The crypto market is buzzing, and two giants are stealing the spotlight: Bitcoin (BTC) and Ethereum (ETH). Both have shown impressive moves recently, but the charts and trading volume tell a compelling story about which one might take the lead this week. Let’s break it down.
Surging Volume Signals Strength
Trading volume often reveals where the momentum lies. In the past 24 hours, Bitcoin moved $67.97 billion, up 34.79%, showing strong activity. Ethereum, however, outpaced it with $46.44 billion and a 36.4% volume spike.
High volume during price surges suggests buyers are committed, reducing the risk of a false breakout. For Ethereum, its push past $3,800 came with a volume explosion—a textbook sign of robust buying pressure. Bitcoin, while also seeing increased volume, appears to be stalling at a key resistance level, hinting at profit-taking or market hesitation.
Bitcoin’s Battle with Resistance
On the daily chart, Bitcoin hit $119,000 but struggles to break through. The weekly candle shows rejection after touching $123,000, with a long upper wick signaling selling pressure. The $120,000–$123,000 zone is proving to be a tough barrier.
The Relative Strength Index (RSI) on the weekly chart is nearing 70, flirting with overbought territory, which could mean the rally is losing steam. The Moving Average Convergence Divergence (MACD) remains bullish but shows a slight slowdown in its histogram, suggesting weakening momentum. Bitcoin’s market dominance also slipped to 59.6%, down 4.8% from last week, as Ethereum and altcoins gain ground.
Ethereum’s Breakout Momentum
Ethereum, on the other hand, is charging forward. Its daily chart shows a clean break above $3,800, with a strong candle closing near its high and no significant wicks—a pattern that screams continuation. The weekly chart boasts a 26.44% gain, peaking at $3,819 and closing strong.
Ethereum’s RSI is at 70.53, technically overbought but showing no clear reversal signals yet. The MACD confirms the bullish trend with a fresh crossover and a rising histogram, pointing to sustained buying interest. Ethereum’s dominance climbed 2.54%, reflecting growing attention from both retail and institutional players.
Who Takes the Crown This Week?
Based on technicals and volume trends, Ethereum has the edge. Bitcoin’s struggle with resistance suggests it may consolidate or pull back slightly before pushing higher. Ethereum, however, is riding a wave of momentum, with room to test $4,000 in the coming days.
For Ethereum to keep climbing, it must decisively clear the $3,950–$4,050 zone, a historical high from past cycles. A weekly close above this level could pave the way for a run to $4,400, the next major resistance.
Key Levels to Watch for Ethereum
If Ethereum’s rally falters, here are the support levels to monitor:
- $3,600: A recent consolidation zone and the first line of defense. A drop below could trigger a short-term correction.
- $3,300: A stronger support, aligning with prior accumulation and Fibonacci retracement levels.
- $3,000: A psychological and technical floor that anchored the last leg of the rally.
The Verdict
Ethereum’s breakout strength, rising dominance, and robust volume make it the likely frontrunner this week. A clean break above $4,000 with sustained volume would solidify its bullish case, potentially driving it toward $4,400. Bitcoin, while still strong, may need more time to overcome its current resistance. Keep an eye on Ethereum—it’s poised to steal the show.
