In the volatile world of cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH) has shown remarkable growth recently, with the prices of both digital assets increasing by around 2%.
This rally has made investors wonder if more upside is likely soon.
As the two leading cryptocurrencies continue to garner attention and dominate the market, it is important to analyze the factors driving their recent surge and assess their prospects for continued growth.
Let’s delve into the current trends and predictions for Bitcoin and Ethereum.
bitcoin price
the current bitcoin price Standing at $27,201 with a trading volume of $9.7 billion in the last 24 hours.
This represents about a 2% increase in value during that period. Bitcoin holds the top position on Coinmarketcap, with a market capitalization of $527 billion.
There are currently 19,385,881 BTC coins in circulation out of a maximum supply of 21,000,000 BTC coins.
bitcoin price prediction
On the technical front, Bitcoin It is currently experiencing a significant rally after breaking the $26,865 resistance.
This breakout has resulted in a bullish engulfing candlestick pattern, indicating a possible continuation of the upward momentum in the market.
Key technical indicators including the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) are both showing bullish signs, suggesting that BTC has a strong potential for further upside.
However, there is a descending trend line forming near the $27,350 level to act as a resistance.
Nevertheless, based on the formation of three consecutive bullish candlesticks on the four-hour time frame, there is a high probability that BTC will surpass this level and target the next resistance at $27,500.
A break above this level could see BTC rally towards $27,800 with a potential breakout exposing it to $28,200.
On the downside, bitcoin has a key support at $26,865, and a continuation of the downtrend could test the next support at $26,001.
Traders should closely watch the $26,800 level as it will provide further insight into BTC’s price action.
ethereum price
current price of Ethereum $1,847, and has registered a trading volume of $4 billion in the last 24 hours.
Ethereum has seen a modest increase of around 1% during this time. With a live market capitalization of $222 billion, Ethereum ranks second on Coinmarketcap.
The circulating supply of Ethereum is approximately 120,256,010 ETH coins.
Ethereum Price Prediction
Like bitcoin, the other major cryptocurrency, Ethereum, is currently experiencing a strong uptrend after finding support near the $1820 level, which is the 50-day exponential moving average.
on the upside, Ethereum Resistance is likely to be encountered near $1870, and a decisive break above this level could further strengthen Ethereum price. The next important resistance is near the $1900 level.
If Ethereum manages to surpass this level, it could potentially target the $1920 level.
However, it is important to consider key technical indicators such as the RSI and the MACD, both of which indicate a bullish sentiment. If Ethereum breaks below the $1820 level, it could find support near the $1780 or $1760 levels.
Top 15 Cryptocurrencies to Watch in 2023
Stay informed about the latest ICO projects and alternative cryptocurrencies by regularly exploring our curated list of the top 15 most promising digital assets to watch in 2023.
This carefully selected roster has been compiled by industry experts from industry talk and cryptonewsMake sure you have access to professional recommendations and insight.
Stay ahead of the curve and discover the potential of these cryptocurrencies as you navigate the ever-evolving world of digital assets.
Disclaimer: The Industry Talks section features insights by crypto industry players and is not part of the editorial content of 0x0news.com.
Find the best price to buy/sell cryptocurrency
