Stocks Surge as Bitcoin and Crypto Consolidate - S&P 500 Breaks Downtrend While Bitcoin Trades Sideways Under Resistance
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The S&P 500 Index surged above a downtrend line, signaling the end of a corrective phase. The index may rally towards 4,650 if it rebounds from the 20-day EMA support.
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Bitcoin is stuck below $38,000 resistance. A break above could start the next leg of an uptrend toward $40,000. A drop below the 20-day EMA may trigger a deeper correction.
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Ether is forming a bullish ascending triangle pattern that could lead to a rally towards $3,400 if it breaks above $2,200.
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BNB is holding above the 20-day EMA support, indicating a positive sentiment. A break above $265 resistance could lead to $305.
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XRP is stuck between $0.74 and $0.56. A breakout or breakdown from this range could start a trending move.