The Bull Market’s Second Wave – Can Bitcoin (BTC) And Ethereum (ETH) Hit New ATHs In Q2?

With the cryptocurrency market showing signs of recovery, focus is turning to Bitcoin and Ethereum. After a recent drop, Ethereum is now expected to recover, and Bitcoin is just beginning its rebound. Analysts remain optimistic about the upcoming weeks, and this article explores the trends and factors that could contribute to a potential rally, highlighting digital assets that may experience notable growth in the near future.

Bitcoin Market: Recent Pullbacks Coupled with Strong Six-Month Gains

Bitcoin experienced a one-month decline near 10% while recording a six-month gain of approximately 35%. A seven-day boost of about 5 percent added a short-term lift to the mixed performance. Price action over these periods reflected volatility and shifting investor sentiment, highlighting contrasts between short-term corrections and longer-term recovery.

Current trading is set between roughly $74,000 and $99,000. Immediate support comes in near $63,700 with resistance at around $113,200, while extended boundaries reach from about $39,000 to nearly $138,000. The neutral RSI at 51 suggests neither bulls or bears hold a clear advantage, prompting traders to watch for breakouts above resistance or tests of support to confirm the next move.

Ethereum: Key Levels and Mixed Past Performance Indicate Trading Opportunities

The past month saw a 22.45% drop in price, while the half-year decline was around 22.23%. Recently, a 9.42% weekly gain suggests a small recovery amidst mixed price movements. Long-term trends have shown consistent pressure, though short-term actions reflect a glimmer of optimism. Traders should consider these changes for possible reversals and adjustments as they plan their strategies.

Currently, the price fluctuates between $1,766 and $3,021, with support around $1,294 and resistance at $3,804. Bears maintain a strong presence, despite the recent uptick from bulls. Trading strategies should focus on movements within these key levels, looking for signs of a decisive trend or reversal that could present new opportunities.

Conclusion

Bitcoin (BTC) and Ethereum (ETH) have shown strong potential for growth in the coming months. Market conditions and investor interest suggest a positive outlook. Both coins have demonstrated resilience and significant upward movement. If current trends continue, new all-time highs (ATHs) for BTC and ETH could be achieved in Q2. The market will be closely watching key indicators and broader economic factors.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.