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▲ Bitcoin (BTC), Ethereum (ETH)
Bitcoin (BTC) and Ethereum (ETH) are at a turning point for their short-term trends, facing pressure in different directions in front of key moving averages.
According to Cointelegraph on May 15 (local time), Bitcoin rebounded from the 20-day exponential moving average (EMA) at $79,251 on Thursday, but its upward momentum was limited as bearish forces began selling in the pullback rally zone. Subsequently, Bitcoin's price returned to the 20-day EMA, which was presented as a critical zone that buyers must defend to maintain dominance.
Cointelegraph analyzed that if Bitcoin strongly rebounds from the 20-day EMA, buyers could attempt to break above $84,000 again. It explained that if Bitcoin breaks above $84,000 and closes above that price, a path to $92,000 could open.
Conversely, if Bitcoin's price remains below the 20-day EMA, it could be interpreted as an attempt by bearish forces to regain control. In this scenario, Bitcoin could fall to the 50-day simple moving average (SMA) at $74,968, which is presented as a strong support level where buying interest is likely to re-enter.
Ethereum showed clearer bearish signals than Bitcoin. Ethereum turned downwards from the 20-day EMA at $2,297 and fell below the 50-day SMA at $2,250. Cointelegraph reported that this trend indicates seller dominance.
Ethereum could fall to the support line of its ascending channel pattern, which is presented as a critical price level that buyers must hold. If this support line is not defended, Ethereum's price could drop to $1,916.
However, if Ethereum rebounds from the ascending channel support and breaks above the 20-day EMA, it could be interpreted as a signal of bargain buying. In this case, Ethereum could rise to $2,465, which is likely to act as a strong resistance level. If buyers overcome this barrier, Ethereum could rise to the upper resistance line of the channel.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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