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Bitcoin Steadies Above $100K as Ethereum Eyes Tactical Pullback

Veronicah Peninah by Veronicah Peninah
May 16, 2025
in Market, News
Reading Time: 3 mins read
Bitcoin Steadies Above $100K as Ethereum Eyes Tactical Pullback
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  • BTC holds firm above $100K with $98K acting as a critical support, indicating possible upside momentum.
  • ETH rises 2.8% but increased volatility hints at short-term consolidation or a tactical buy opportunity below $2,400.
  • Both Bitcoin and Ethereum are trading within tight ranges, suggesting growing pressure for a breakout.

The narrow range in trading for both Bitcoin and Ethereum is indicating that a breakout could happen soon.  Currently, Bitcoin is doing well and has not dropped below six figures, trading at $103,617 which is a 1.9% increase in the last 24 hours while the $98,000 level continues to act as a strong foundation for any further increases in the market.

The view remains unchanged on #Bitcoin.

As long as it stays above $98K, we'll be fine for further continuation upwards.

Last consolidation before we'll break ATHs and start having fun. pic.twitter.com/l9mQSvPrcq

— Michaël van de Poppe (@CryptoMichNL) May 16, 2025

Current price action reflects a phase of consolidation, suggesting that the asset is preparing for a potential breakout after holding this support. According to CryptoMichNL analysis, this range may represent the final pause before a move toward fresh all-time highs.

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Bitcoin Holds in Tight Range Amid Volatility

Bitcoin’s current support rests at $103,617, which remains intact despite increased volatility over the past 24 hours. The resistance level sits slightly higher at $104,291, placing Bitcoin within a relatively tight price channel. These technical levels form a crucial part of short-term trading strategies. 

The 24-hour range also reflects this consolidation, supporting the analyst’s assertion of a final base before further upside. With price movement remaining within this zone, traders continue to monitor whether Bitcoin can decisively breach  $104,291  resistance and initiate the next upward move.

Ethereum Gains Amid Volatility, Eyes Short-Term Pullback

Ethereum has also advanced, recording a 2.8% increase to trade at $2,610.25. It now stands 1.0% higher against BTC, at 0.02516 BTC per ETH. Despite the upward push, the move has been accompanied by a sharp rise in volatility, which may indicate an incoming consolidation period before any continuation higher.

What to expect from $ETH?

Right now, we've seen the first big upwards move.

Volatility up has been going through the roof, so that should assume that we'll have some consolidation before continuation.

Sub $2,400 is a buy opportunity before the next breakout. pic.twitter.com/qpPQW9k2cO

— Michaël van de Poppe (@CryptoMichNL) May 16, 2025

ETH’s immediate support level stands at $2,498.01, while resistance lies close at $2,608.41, putting it slightly below its current price. This narrow margin suggests a potential pullback zone with the analyst identifying sub-$2,400 levels as favorable buy zones, indicating a tactical opportunity during any brief dips.

Crypto Markets Steady as Momentum Builds

Across both assets, the pattern remains consistent—price consolidating within key levels while broader momentum builds. For Bitcoin, the main aim is to keep its price above $98,000 while   Ethereum is experiencing temporary price swings but staying above its support level.

The current market structure presents defined boundaries and measured movement, signaling a period of calm. These developments point to an active, yet restrained, environment as traders monitor for clearer breakout signals.

Tags: Bitcoin (BTC) NewsEthereum (ETH) News

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