Bitcoin, Ethereum Price Prediction- Hints Upcoming Relief Rally In Crypto Market
Bitcoin, Ethereum price prediction: the BTC and ETH price showing sustainability above their respective support gives major altcoins a significant boost to chase higher levels. Moreover, the global crypto market rose to $840.72 Billion at 7:11 am EST Monday, a hike of 0.54% since yesterday.
In addition, the total crypto market volume has appreciated 54.5% to $73.80 Billion in the last 24 hours. Currently, the total volume in DeFi stands at $4.51B, which makes up 6.11% of the total crypto market 24-hour volume.
Top Gainers and Losers
Source- Coin360
Within the top 100 cryptocurrencies, Trust Wallet Token(TWT) at $2.3 is the higher gainer with a 48.29% rise in the last 24 hours, followed by KuCoin Token(KCS) at $7.94 with a 17.30% increase. Meanwhile, the top losers are XDC Network and Casper, with the XDC price dropping 7.21% to hit $0.02465 and the CSPR price falling 6.54% to $0.02916.
Bitcoin Price
Source- Coinmarketcap
Amid the ongoing consolation, the Bitcoin price rebounded twice from the $16000 support within a week. The coin price jumped 5.9% from the aforementioned support and currently trades at the $16781 mark.
Moreover, an evident bullish divergence in the daily-RSI slope accentuates the rising buying activity at this support. A 60% rise in volume activity supports a bullish reversal from $16000. With sustained buying, the coin price should rise 9% to rechallenge the $18200 breached support.
Source- Tradingview
The coin holders should keep a close eye on the price action at this resistance, as a reversal from this barrier will indicate the traders are selling on rallies.
Ethereum price
Source- Coinmarketcap
The Ethereum daily time frame chart shows a rising three-method candlestick pattern. This bullish continue pattern is often spotted in the ongoing bull run, as it replenishes the buying pressure for a further price rally.
This candle step-up shows sustainability above the $1250-$1220 support zone, offering a suitable footing for buyers. Thus, a daily candle stick closing above the $1250 mark will drive the prices 12% higher to hit the $1400-$1420 resistance zone.
Source-Tradingview
However, the aforementioned resistance aligned with 20-and-50-day EMA offers a dreadful barrier to overcome. Thus, if the market sentiment remains bearish, a possible reversal from the $1400 resistance will prolong the Ethereum downfall.
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