NewsletterBitcoin, Ethereum Price Prediction- BTC And ETH Prices Follow The Same Bullish Pattern
Bitcoin, Ethereum price prediction: the crypto market turns green today, continuing its prior recovery to reclaim higher ground. At 10:15 am EST Saturday, the global crypto market stood at $1.02 Trillion, with a 2.46% gain over the last day.
Furthermore, the total crypto market volume over the last 24 hours is $79.72 Billion, representing a loss of 7.08%. The total volume in DeFi is currently $3.56 Billion, 4.47% of the total crypto market 24-hour volume.
Top Gainers and Losers
Source- Coin360
Among the top 100 cryptocurrencies, Dogecoin and Mina are the top gainers, whereas the top losers are Casper and Klaytn. The DOGE price trades at $0.1062 with a 26.78% gain in the last 24 hours, while MINA price moves at $0.0709, with a 16.78% jump. Furthermore. CSPR price exchanges hands at $0.411, registering a 4.66% loss, while KLAY price trades at $0.2454 with a 4.24% drop.
Bitcoin Price
Source- coinmarketcap
The Bitcoin price shows the formation of a rounding bottom pattern in the daily timeframe chart. In theory, this bullish pattern should ideally lead to a steady recovery until the price reaches the neckline resistance, which in our case is $24500.
As of now, the Bitcoin price is struggling to sustain above the $20750 support zone. The coin price currently trades at $20737 with an intraday gain of 0.69%. Furthermore, a long-wick rejection candle indicates a high possibility for a bearish reversal which could plunge prices to $19500.
Source- Tradingview
However, the bullish pattern will remain intact until the Bitcoin price sustains above the recently reclaimed 20-and-50-day EMAs.
Ethereum Price
Source- coinmarketcap
In the daily chart, the Ethereum coin price follows the exact chart pattern, i.e., a rounding bottom pattern. However, the Ether price has outperformed bitcoin in this ongoing recovery, registering a 27.2% gain within a fortnight.
As of now, altcoin currently trades at $1615, and with an intraday jump of 4%, it breached the horizontal level of $1575-$1600. A daily candle closing above this level will confirm an upside breakout and intensify the bullish momentum.
This breakout could drive prices to hit the $1700 mark, followed by $1800.
Source- Tradingview
However, the overbought-RSI indicates the Ethereum price has rallied significantly in a short span, and therefore a correction or consolidation above $1600 is expected to sustain the bull run.
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