Analyze the ups and downs of Bitcoin (BTC) and Ethereum (ETH) in the next 24 hours
Bitcoin (BTC)
Currently, Bitcoin is fluctuating between about $73,000 and $93,000, affected by strong support and resistance levels. According to technical analysis, BTC's 20-day, 50-day, and 100-day moving averages show short-term support, while its upper Bollinger Band is about $73,683 and the lower Bollinger Band is at $62,006. The current BTC price is running above the moving average, and if it breaks through the $93,000 resistance level in the short term, it may trigger further gains. However, if BTC falls below the $73,000 support, the price may retreat to the next support level  .
In addition, the interest of institutional investors will also have an impact on BTC prices. For example, VanEck's CEO recently said that BTC's long-term value may reach about half of the total value of the gold market, which provides confidence support for its potential price upside .
Ethereum (ETH)
Ethereum’s technical profile shows that its current price is around $3,000 and has risen by more than 6% in the past 24 hours. ETH’s on-chain transaction volume and network usage have steadily increased, especially after the gradual application of sharding technology, which promotes network scalability. Technical indicators show that Ethereum has an upward trend, and the burning mechanism will also have a deflationary effect on ETH when market demand is strong, making the price more elastic  .
Due to the current global demand for stablecoins, as a platform that supports DeFi and smart contract applications, Ethereum has the potential to benefit from this market trend. Therefore, in the next 24 hours, ETH prices may fluctuate between $3,100 and $3,200, and have the opportunity to challenge higher resistance levels.
Forecast for the next 24 hours
On the whole, Bitcoin may fluctuate between the current support and resistance levels. If there is any sudden news or market volatility, it may break through to the upside or experience a short-term retracement. Ethereum is expected to continue to rise slightly, especially with the support of increased demand. However, due to the large market volatility, there is still uncertainty about price fluctuations in the short term, and investors should operate with caution.
