Crypto Market Analysis: Bitcoin Gaining Momentum, Ethereum & BinanceCoin Coiling Up

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The global market cap has risen to some extent as the bulls have been displaying strength after reaching the interim lows. Although the star crypto, Bitcoin, rebounded from the interim lows below $40,000, the token is lagging in strength to enter the pivotal resistance level above $44,000. With major bearish signals flashing since the early trading hours, the Bitcoin (BTC) price may face a fresh pullback, which may not be a good sign for the altcoins and the entire crypto space.

As mentioned in the previous composition, the BTC price was flashing both the possibility of a bullish continuation and a bearish rebound. Besides, the stochastic RSI, which is used to gauge the upcoming trend is flashing a sell signal. Additionally, the RSI, which is used to measure the magnitude of the recent price change has yet to reach the overbought levels, indicating a minor bullish push is still pending. With this, the possibility of achieving $44,000 may occur anytime from now but a healthy pullback may follow after facing rejection. 

Ethereum & BinanceCoin Prices Showing Strength

The recent price action has offered Ethereum a strong base to trigger a healthy rebound. Due to this, the price has been maintaining a healthy upswing. While bearish clouds are hovering over the BTC price, ETH bulls are expected to push the price towards the upper target at $2400 as the RSI and StochRSI are both bullish. 

As seen in the above chart, the ETH price is trading within an ascending triangle and aiming to reach the apex. With the technicals in favour of the bulls, the price is expected to maintain a healthy upswing. Therefore, a bullish breakout may appear after the price reaches the apex with the targets set above $2600. On the other hand, the BinanceCoin price also appears to be closely following the bulls as the trade set-up flashes extreme bullish signals.

The BNB price is trading within a decisive symmetrical triangle, with the price testing the upper resistance. Besides the MACD is flashing a buy signal, with the signal & MACD line closer to undergoing a bullish crossover. With this, a notable upswing beyond $340 could be possible, aiming for the upper target of $350 by the end of the first quarter of 2024. While the entire crypto market appears to be under bullish influence, the Bitcoin price is feared to undergo an interim pullback, which may delay the possibility of reaching $50,000.