Bitcoin, Ethereum Technical Analysis: BTC Bounces Back After Monday’s Selloff
Following Monday’s selloff, cryptocurrency markets mostly rebounded across the board, with bitcoin and ethereum prices rallying by as much as 10%. Overall the global crypto market cap was over 6% higher from yesterday’s session. Bitcoin Bitcoin, which fell to an intraday low of $33,184.06 during yesterday’s session, was up close to 9% as of writing, hitting a high of $37,247.52 in the process. After a false breakout from its support level of $34,170 to start the week, today’s move saw BTC/USD climb from this point, with some anticipating the potential for a....
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Analysts say the bitcoin market now looks less overheated than it did on Monday.
Ethereum was back in the green on Friday, as bulls returned to action following yesterday’s selloff. Crypto markets set aside concerns over Tesla’s bitcoin sale, extending this week’s rally in the process. Bitcoin was also up in today’s session, as it headed back towards $24,000. Bitcoin Bitcoin (BTC) prices rose on Friday, as markets rebounded following yesterday’s Tesla-led selloff. The world’s largest cryptocurrency climbed to an intraday high of $23,663.72 in today’s session, after dropping to $22,431.12 less than 24 hours ago.....
Ethereum Price Key Highlights. Ethereum price just finished testing the downtrend line resistance visible on the 1-hour chart and is starting to gain additional momentum heading back south. The 50% Fibonacci retracement level held as resistance on the pullback, putting ethereum price back on track towards the previous lows at 0.00156BTC. Ethereum price is resuming its impulse wave on the ongoing downtrend, possibly gearing up to test the previous lows or establish new ones. New lows in sight? Technical indicators are reflecting a return in bearish pressure, which suggests that sellers....
Ethereum Price Key Highlights. Ethereum price has broken above a short-term descending trend line and has been on a steady climb, but it is encountering a bit of resistance at an area of interest. This lines up with the Fib levels and a former consolidation area, which suggests that plenty of limit orders are located there. Ethereum price is still deciding where to go from here, as a selloff could bring it back to the previous lows while an upside breakout could confirm the bull run. Rally Overdone? Technical indicators seem to be suggesting that the rally is overdone, as RSI and....
Bitcoin price made a break of the short-term trend line support, signaling a potential selloff from here. Bitcoin Price Key Highlights. Bitcoin price had been moving above an ascending trend line on its 1-hour time frame. Price just made a downside break of support as risk aversion seems to be back in the financial markets. This could be an early signal of a pending selloff, although technical indicators are still giving mixed signs. Technical Indicators Signals. The 100 SMA is starting to cross above the longer-term 200 SMA, which suggests potentially stronger buying pressure. If so,....