Following the reaction from that level, price climbed up to the 2,697 – 2,633 USD resistance zone, reaching the short-term target outlined in our previous outlook. From a technical standpoint, that initial move has now played out successfully.

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A Breakout Could Signal the Next Move

Attention now shifts to whether this resistance zone can be broken with a confirmed close on the 4-hour chart. If such a breakout occurs, the next upside target for Ethereum could be around 2,880 USD.

For the moment, the market appears to be pausing, with traders watching closely. To validate further upside, price must break through this area decisively and with strong volume. Otherwise, we may see minor pullbacks before any continuation.

We remain on watch for now, as the technical setup continues to develop.

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The post Ethereum Bounces From Support: Is $2,880 the Next Target? appeared first on Coin Engineer.

New Breakouts Signal Potential Upside

BTC has broken through the previously mentioned resistance zone of $106,622 – $105,725, continuing its upward move. This breakout reflects strong buying momentum and could lead to further gains.

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The next resistance lies at $108,791. A strong, high-volume breakout above this level could push Bitcoin into a new leg of bullish movement, possibly testing new local highs.

Rejection Risk Still Exists

However, a rejection from this zone may indicate a temporary pause or retracement. Since $108,791 is a technically strong resistance, cautious risk management is advised for traders at these levels.

In terms of support, the previously broken resistance now becomes the new watch zone: the $106,622 – $105,725 area will likely act as support in the event of a pullback.

Close Monitoring Is Key

Tracking these levels closely is crucial for both short-term trading setups and longer-term positioning. With volatility increasing, a disciplined strategy remains the best defense.

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The post Bitcoin Rally Continues After Breaking Resistance appeared first on Coin Engineer.

Trade Talks and Futures Fuel the Rally 

The rally was supported by positive sentiment surrounding ongoing trade talks between the U.S. and China in London. Expectations of reduced tariffs hold the potential to ease global trade tensions. Such developments boost capital flows into riskier assets, positively impacting assets like Bitcoin. A 90-day temporary trade agreement between the U.S. and China in May similarly drove BTC prices upward. 

On the other hand, markets are not anticipating a rate cut at the FOMC meeting on June 18. According to the FedWatch tool, the probability of interest rates remaining unchanged is 99.9%. Therefore, the likelihood of a rate cut is largely dismissed. Positive trade outcomes could offset inflation pressures from upcoming CPI data, potentially reducing concerns about tighter Fed policies impacting crypto markets. 

Futures Market Sees Strong Interest: Open Interest Hits Record High 

Bitcoin’s climb past $110,000 was driven by growing investor interest in the futures market. According to CoinGlass data, total open interest (OI) reached $77 billion on June 10, marking the highest level in the past two weeks. This increase highlights strong demand for long BTC positions. 

Over the past 24 hours, BTC open interest surged by 8%, signaling a shift toward leveraged trading. On the same day, the CME Bitcoin futures market hit a record with 151,915 BTC in open interest, valued at $16.6 billion. Derivatives trading volume also saw significant growth, rising 112% to $114.3 billion in the last 24 hours. This indicates strong market-wide support for the upward momentum. 

Liquidations of short BTC positions further reinforced the price increase. As of June 10, $195 million in short positions were liquidated, while long position liquidations amounted to only $9.3 million. These figures underscore the strong bullish momentum in the market. 

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The post Bitcoin Price Surpasses $110,000 What’s Behind the Rise? appeared first on Coin Engineer.

The current developments near critical thresholds may be decisive not only for direction but also for market sentiment.

Strong Bounce from a Key Support

Recently, Bitcoin pulled back to the 106,506$ level, where it found robust support. This level acted as a springboard, fueling a swift upward movement that brought the price back into technically significant territory.

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One area drawing particular attention is the bullish FVG zone (108,725$ – 107,972$) formed during this upward move. As long as the price remains above this zone, the potential for further gains remains solid.

What If the Zone Breaks Down?

However, caution is warranted. Should Bitcoin fall below the FVG zone, a retest of the 106,506$ support level becomes increasingly likely. Such a move could significantly impact short-term sentiment and decision-making among market participants.

Keeping a close eye on these levels and preparing for potential volatility is essential for traders.

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The post Bitcoin Tests Key Threshold: Is a New Rally on the Horizon? appeared first on Coin Engineer.

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Currently, the downside Fair Value Gap (FVG) zone stands as a critical resistance point. If FET can close above this level, the next downside FVG area may be targeted, potentially fueling further bullish momentum. However, if buyers remain weak and selling pressure increases, a retracement towards the key support zones is possible.

Losing the $0.42 support could intensify the selling pressure, potentially driving the price down to $0.38. If no strong buying interest emerges at this level, further declines may be on the horizon.

The upcoming price action in the FET/USDT pair largely depends on its reaction to the FVG zone. Traders should closely monitor these critical levels for potential opportunities.

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The post FET Rebounds From Support Zone! What Are the Targets? appeared first on Coin Engineer.