Ethereum

Summer

BlackRock

BARRON

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<p>The cryptocurrency market is showing signs of renewed momentum, with Bitcoin and Ethereum potentially gearing up for significant moves. According to trader Mariano from Trading Parrot, Bitcoin is forming a "megaphone pattern" that often precedes major breakouts. While some caution is warranted due to increased exchange deposits from large holders, the overall technical structure remains bullish as long as Bitcoin holds above $64,000.</p>
<p>Ethereum is looking particularly strong against Bitcoin, with Mariano noting bullish divergences on the weekly timeframe. This aligns with recent reports that BlackRock has seen higher inflows for ETH compared to BTC, suggesting growing institutional interest in Ethereum. The upcoming Ethereum futures ETF launch could provide additional tailwinds for the second-largest cryptocurrency.</p>
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<p>In altcoin news, XRP has seen explosive price action following positive developments in Ripple's ongoing legal battle with the SEC. However, Mariano warns that extremely high long positions could lead to a short-term pullback before the next leg up. Meanwhile, Avalanche (AVAX) received a boost from news that the California DMV will be leveraging its blockchain for vehicle titling, demonstrating real-world adoption of the technology.</p>
<p>Solana continues to show strength, maintaining its lower price range better than many competitors. However, traders appear cautious about pushing SOL to new highs until Bitcoin's direction becomes clearer. Polygon (MATIC) is also garnering attention, with its prediction market platform Polymarket surpassing $1 billion in trading volume. This, coupled with the upcoming MATIC token swap, has led to a bullish breakout on weekly charts.</p>
<p>As the crypto market enters a critical phase, investors should remain vigilant and manage risk appropriately. While several projects show promise, the overall direction may hinge on Bitcoin's ability to decisively break above recent highs and reignite bullish momentum across the entire sector.</p>
<p><strong>Guest:</strong> The Trading Parrot <br>Follow Trading Parrot on YouTube! ➜ <a href="https://bit.ly/TradingParrot">https://bit.ly/TradingParrot</a></p>
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Altcoin Technical Analysis🚀 with @TheTradingParrot

Paul Barron Network

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