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BTC and ETH Continue to Show Strength

Written By: ChartChamp

May 17, 2024

Yesterday BTC faced some resistance at the upper end of the bullish pennant around $66.7k. Today BTC is continuing to show bullish strength into this bull pennant. I would monitor the price action for a potential bullish breakout or rejection at $66.4k. The trendline is sloped downward so the price target will decrease over time.

ETH’s Bullishness Into the Green Zone

ETH is also showing some bullish strength into the green zone. There is resistance between $3,050 and $3,150. The orange trendline has been my key price target, and this orange trendline gives a price target around $3,150. I would monitor for a bullish breakout above this $3,150 price target during this upswing.

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