Are you ready to dive into the latest news and trends in the stock market? Well, look no further than Extreme Investor Network. Today, we’re breaking down the latest movements in the market, starting with ethereum (ETH) which bucked the broader trend and gained 0.11% to reach $3,682. The lingering hope among investors for the SEC to approve S-1 forms for ETH-spot ETFs has supported buyer appetite for ETH.
But that’s not all – let’s take a deep dive into some technical analysis, starting with Bitcoin. BTC has been hovering above the 50-day and 200-day EMAs, signaling bullish price movements. A potential break above $70,000 could set the stage for a run at the Friday high of $71,992, and even open the door to challenging the all-time high of $73,808.
Investors should keep an eye on US BTC-spot ETF market chatter, SEC activity, and bets on a potential Fed rate cut in September as these factors could impact BTC’s price movements. On the flip side, a drop below the $69,000 support level could signal a downward trend towards the 50-day EMA.
With a 55.61 14-Daily RSI reading, BTC may have room to climb towards the all-time high before entering overbought territory. Stay tuned to Extreme Investor Network for more updates and expert analysis on all things stock market, trading, and Wall Street.