Bitcoin Surges Above $110K, Ethereum Approaches $3K, Solana Forms Golden Cross. We analyze the price movements of BTC, ETH, and SOL, supported by institutional inflows and technical indicators.
Gaining around $5,000 in a day and hitting a high of $110,500, Bitcoin (BTC) started the week with a 4% gain.
It recorded a slight correction of less than 1% on Tuesday, failing to stabilize above $110,000, but remains close to its all-time high of $112,000 on May 22.
Bitcoin Breaks Above $110,000 Resistance
Monday’s move represents the most significant daily gain since May 8. The recent surge is supported by strong fundamentals. Institutional inflows through Bitcoin ETFs reached $2.8 billion in May, bringing total ETF assets to over $122 billion.
This reflects unprecedented institutional adoption, with large investors continuing to buy on dips, a bullish signal that often heralds further gains.
From a technical point of view, the approach to all-time highs makes analysis more complex, as these levels can act as resistance. Any corrections could offer buying opportunities, especially near the 50-week moving average (around $102,000) or the psychological support of $100,000 .
Only a drop below $92,000 and the 200-day moving average would suggest a return to bearish sentiment.
Ethereum towards $3,000?
Ethereum (ETH) rallied 6.7% on Monday, testing June highs. The price has settled at the upper boundary of a consolidation range between $2,700 and $2,740 that has been forming for about a month. This represents the most significant daily gain in the past five weeks.
Technically, Ethereum has been trading in a range between $2,700 and $2,400 for about a month. A break above the upper limit could pave the way for further increases, with the psychological level of $3,000 set as a target. Conversely, a drop below the lower limit could reignite bearish momentum, with a possible return to February’s $2,200.
The price growth reflects rising institutional confidence and a fairly solid foundation. BlackRock ’s iShares Ethereum Trust has seen 23 consecutive days without outflows, highlighting continued demand from large investors. Additionally, the recent reorganization of the Ethereum Foundation’s R&D department has given new impetus to the ecosystem.
“Golden cross” in sight for Solana
Solana (SOL) is showing signs of a significant technical pattern given the imminent formation of a “golden cross” . The 50-day exponential moving average (EMA) is rapidly approaching the 200-day EMA, suggesting a possible bullish crossover. If confirmed, this pattern could indicate a trend reversal and open room for further upside.
Historically, golden crosses are considered reliable indicators of changes in market sentiment, especially when accompanied by rising trading volumes and positive momentum indicators, which Solana is currently showing. The price has recovered strongly from the $140 level and is now trading around $153, with the RSI moving away from the oversold zone, signaling upside potential.
The cryptocurrency market is currently showing a generally positive trend that could continue. Another project benefiting from this trend is Bitcoin Bull (BTCBULL) , which offers airdrops to holders if Bitcoin hits certain price milestones. Additionally, BTCBULL token holders can stake their tokens and earn a 58% APY.
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