckline support of its head-and-shoulders (H&S) pattern, hovering around $2,295–$2,300. A decisive breakdown below this level could confirm a bearish continuation, with a measured move targeting $1,371—a key historical support zone.
[ad_2]
