Ethereum and Bitcoin Price Analysis

Ethereum Price Today: ETH Bulls Need To Clear This Last Hurdle To Ensure Bull Rally Bitcoin Price Today: BTC Bulls Break Through $40k Milestone.

Ethereum :

The ETH bears were using the descending trendline to sell on rallies and drive the price lower.

– The ETH price acquired the 20-day DMA. – The intraday trading volume in ETH/USD is $10.2 Billion, indicating a 37.2% fall.

The ETH chart indicated a strong breakout candle of 10% intraday gain breached through the overhead resistance.  However, another significant resistance, i.e., descending trendline stand at the forefront will retest the buying before any further growth.

Bitcoin :

Bitcoin will likely retest the $40000 mark to determine if the breakout was genuine.

Bitcoin Fear and Greed Index rests at 37 out of 100. – The daily RSI slope spikes above the neutral zone(50). – The intraday trading volume in the BTC is $16.3 Billion, indicating a 46 % fall.

The recent price jump has flipped the dynamic resistance of 20-day EMA into possible support.  However, the buyers are likely to face the trend defining 200 EMA near the $45000 mark, which would provide better confirmation for bullish recovery.