Recent assessments from leading crypto market analysts indicate critical technical levels for both Bitcoin and Ethereum.
Yurien Timmer, the global macro director at Fidelity, noted that Bitcoin continued its bullish trend last week, forming a new recovery peak at $78,344. Timmer stated that the rise, which started from $60,033, can still technically be considered a 'bear flag' formation. However, according to the analyst, Bitcoin is continuing to build a strong base during this period, and this structure is setting the stage for the next major bullish wave.
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On the flip side, crypto analyst Ali Martinez claimed that Ethereum is testing a critical level that historically separates bearish markets from macroeconomic bullish periods. According to Martinez, Ethereum is currently trading around the 'realized price' of approximately $2340. This level represents the average cost for all investors on the blockchain.
Martinez pointed out that in previous cycles, this level created strong selling pressure during recovery phases, and investors typically preferred to exit their positions at breakeven. However, when this critical threshold turns into a support level, it’s observed that Ethereum enters strong and very reliable bullish trend phases.
*This is not investment advice.