Predictions For Bitcoin(BTC), Ethereum(ETH) Price, Where Will They Stand in the Next 24 Hours?

The post Predictions For Bitcoin(BTC), Ethereum(ETH) Price, Where Will They Stand in the Next 24 Hours? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

Bitcoin(BTC)

Bitcoin price showcased extreme strength in the past couple of days as it successfully smashed the crucial resistance at $42,000. Despite multiple attempts in the past, the asset remained much below these levels. But despite the price range high above $45,000, no strong possibilities of maintaining the uptrend is seen with the price. 

The BTC price is currently hovering around the crucial zone in between $46,109 and $41,201. These are the present strong resistance and the support levels to test accordingly. If in case the price slices through the resistance levels then the levels around $50,000 may be imminent. Or else if the selling volume accumulates, then the asset may eventually drop hard yet again beyond $41,000. And this time it may be extremely tough and time-consuming for the asset to recover back. 

Ethereum(ETH)

On the other hand, Ethereum price is well on track regardless of the current market trend. The ETH price no doubt had surged a little in the past couple of days following the BTC price rally, but it continued to follow its calculated steps to prevent a huge plunge. Currently, the asset is following a significant uptrend and not falling prey to any bears. 

The Ethereum price is testing one of the crucial support levels around $3080 and also the lower support of the channel. The ETH price if rejected at these levels then woefully the asset may plunge back towards the lower support just below $3000. And if it fails to sustain at these levels then it may hit the lower support. A flip from this level may enable the asset to maintain within the pattern and continue to range high.

Collectively, the current pullback may be only a slight correction which may end very soon. But at the same time, the price rally also appears to have slowed down a bit. Therefore without any strength in the rally, Bitcoin(BTC) & Ethereum((ETH) prices may continue to consolidate within these ranges until either huge boosts kicks-off another leg up or an extreme-sell-off drags the price down. 

Source link