Bitcoin, Ethereum Price Prediction- ETH Outperforms BTC With Its Escape From Stagnant Market Condition
Bitcoin, Ethereum price prediction: The Bitcoin and Ethereum price consolidation for the last three weeks has created a sense of uncertainty in the crypto market. Though his sideways was meant to recuperate bullish momentum for the further rally, several altcoins have witnessed price correction as FUD rose among investors. Thus, the market leaders’ breakout from the range setup could reignite the prevailing recovery.
Top Gainers and Losers
Source- Coin360
Dogecoin and THORChain emerged as the top-performing cryptocurrencies among the leading 100, exhibiting significant gains over the past 24 hours. DOGE skyrocketed by 26.80% propelling its price to $0.09864, while RUNE saw a rise of 7.28%, reaching $1.56. On the other hand, Hedera and XDC Network encountered a drop in their value, with HBAR experiencing a 5.03% decrease and falling to $0.0679 and XDC declining by 3.16% to $0.04012.
Bitcoin
Source- Coinmarketcap
After the February second week’s growth, the Bitcoin price turned sideways after hitting the $28200 barrier. Moreover, with the growing uncertainty in the market, the coin price has been resonating in a fixed range between $28800 and $26500 over the past three weeks.
Anyhow, the rising 20-day EMA will soon hit the BTC price and can provide additional support to buyers.
Source-trading view
A potential breakout from $28800 with a daily candle closing above will release the build-up bullish momentum. The resulting rally may surge the prices by 10% to challenge the $31800.
On a contrary note, a breakdown below $26500 may threaten BTC for longer correction.
Ethereum
Source- Coinmarketcap
Similar to the Bitcoin price, the Ethereum coin price was trapped within a confined range, spread from $1855 to $1700 levels. However, today, the ETH price witnessed a 3% gain showing another breakout attempt from the $1855 barrier.
This bullish breakout will intensify the bullish momentum and encourage buyers for resumption of the prior recovery. However, the potential buyers must wait for the daily candle closing above the aforementioned and higher volume to confirm this breakout.
-Tradingview
The resulting rally may push the price 8.5% higher to hit the $2020-$2000 psychological resistance.
Anyhow, if the ETH price reverted below the $1855 mark by the day’s end, the coin holders could witness a prolonged consolidation.
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