The asset has successfully retraced its short-term moving average. This surge in activity suggests that both retail and institutional traders are intervening, likely hoping for a further push towards the resistance level between $118,000 and $120,000. Following this, Ethereum saw another significant increase, rising 4.5% to $4,168. The second-largest cryptocurrency’s recovery from the $3,900 support area and its subsequent break above the 200-day EMA signaled the end of a brief downtrend. The data shows that one of the busiest trading days in recent months was a +141% increase in 24-hour trading volume for BTC, a +107% increase in ETH, and a +97% increase in SOL. Currently trading near $115,400, up nearly 2% for the day, Bitcoin is leading the movement. The price is currently above the 50-day and 100-day EMAs, indicating that buyers are regaining control of the market.
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The asset has successfully retraced its short-term moving average. This surge in activity suggests that both retail and institutional traders are intervening, likely hoping for a further push towards the resistance level between $118,000 and $120,000. Following this, Ethereum saw another significant increase, rising 4.5% to $4,168. The second-largest cryptocurrency’s recovery from the $3,900 support area and its subsequent break above the 200-day EMA signaled the end of a brief downtrend. The data shows that one of the busiest trading days in recent months was a +141% increase in 24-hour trading volume for BTC, a +107% increase in ETH, and a +97% increase in SOL. Currently trading near $115,400, up nearly 2% for the day, Bitcoin is leading the movement. The price is currently above the 50-day and 100-day EMAs, indicating that buyers are regaining control of the market.