💵 💴 💶Lagarde Rejects Bitcoin Reserves; Czechia Investigates💴 💶

European Central Bank (ECB) President Christine Lagarde expressed strong skepticism regarding the role of cryptocurrencies in central bank reserves, stating she doesn’t expect any EU country to adopt Bitcoin reserves. Her comments came after the Czech National Bank (CNB) President Aleš Michl received approval from the CNB board to explore alternative assets for the country’s reserves.

Litecoin Price Aims to Overcome 2-Month Barrier with ETF Proposal

Litecoin (LTC/USD) has gained upward momentum, with its price rising by 10% in the past 24 hours. This surge comes as the U.S. Securities and Exchange Commission (SEC) reviews a proposal for a Canary Spot Litecoin ETF. LTC is confirming an upward double-bottom formation, but it has yet to break the significant resistance at $133. There is a divergence of opinion in the market—whales are beginning to sell off their holdings, while individual investors remain optimistic.

GLOBAL MARKETS

Asian markets saw fluctuating movements as the South Korean stock market, dominated by technology stocks, reopened after the holiday. Strong earnings reports from major U.S. tech companies boosted risk appetite, while statements from U.S. President Donald Trump on potential tariffs led to a rise in both the dollar and gold. Investors are also keeping a close eye on interest rate decisions from key central banks this week. The U.S. Federal Reserve (Fed) kept rates steady as expected, while the ECB cut rates yesterday.

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 NAS100 index has experienced a sharp pullback in response to the launch of China’s AI initiative, reflecting significant pressure on U.S. indices. The major support level to watch on the index is $19,643. Losing this level could intensify the selling pressure on the index.

Resistance Levels: 22,143 / 25,320 / 26,979
Support Levels: 19,643 / 17,681 / 16,303

BRENT

Brent oil is in recovery mode, reclaiming its previously lost channel. Having broken above the 76.98 resistance, the price is likely to target the 85.00 range. The critical support level is 72.37, which should hold to maintain the uptrend.

Resistance Levels: 80.00 / 85.84 / 95.53
Support Levels: 76.15 / 70.17/ 69.99

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 has reached a new ATH after starting an upward momentum, currently trading around 2,794. If there is a pullback, the key support levels to watch are 2,787 and 2,764.

Resistance: 2,800 / 2,850 / 2,870
Support: 2,787 / 2,764 / 2,717

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