Ethereum (ETH) continues to demonstrate incredible technical strength on a bullish breakout. Currently, it’s testing an important resistance ceiling, looking for a breakthrough breakout. The cryptocurrency faces a significant test in overcoming psychological resistance around Rp1.65 billion (US$100,000), a level that could dictate its short-term trajectory. Despite recent bullish activity, maintaining a position above this barrier has proven difficult, making a definitive breakthrough crucial for sustained upward movement.

Technical Analysis Points to Key Levels

The obvious answer is Bitcoin (BTC) which is proving to be incredibly strong at the moment. Analysts are giddy as it nears the top of its defined trading range. The price here is trying to break over the Rp1.61 billion (US$98,000) area, a point that has proven a major resistance in the past.

Bitcoin (BTC) has enjoyed impressive price action the last couple of weeks. It has a hard time remaining above this major cut line. If Bitcoin fails to build up the upward momentum, it could fall below the Rp1.48 billion to Rp1.49 billion support level. This decrease, worth roughly US$90,000 to US$92,000, may endanger its existing market cap structure and forecast a broader move toward bearish sentiment.

The area between Rp1.61 billion and Rp1.65 billion (US$98,000 - US$100,000) has historically triggered selling activity, underscoring the importance of a confirmed breakout. In order to confirm a valid breakout, a daily close above Rp1.65 billion will be essential for Bitcoin (BTC). This proposed action would set the stage for making far larger benefits achievable.

Moving Averages Offer Support

As of the time of writing, Bitcoin (BTC) trades above its 200-period simple moving average (SMA), located at Rp1.45 billion (US$88,387). This placement above the LT long term moving average indicates that there’s some bullish momentum underlying RSH’s trend.

This triggered a significant positive divergence, with the price crossing upward through its 200-period exponential moving average (EMA). It is strong at Rp1.49 billion (US$90,723) underscoring the positive outlook. This bullish structure that’s been forming since the middle of April shows a lot of persistent upward pressure.

These technical indicators are pointing to a potential breakout targeting Rp1.64 billion (US$100,000) assuming Bitcoin breaks above resistance.

Trading Opportunities and Expert Insights

Platforms like Pintu Pro Futures offer users the opportunity to capitalize on Bitcoin's price movements through leverage and futures trading. Traders will be able to buy leveraged Bitcoin (BTC) and long/short Bitcoin (BTC) futures contracts. They can engage in Ethereum (ETH) and Solana (SOL) futures as well, making their options wider upon the ever-evolving cryptocurrency market.

Robert Kiyosaki has been one of the most visible proponents of Bitcoin. He advocates passionately for its advantages over hard assets such as gold. Each of these endorsements ignites a new wave of interest in Bitcoin. They further increase its uptake among the masses as a safe-haven asset and investment destination.