Bitcoin continues its recovery after the major sell-off at the beginning of the week. However, yesterday's failure to break the weekly high casts doubt on the short-term bullish outlook. A similar situation is observed in Ethereum as well.
Yesterday, Vitalik Buterin made several statements regarding the Ethereum network. According to the lead developer, Ethereum's goals have always been clear:
"Ethereum aims to attract a large number of users, especially those who benefit from its openness, censorship resistance, and security features."
Buterin emphasized that Ethereum is working to become a decentralized platform for a wide range of applications, from financial tools to social networks. Ensuring network resilience and security is a priority, requiring continuous improvements and updates.
In the future, Ethereum's main focus will be on scalability and reducing transaction costs, which should help attract more users and developers, expanding the ecosystem. Additionally, plans include enhancing privacy and security to give users more control over their data.
Buterin also shared an optimistic vision for Ethereum's future, refining past initiatives such as ICOs, DAOs, and RAW (Rollup-Aware Wasm). He stressed the importance of a more responsible and sustainable approach to project funding, warning against excessive hype and speculation.
Regarding DAOs, Buterin emphasized the need for better governance mechanisms to prevent past vulnerabilities and ensure fair distribution of power.
As for RAW (Rollup-Aware Wasm), Buterin expressed confidence that this technology will significantly improve Ethereum's scalability, making it more accessible and efficient for a broader range of users and applications.
Bitcoin Technical Outlook
Currently, buyers are targeting a return to the $85,000 level, which would open the way for a move toward $87,200 and potentially $88,900. The long-term target remains $90,900, a breakout of which would confirm a return to a medium-term bull market.
In case of a decline, buyers are expected to step in at $83,000. A breakdown below this level could push BTC down toward $80,900, with the next major support at $78,800.
Ethereum Technical Outlook
A firm breakout above $1,929 would open the way toward $2,015, with the ultimate target being the yearly high at $2,117. A breakout of this level would confirm a return to a medium-term bull market.
On the other hand, buyers are expected around $1,848. A breakdown below this level could lead ETH toward $1,767, with the next major support at $1,682.
