Why Isn't Ethereum Going to $5,000? Bitcoin's (BTC) $80,000 Attempt, Binance Coin's (BNB) Silent 40% Pump

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Market faces period of consolidation, but bullish targets are still intact

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Bitcoin's recent trajectory shows a climb toward this unprecedented level, with the asset exhibiting strong support near the $62,000 range. This support level is bolstered by the 50-day moving average, which historically acts as a dynamic foundation during bullish trends. The ascent has been accompanied by increasing trading volume, suggesting that the rally has substantial market participation and is not solely driven by speculative action.

 

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