While remarkable developments continue to occur in the cryptocurrency market, investors’ expectations for upward momentum are decreasing day by day. Especially Bitcoin The rising adventure that started with continues with selling pressure and this situation causes serious losses in the altcoin market. So what is expected for Bitcoin and Ethereum in the coming days? Let’s examine it together.
Bitcoin Chart Analysis
Daily Bitcoin The falling channel formation on the chart continues to remain on the agenda. Bitcoin, which touched the support line with the selling pressure experienced in the past weeks, managed to gain upward momentum again with the support it saw from here, but the EMA 200 (red line) average working as resistance caused a consolidation process on the chart. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
The most important support level that investors should follow on the Bitcoin chart is the $58,347 level. A daily bar close below this level could cause the Bitcoin price to lose momentum and bring the $53,000 level back on the agenda.
The most important resistance level to watch out for on the daily Bitcoin chart is the EMA 200 average of $69,940. The fact that this level has acted as resistance in recent days reveals the strength of this resistance. If the Bitcoin price closes above this level, the $66,000 level may come to the fore.
Ethereum Chart Analysis
Ethereum The rising channel formation on the daily chart managed to break with the ETF news, but after a period of almost five months, the Ethereum price continues to trade in the formation again. The fact that the EMA 9 (blue line) and EMA 21 (green line) averages have acted as resistance in recent days is causing the pressure to increase in the short term.
The most important support level to follow on the Ethereum chart is $2,554. A daily bar close below this level could lead us to target the support line at $1,900.
The most important resistance level to watch out for on the daily Ethereum chart is the EMA 21 average of $2,717. A daily bar close above this level could pave the way for contact with the resistance line at $3,000. For more detailed technical analysis charts, you can watch our latest video published on our Youtube channel:
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
