Crypto Assets Face Resistance as Sentiment Reaches New Heights

Bitcoin and Ethereum are nearing critical resistance levels as sentiment in the market reaches new heights.

The 4-hour charts for both assets show signs of buyer exhaustion, with volume drying up on the push higher. The Relative Strength Index (RSI) has managed to climb out of its downtrend, but momentum on the squeeze indicator has faded to zero.

Ethereum is stalling just under a key supply zone, while Bitcoin is tapping the top of its upward channel. The RSI for Ethereum has been hovering around 55-60, cooling off through time instead of price.

The market makers and whales are taking advantage of this situation to flush out late high leverage longs and grab cheap liquidity below support. It's essential for traders to be cautious and manage their risk as volatility picks up.