In recent developments, the cryptocurrency landscape is witnessing significant fluctuations, with Bitcoin teetering close to $97,000 amidst political indecision, while Ethereum’s patterns are being closely analyzed. President Trump, during a recent signing event, refrained from taking a definitive stance on the issue, leaving analysts and traders speculating. Concurrently, Minneapolis Federal Reserve President Neel Kashkari commented dismissively on cryptocurrencies, deeming them unimportant for individual investors.
How is Ethereum Positioned?
Currently, Ethereum is trading above $3,300. Market analyst Efloud is optimistic, seeing a promising support level in the green zone over the short term. This bullish outlook extends further, with a crucial blue zone support in the longer term. The analyst’s primary target is set at $3,500, a level where Efloud intends to close positions.
In a short-term perspective, Efloud suggests the $3,180 mark as potential support. Should there be a breach of this ‘red zone,’ Ethereum might see trials near $3,700. The analyst underscores that the retention of support levels is essential for bullish momentum to continue.
Is Bitcoin Navigating a Turning Point?
For a substantial period, the crypto markets have been in fluctuation, with the beginning of 2026 providing some stability seen as normalization. The current analysis from On-Chain Mind through Bitcoin’s monthly active supply reveals a potential reward phase, hinting at possible further upward movement in Bitcoin’s price.
“Bitcoin’s monthly Active Supply exceeding ~100,000 BTC aligns with major turning points. Sudden increases during rallies denote distribution, while surges during sales usually indicate ultimate capitulation and significant troughs. When activity collapses or turns negative, accumulation always profits. We are now in this final stage.”
Here are key insights based on recent activity:
- •Ethereum’s short-term support is pegged at $3,180 and long-term at the blue zone.
- •ETHBTC pair holds 0.0322 BTC as support; resistance at 0.0354 BTC remains challenging.
- •BTC maintaining above $96,000 is crucial as the possibility of $98,000 tests emerges.
- •A delay in the Supreme Court decision may favor Trump, with Bitcoin’s path closely linked.
As the Supreme Court’s verdict looms, further clarity on these financial markets is anticipated. The direction through which Bitcoin and Ethereum travel could chart the course for altcoin liquidity and broader market sentiment.