Bitcoin Leads the Way? Market Awaits BTC Breakout as ETH and SUI Stabilize

News

  • Bitcoin BTC is testing the critical $115K level; a breakout could ignite broader market momentum, while a dip below $112K risks a deeper pullback.
  • ETH consolidates above $4K support, with reduced bullish momentum; the next decisive move will be shaped by BTC’s direction.
  • SUI faces resistance near $3.30 and shows sideways pressure, with traders watching for either a bullish breakout or minor correction.

Global cryptocurrency markets opened the week with mixed momentum as Bitcoin regained strength while Ethereum and SUI traded within tighter ranges. The three assets moved with distinct patterns, and traders monitored technical indicators that could guide the next significant shift. Price levels across Bitcoin, Ethereum, and SUI suggested possible consolidation before any decisive breakouts.

Bitcoin (BTC)

Bitcoin gained 1.74% on the day, closing at $114,072 after testing a low near $111,646. The price rebounded from its September pullback, maintaining position above the $112,000 support range. Market activity confirmed resilience, but momentum indicators pointed toward uncertainty over the direction of the next move.

                                         Source: Binance

The broader structure showed Bitcoin still recovering from its peak of $124,576 earlier this cycle. Analysts noted the importance of the $115,000 resistance barrier, which aligns with recent trading volume spikes. A sustained break above that level could trigger fresh buying pressure and extend gains toward the previous high.

The MACD remained in a negative setup, with histogram readings staying below zero. Despite the upward push, technical signals emphasized a neutral environment. However, a failure to defend the $112,000 zone might open the path to $104,000 support.

Ethereum (ETH)

Ethereum traded at $4,169, showing a modest daily increase of 0.65%. The price pulled back from resistance near $4,800 earlier in the month. Support levels around $4,000 held firm, with recent sessions highlighting consolidation in a narrower range.

                                    Source: Binance

The moving averages displayed signs of convergence, reflecting slowing momentum across the short and medium time frames. Ethereum has maintained a steady position above the $4,000 threshold, strengthening the perception of this level as crucial support. Technical structures suggested that any fresh rally would depend on Bitcoin’s trajectory.

The MACD readings stayed negative, underscoring continued pressure. If Ethereum sustains above $4,000, it may attempt a push toward $4,500. However, renewed weakness could pull the asset toward the 200-day moving average located near $3,600.

SUI (SUI)

SUI traded at $3.266 on the 15-minute chart, posting a minor decline of 0.04%. The asset pulled back after hitting a local high near $3.30. The price hovered near the seven-period moving average while volatility remained moderate.

                                             Source: Binance

Bollinger Bands positioned resistance near $3.311 and support at $3.248. This setup indicated possible range-bound behavior in the short term. Occasional volume spikes pointed toward speculative trades without confirming any sustained directional momentum.

SUI’s recent rejection at the upper band suggested limited strength to continue higher. The pattern highlighted a potential sideways path unless new demand emerged. Short-term traders remained focused on breakouts beyond the $3.30 mark for clearer signals.

Overall Market View

The digital asset market displayed diverging signals as Bitcoin held center stage. Ethereum stabilized within a key support range, and SUI moved narrowly. The next decisive move in Bitcoin may determine whether broader market sentiment turns more positive or extends current consolidation.

Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0

PRC Comment Policy

Your comments MUST BE constructive with vivid and clear suggestion relating to the post.

Your comments MUST NOT be less than 5 words.

Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.

Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.

Constructive REPLY to comments is allowed

Leave a Reply