💵 💴 💶Elon Musk Explores Blockchain for Government Efficiency with D.O.G.E💴 💶

According to a Bloomberg report, Musk is investigating how the D.O.G.E blockchain can enhance governance by increasing transparency and reducing costs. Potential applications include tracking government spending, securing sensitive data, managing payment systems, and monitoring federal assets. This initiative could mark a transformative step for public administration in the United States.

Trump’s Crypto Moves Seen by Europe: “We Should Do the Same”

Donald Trump has made significant moves in cryptocurrencies, from supporting Ross Ulbricht’s release to creating meme coins and forming a “Presidential Working Group.” The European Union appears to be closely monitoring these developments. Notably, Trump signed an executive order yesterday to establish the “Presidential Working Group on Digital Asset Markets.” This group will focus on creating reserves with cryptocurrencies and regulating stablecoins.

GLOBAL MARKETS

The U.S. dollar gained value following a dispute between Colombia and the U.S., where Colombia initially refused to accept a military plane carrying deported migrants. In retaliation, U.S. President Donald Trump threatened sanctions and taxes on the country. However, according to a White House statement yesterday, Colombia has since agreed to accept the plane, leading the U.S. to suspend its plans for sanctions and taxes.

Technical Overview

DXY

Bitcoin initiated an uptrend with Trump officially taking office, reaching as high as $109,000. Setting a new all-time high, BTC is expected to extend its bullish trend to $123,194 with daily closes above the $108,286 region.

Resistance: 118,500 / 123,550 / 131,029
Support: 108,985 / 92,000 / 88,362

BTC/USD

Bitcoin surged to $109,000 following Donald Trump’s official return to office, but faced selling pressure after failing to sustain above the $108,286 level. If BTC closes above the $108,186 resistance, it could climb further to $123,194.

Resistance: 108,985 / 118,500 / 123,550
Support: 92,000 / 88,362 / 80,598

ETH/USD

Ethereum has seen a long-awaited rise, reaching $3,400. The next critical resistance zone to monitor is $3,539. A strong breakout above this level could further sustain Ethereum’s uptrend.

Resistances: 3,539 / 4,086 / 4,782
Supports: 3,110 / 2,808 / 2,134

NASDAQ

The index’s uptrend continues to strengthen within the ascending channel structure on weekly charts. Short-term declines could lead to resistance breakouts, potentially driving the index back to 22,143 in the near term. The key support zone to watch for pullbacks is 19,643.

Resistances: 22,143 / 25,320 / 26,979
Supports: 19,643 / 17,681 / 16,303

BRENT

Brent Crude is experiencing medium-term recoveries and has regained its previously lost channel structure, continuing its uptrend. Having surpassed the 76.98 resistance level, prices are expected to climb toward the 85.00 range if sustained above this level. Key support during pullbacks is 72.37.

Resistances: 85.84 / 95.53 / 102.43
Supports: 80.00 / 76.15 / 70.17

EURUSD

The Euro formed a double top at the 1.11 level and entered a downtrend. After breaking below the 1.10 support, it has retreated to the lower band of its channel at 1.0367. Buyers may step in at this critical support, but a break lower could see further declines to 1.018.

Resistance Levels: 1.0575 / 1.1043 / 1.1213
Support Levels: 1.0180 / 0.9936 / 0.9542

XAUUSD

Gold, after initiating an upward momentum, experienced a pullback from the 2787 resistance zone and lost its current support level. A close below this area is expected to maintain the selling pressure on gold.

Resistance Levels: 2760 / 2790 / 2800
Support Levels: 2717 / 2763 / 2666

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