Bitcoin, Ethereum Price Prediction- Market Remains Uncertain as BTC and ETH Reject Higher Prices – Crypto News – Crypto News
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Bitcoin, Ethereum Price Prediction- Market Remains Uncertain as BTC and ETH Reject Higher Prices – Crypto News

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3 years ago

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Bitcoin, Ethereum price prediction: market leaders Struggling to sustain at higher levels creates indecisiveness among crypto trades A sudden rise in selling pressure undermined the earlier gains and prolonged the ongoing consolidation in Bitcoin and Ethereum.

Furthermore, at 10:18 am EST Tuesday, the global crypto market rose to $861.4 billion, gaining 0.89%. in the last 24 hours, Furthermore, the total crypto market volume surged 28.9% to hit the $38.44 Billion mark. The total volume in DeFi is currently at $2.59 Billion, which makes up 6.75% of the total crypto market 24-hour volume.

Top Gainers and Losers

Source- Coin360

The top 100 listed cryptocurrencies, the Axie Infinity and Cronos show the highest gains today. As of press time, AXS price surged 21.49% to reach the $8.26 mark; Meanwhile, CRO price increased by 9.59% to $0.07013. However, Celo and Trust Wallet Token are the top losers, with CELO’s price at $0.6634 down 3.33%, while TWT’s price at $2.41 is down 0.33%.

Bitcoin Price

BTCSource- Coinmarketcap

Amidst the recent recovery in the crypto market, the bitcoin price gave a massive breakout from the local resistance of $16900. Following this jump, the price action went sideways for the next four days to sustain above the breached resistance.

However, this consolidation shaped into a double bottom pattern in the 4-hour time frame. Earlier today, the BTC price pierced the $17200 neckline resistance, offering additional confirmation for a further price rally.

Bitcoin Price PredictionSource- Tradingview

The Bitcoin price currently trades at $17209 and tries to retest the breached neckline. Thus, with sustained buying, the prices may rise 7.5% higher to the $18500 mark.

Conversely, a 4-hour candle closing below the neckline will invalidate the bullish thesis.

ether price

ETHSource- Coinmarketcap

A parallel channel pattern is leading the ongoing recovery in the Ethereum price chart. The ascending trendline of the 4-hour chart pattern offers dynamic support to the rising prices.

However, in theory, this rising channel pattern often triggers a significant downfall upon the breakdown of the bottom support trendline. Furthermore, the current bull-cycle within this pattern struggles to surpass the last swing high of $1300.

Thus, the failure to break the $1300 resistance suggests the losing bearish momentum, which may bolster a breakdown of the lower trendline.

Ethereum Price PredictionSource-Tradingview

The altcoin It currently trades at $1270 and is about to retest the support trendline. Thus, a 4-hour candle closing below the trendline will trigger this aforementioned pattern for a significant price correction.

Anyhow, the Ethereum bull run will continue until this pattern is intact.

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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