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Bitcoin (BTC), Ethereum (ETH) in Red as Momentum Stalls

Mon, 06/26/2023 - 09:17
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Alex Dovbnya
Bears struggling to pull off another major push, with major coins stuck in limbo
Bitcoin (BTC), Ethereum (ETH) in Red as Momentum Stalls
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The world's top cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), have hit a lull this week, according to data from CoinGecko, with Bitcoin currently sitting at $30,399 and Ethereum remaining stable at $1,891.

This stalled momentum in the top two digital currencies comes despite recent waves of optimism around the approval of cryptocurrency exchange-traded funds (ETFs).

Among the altcoins, Binance Coin (BNB), the native coin of the Binance exchange, slipped by 0.1% to $237.65. Ripple-affiliated XRP, which was dealing with a lawsuit with the SEC, followed suit, showing a decrease of 0.2%, pushing the price to $0.484470.

Other significant players like Cardano (ADA) and Dogecoin (DOGE) have also seen minimal decreases, with ADA falling by 0.3% and DOGE remaining steady.

26 Trillion SHIB Are 'Securing' This Price Level
As reported by U.Today, recently elevated Bitcoin prices were driven by investor enthusiasm around a series of ETF filings by such big names as BlackRock and Invesco.

Seasoned market analyst Aksel Kibar has predicted a potential surge in Bitcoin's (BTC) value, as it holds steady at around $30,640. Kibar suggests that the leading cryptocurrency might target a price point of $34,000, following a strong channel breakout.

However, Bitcoin first needs to overcome a short-term resistance at $31,000. The forecast is supported by a head and shoulders (H&S) pattern on the market, which signals bullish sentiment.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at