Bitcoin price outlook: recovery hinges on 50-day EMA
Bitcoin (BTC) fell 6% last week after failing to hold support at $116,000 on September 19, dropping to a low of $108,631 by Thursday. The benchmark cryptocurrency has since staged a mild rebound, trading near $111,700 during Monday’s Asian session.
A sustained daily close above the 50-day Exponential Moving Average (EMA) at $113,232 would strengthen recovery prospects, potentially opening the door for a retest of the $116,000 resistance level.
Top crypto gainers: zcash leads with fresh yearly highs
Zcash (ZEC) extended its rally with an 8% gain on Monday, building on nearly 10% gains from the previous session. The privacy-focused token has now reached an annual high, breaking above the 78.6% Fibonacci retracement level at $61.01, measured from the $74.59 December 2 close to the $29.17 March 10 low.
A decisive daily close above $61.01 could pave the way for further upside toward the $74.59 peak. Alongside ZEC, tokens PUMP and ATH also posted double-digit gains to start the week.
Ethereum price forecast: profit-taking intensifies as open interest declines
Ethereum (ETH) faced heavy selling pressure last week, with investors realizing more than $800 million in profits on Friday, according to Santiment data. The profit-taking followed ETH’s drop to $3,800 on Thursday, marking its first dip below $4,000 in over a month.
The bearish move triggered two significant long liquidation events, totaling $401.8 million on Thursday and $490 million on Tuesday, underscoring rising market volatility. ETH now faces the challenge of regaining momentum while open interest trends lower.
