Will Bitcoin Hold $70,000 the Third Time? Hyperliquid's (HYPE) Second Bullish Elliot Wave, Crucial Ethereum (ETH) Resistance Battle: Crypto Market Review

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Bitcoin escapes Next price targets Hyperliquid's upcoming expansion Wave theory Will Ethereum find the fuel? Ethereum's trade-offs Advertisement The $70,000 mark is being tested by Bitcoin once more , and this time it matters more than the last two. For the third time, Bitcoin has been able to reenter this crucial psychological and technical zone following weeks of declining pressure and lower highs. Now, the only question is whether it can hold it. Bitcoin escapes Bitcoin broke out of a short-term declining channel in recent price action, indicating a slight recovery from the mid-$60,000 range. Although that is a positive signal, it is insufficient by itself. With the price below significant moving averages that are still sloping downward, the overall trend is still under pressure. Put differently, unless proven otherwise, this is still a counter-trend move. BTC/USDT Chart by TradingView The $70,000 threshold has structural significance in addition to psychological significance. It served as both support and resistance in the past, and its status as a key decision-making area has been strengthened by repeated rejections. HOT Stories Will Bitcoin Hold $70,000 the Third Time? Hyperliquid's (HYPE) Second Bullish Elliot Wave, Crucial Ethereum (ETH) Resistance Battle: Crypto Market Review Winklevoss: $22.7 Trillion Fiat Expansion Is Massive Bitcoin Ad The likelihood of a breakout is increased, but the stakes are also raised by the fact that Bitcoin is testing it for the third time. Resistance is weakened by repeated tests, but at this point, unsuccessful breakouts can result in abrupt reversals. Advertisement The important thing to keep an eye on is volume. The breakout is fragile because there isn’t a lot of participation supporting the current push toward $70,000. Bitcoin needs consistent buying pressure , not just a quick spike, to gain acceptance above this threshold. In the absence of that, this action runs the risk of becoming just another deviation above resistance that is then rejected. Next price targets Additionally, investors should think about the larger picture. Liquidity is not actively shifting into riskier assets, and market sentiment is still cautious. This leads to a situation where a lack of follow-through can cause even technically advantageous setups to fail. Advertisement You Might Also Like Mon, 04/06/2026 - 12:40 Shiba Inu Double Death Cross Completed Amid 5% Jump: Could This Be Bear Trap? By Tomiwabold Olajide The next targets open up toward the $75,000-$78,000 range, where stronger resistance clusters exist, if Bitcoin is able to hold above $70,000 and turn it into support. But if it fails once more, a return to $65,000 or less seems likely. Hyperliquid's upcoming expansion After emerging from its protracted decline, Hyperliquid is beginning to exhibit early indications of a second expansion phase . The price has recovered significantly from the $25-$28 range and is currently trading at about $37, creating a series of higher lows and higher highs. This represents a distinct change in structure from the previous bearish phase. The fact that HYPE has recovered important moving averages is the most significant change. The price is currently consolidating above the short-term (26 EMA) and mid-term (50 EMA), which have both switched from resistance to support. The fact that even the longer-term trend indicator is flattening indicates that the downward momentum has been neutralized. Wave theory A new growth phase usually starts with stabilization above critical levels rather than a straight breakout. This appears to be a classic pause following an impetuous action. HYPE was pushed aggressively higher by the initial rally, but the price is holding relatively tight and respecting support zones rather than collapsing afterward. Although not particularly strong, the volume has been steady enough to keep the move going. No indications of a total decline in liquidity, which frequently destroys continuation setups, are present. Rather, the market is processing the previous rally, which is a prerequisite for another leg upward. Source: Investopedia From a structural standpoint, HYPE’s ability to stay above the $34-$35 support range will determine its next possible move. The likelihood of a second upward wave greatly rises as long as this region remains stable. A breakout above the most recent local high, which is located between $40 and $42, would probably confirm continuation and pave the way for higher resistance levels. Will Ethereum find the fuel? Currently trading between $2,150 and $2,200, Ethereum is locked in a tight consolidation phase just below a significant resistance zone. ETH has finally stabilized following a protracted decline that pulled the asset from above $3,000, but the recovery is still precarious and heavily reliant on its capacity to regain overhead levels. In the vicinity of the current price, where several recent attempts to break higher have been unsuccessful, the chart clearly displays horizontal resistance. Ethereum is simultaneously maintaining above short-term support levels, resulting in a compression structure. A volatility expansion is typically preceded by this type of setup; the market is coiling, and a decisive move is imminent. Ethereum's trade-offs Technically speaking, ETH continues to trade below its major moving averages , such as the 50 and 200 EMAs, both of which are declining. This means that even with the recent stabilization, the overall trend remains negative. The local horizontal barrier and the dynamic pressure from declining moving averages near $2,300 to $2,400 will be the first layers of resistance that any upside attempt must overcome. You Might Also Like Mon, 04/06/2026 - 12:40 Shiba Inu Double Death Cross Completed Amid 5% Jump: Could This Be Bear Trap? By Tomiwabold Olajide Strong conviction is not yet implied by volume. Green candles have occasionally increased, but overall participation is still quite low. This suggests that there is no aggressive accumulation in the current move and that buyers are cautious. To put it another way, ETH is not being actively pushed higher; rather, it is just not being sold as forcefully as it once was. There’s always a real chance that this consolidation will become a continuation pattern instead of a reversal. Ethereum might return to lower demand zones if support between $2,050 and $2,100 fails.instead of a reversal. Ethereum might return to lower demand zones if support between $2,050 and $2,100 fails. #Bitcoin #Ethereum #Hyperliquid