Bitcoin, Ethereum Price Prediction- Market Remains Uncertain as BTC and ETH Reject Higher Prices
Bitcoin, Ethereum price prediction: Market leaders struggling to sustain at higher levels create 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. Moreover, 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 9.59% to $0.07013. However, Celo and Trust Wallet Token are 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
Source- Coinmarketcap
Amid 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.
Source- 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.
Ethereum price
Source- 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.
Source-Tradingview
The altcoin 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.
- VanEck Registers Lido Staked Ethereum Trust in Delaware, LDO Up 7%
- Fed’s Lorie Logan Urges Caution on Further Rate Cuts Citing Inflation Risks
- Nasdaq-Listed Fitell Adds Pump.fun’s PUMP To Supplement Solana Treasury
- FG Nexus to Tokenize Stock on Ethereum as SEC Weighs 24/7 Onchain Stock Trading
- Bitcoin Still Undervalued, JPMorgan Forecasts Rally to $165,000
- Pi Network Price at Risk of Another Crash as Mysterious Whale Stops Buying
- Solana Price Eyes $360 After Bullish Retest As VisionSys AI Deploys $2B Treasury Strategy
- Cardano Price Forecast As Hashdex Listing Fuels Optimism For $1.27 Breakout
- BONK Price Rally Ahead? Open Interest Jumps as TD Buy Signal Flashes
- Shiba Inu Price to Surge as Whales Buy and Team Commits to Shibarium Growth
- XRP Price Prediction After Ripple CTO David Schwartz Resigns
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
