NewsletterBitcoin, Ethereum Price Prediction- Bullish Reversal In Market Leaders Pushed Altcoins Higher
Bitcoin, Ethereum price prediction: the BTC and ETH price bullish reversal climbs higher, keeping an early bullish sentiment in the crypto market. Moreover, the global crypto market at 10:55 am EST Tuesday stands at 850.04B, with a hike of 1.77% since yesterday.
However, the total crypto market volume has depreciated 20.32% to $65.87 Billion in the last 24 hours. Currently, the total volume in DeFi stands at $3.94 Billion, which adds up to 5.98%3 of the total crypto market 24-hour volume.
Top Gainers and Losers
Source- Coin360
The largest gainer among the top 100 cryptocurrencies is Stacks(STX) at $0.298, up 37.90% in the last 24 hours, followed by Quant(QNT) at $121.39, up 11.77%. On the other hand, Trust Wallet Token and Helium are the top losers, with TWT price dropping 20.51% to $2.08 and HNT price dropping 4.78% to $2.54.
Bitcoin Price
Source- Coinmarketcap
Within a week, the Bitcoin price has rebounded twice from the $15800 support, indicating that buyers are actively defending this level. So far, the bullish reversal has raised the prices by 6.2% and pushed it to its current level of $16855.
A bullish divergence in the daily RSI slope indicates replenishing bullish momentum, which may encourage considerable recovery. With sustained buying, the Bitcoin price should rise 8% higher to hit the $18250-$18400 resistance zone.
Source- Tradingview
The aforementioned resistance aligned with the 20-day EMA resistance offers a high possibility for the price to revert lower and resumption the prior correction.
Ethereum price
Source- Coinmarketcap
The Ethereum daily time frame chart shows multiple short-body candles with higher and lower price rejections hovering above the $1222 support. Thus, this candle structure indicates uncertainty in market participants and struggles for buyers to resume price recovery.
However, the buyers could continue to sustain above the aforementioned support; the buyers should manage to prolong this relief rally 12% higher to hit the $1400 supply zone.
Source-Tradingview
Nevertheless, with the overall market sentiment still bearish, the altcoin could resume the prevailing correction if hit by strong resistance. Anyhow, the 20-and-50-day gathered at $1400 resistance creates formidable barriers against buyers.
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