Crypto Market Today – Bitcoin and Ethereum

  • Bitcoin price prints somewhat bottoming signals as the coin hovers at the $42K mark.
  • ETH price should overcome the 200-day Simple Moving Average at $3,431 to witness a 15% uptick.
  • Altcoins record comebacks as Bitcoin teases reversal.

Bitcoin has its price near a critical barrier on sideways actions, indication an imminent massive move. On the other side, Ethereum shows possible rallies after the latest downbeat. Some alternative coins already swing higher, reflecting optimism and strength.

BTC Price Ready to a Swift Surge

Bitcoin saw its price stuck around the $42,000 mark for almost one week. The dominant crypto might print a bottom following a third dip inside the liquidity pool beneath $41,492. The swing low might trigger an upswing that pierces the mentioned support floor.

The resulting upswing targets the resistance barrier at $45,678, following a 10% increase. Nevertheless, the uptrend might extend towards $48,027 or 200-day SMA near similar levels. Bitcoin might witness a total of 15% urge if the highlighted bullish case emerges.

Although the optimism, breaching the liquidity pool’s bottom limit of around $39,057 will form a lower low, annulling the bullish narrative. That way, Bitcoin might suffer further crashes towards $30,000.

ETH Price Prepares a Relief Surge

Ethereum price seems to follow BTC’s movements, and the altcoin hovers near the barrier of $3,153 now. Though the altcoin recovered beyond this area, Ether might still slice beneath it to create a swing low, fulfilling the bottoming process.

Such development by ETH price might trigger a surge towards $3,629, confirming a 15% increase, mimicking BTC’s case. Meanwhile, the upward rally might overcome the immediate resistance obstacle and run higher to collect liquidity beyond $3,852. The alt will experience a 22% increase if the positive case appears.

Nevertheless, Ether should overpower the 200-day SMA near $3,431 to accomplish the 22% surge. Failure to do that may result in a 6% downswing towards the support level of $2,963.

A 6hr candle close under this barrier will print a lower low, canceling the bullish motion. Such a move might push ETH lower to value areas of $2,764. Nevertheless, the altcoin market seems ready to launch comebacks following the latest crash.

Leave a Comment