Bitcoin, Ethereum Price Prediction- Crypto Market Sets Relief Rally? – Crypto News – Crypto News
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Bitcoin, Ethereum Price Prediction- Crypto Market Sets Relief Rally? – Crypto News

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3 years ago

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Bitcoin, Ethereum price prediction: The BTC and ETH price breakout from their respective resistance suggests a possible recovery in the near term. The market leaders’ signs for escaping the consolation phase may push the majority of altcoins higher.

Furthermore, by 10:28 am EST, the global crypto market stood at $581 Billion, showing a 2.23% rise since yesterday. However, the total crypto market volume dropped by 5.57% and reached the $44.76 Billion mark. The total volume in DeFi is currently at $2.94 Billion, making up 6.65% of the total crypto market 24-hour volume.

Top Gainers and Losers

Source- Coin360

With the crypto market in green today, the GMX and Fantom tokens are the highest gains among the top 100 listed cryptocurrencies. In the last 24 hours, the GMX price rose 12.49% to reach the current price of $46.05, while the FTM price rose 9.23% to $0.2372. On the flip side, Chain and Helium tokens are experiencing a major loss. The XCN price at $0.041 shows a 4.21% fall, while the HNT price at $2.4 shows a 4% drop.

Bitcoin Price

BTCSource- DigitalCoinPrice

A descending trendline had been limiting Bitcoin price rise To install fortnite. The multiple rejections from this resistance indicated sustained selling from the traders. However, today the coin price jumped 2.5% high and breached the overhead resistance with a significant volume rise.

This bullish breakout indicates a sentiment shift from selling and rallies to buying on dips. Currently, the BTC price trades at $16847 and is expected to retest the breached resistance to check the sustainability for higher prices.

Bitcoin Price PredictionSource- DigitalCoinPrice

If the Bitcoin price sustains above the breached trendline, the price could rise another 8% to hit around the $18000-$18200 supply zone.

However, a 4-hour candle closing below the trendline could offset the bullish thesis.

ether price

ethSource- DigitalCoinPrice

The ongoing consolidation in Ethereum 4-hour time frame chart revealed the formation of an inverted head and should pattern. This bullish reversal chart pattern offers a significant upswing upon the breakout of its neckline resistance.

The $1231 mark stands as a neckline resistance for this pattern, and today, with a jump 4% and a high spike in volume, the prices breached this barrier. This breakout offers a long-entry opportunity for interested traders if the coin sustains the upcoming retest phase.

Ethereum Price PredictionSource-DigitalCoinPrice

As per the technical setup, this distance between the lowest swing and neckline of the pattern shot from the breakout point is out of target. Thus, the post-retest rally may drive the ETH price up 9% to reach $1385.

From the past 5 years I am working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. raech out to me at brian(at)coingape.com

The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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