According to CrypNuevo, Ethereum's current price consolidation between $1700 and $1550 mirrors previous patterns, suggesting a potential buying opportunity. With Bitcoin maintaining its 1W50EMA bull market support and BTC.D (Bitcoin dominance) not yet peaking this cycle, CrypNuevo is initiating significant spot buys in this price range, indicating confidence in a potential bullish outcome.

According to CrypNuevo, Bitcoin is currently experiencing compression between the 1-week 50 EMA and the 1-day 50 EMA, which historically precedes an aggressive market move. The pattern suggests potential for multiple retests of the bull market support before a decisive movement occurs.

According to CrypNuevo, Bitcoin could likely visit the $77k-$78k range after losing range lows and support. This is attributed to the presence of a CME gap and the weekly 50EMA, which historically acts as a bull market support level. Most CME gaps are eventually filled, enhancing the likelihood of this price movement. Source: CrypNuevo.