Ethereum Stays Strong While Bitcoin Tests Resistance Near $68,000

Ethereum And Bitcoin Move To All-Time High Levels

Ethereum has recently made an attempt to settle above the $4,800 level while Bitcoin moved to new highs.

The world’s leading cryptocurrency managed to settle above the resistance at $67,000 and is currently trying to settle above $68,000. In case this attempt is successful, Bitcoin will head towards the psychologically important $70,000 level which will be bullish for the whole crypto market.

Other top cryptocurrencies show mixed dynamics today. Shiba Inu received support near $0.000055 and is trying to settle above $0.000057. Dogecoin lost momentum after an unsuccessful attempt to settle above $0.29 and is currently testing the $0.28 level. Solana settled below the $250 level while XRP has recently moved back below $1.25. Traders look focused on the main cryptocurrencies, Bitcoin and Ethereum, which is bullish for the leading coins.

Technical Analysis

Ethereum managed to get above the resistance level at $4,770 and made an attempt to settle above $4,800. However, Ethereum faced resistance near $4,840 and pulled back.

RSI remains close to the overbought territory, but there is plenty of room to gain additional upside momentum in case the right catalysts emerge. In case Ethereum manages to settle above the resistance at $4,840, it will head towards the $5,000 level. It should be noted that Ethereum’s recent upside move was moderate, which increases chances for a successful test of the $5,000 level as the coin did not become overbought.

On the support side, the previous resistance at $4,770 will likely serve as the first support level for Ethereum. In case Ethereum declines below the support at $4,770, it will head towards the next support level which is located at $4,650.

A move below the support at $4,650 will push Ethereum towards the next support at $4,535. If Ethereum manages to settle below the support at $4,535, it will gain additional downside momentum and move towards the next support level which is located at $4,380.

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