NewsletterBitcoin, Ethereum Price Prediction- These Patterns May Bolster BTC And ETH Bullish Rally
Bitcoin, Ethereum price prediction: The crypto market continues to remain sideways and faces uncertainty from market traders. At 10:32 am EST Monday, the global crypto market stood at $1.065 Trillion with a 0.65% loss from yesterday.
Furthermore, the total crypto market volume over the last 24 hours is $67.87 Billion, which makes a 17.87℅ loss. The total volume in DeFi is currently $3.28 Billion, 4.84% of the total crypto market 24-hour volume.
Top Gainers and Losers
Source- Coin360
Among the top 100 cryptocurrencies, Litecoin and Basic Attention Token are the top gainers. Thus, the LTC price trades at $61.3 with a 12.1 gain in the last 24 hours, and the BAT price moves at $8.03, with a 6.44% jump. Conversely, the top losers are Chain and Aptos, where the XCN price exchanges hand at $0.0549, registering a 17.19% loss, while the APT price trades at $7.29 with a 7.95% fall.
Bitcoin Price
Source- Coinmarketcap
Following October’s 4th week of recovery, the Bitcoin price shifted on a lateral path. Since last week, the coin price has resonated between the $21000 and $20350 mark, creating a narrow range. In addition, the number of Doji candles at this resistance indicates uncertainty in market trends.
However, the 4-hour time frame chart offers insight into the possible outcome. This shorter time frame shows the formation of a descending triangle pattern. In theory, this bearish pattern could intensify the bearish momentum significantly. Currently, the Bitcoin price trades at $20420, with an intraday loss of 0.32%. Therefore, a breakdown below the $20350 neckline support could plunge the prices by 2% down to the $20000 mark.
Source- Tradingview
On a contrary note, a bullish breakout from the resistance trendline will undermine the bearish thesis and assist buyers in surpassing $21000.
Ethereum Price
Source- Coinmarketcap
In response to ongoing volatility in the crypto market, the Ethereum price showcases jerky movement short body daily candles. However, in the 4-hour, the uncertainty is reflected as a flag pattern. In theory, this pattern offers a short break period resuming the prior trend.
As of now, the Ethereum price trades at $1559, with an intraday loss of 1.21%. Thus, a bullish breakout of the overhead resistance will trigger the bullish contribution pattern and bolster buyers to overcome the $1640 mark.
Source- Tradingview
The daily-RSI slope turned down from the overbought region accentuated the prices stabilizing from the previous rally.
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