Published 8 hours ago
Bitcoin, Ethereum price prediction: the crypto market turns green today, continuing its prior recovery to reclaim higher ground. At 10:15 am EST Saturday, the global crypto market stood at $1.02 Trillion, with a 2.46% gain over the last day.
Furthermore, the total crypto market volume over the last 24 hours is $79.72 Billion, representing a loss of 7.08%. The total volume in DeFi is currently $3.56 Billion, 4.47% of the total crypto market 24-hour volume.
Top Gainers and Losers
Among the top 100 cryptocurrencies, Dogecoin and Mina are the top gainers, whereas the top losers are Casper and Klaytn. The DOGE price trades at $0.1062 with a 26.78% gain in the last 24 hours, while MINA price moves at $0.0709, with a 16.78% jump. Furthermore. CSPR price exchanges hands at $0.411, registering a 4.66% loss, while KLAY price trades at $0.2454 with a 4.24% drop.
The Bitcoin price shows the formation of a rounding bottom pattern in the daily timeframe chart. In theory, this bullish pattern should ideally lead to a steady recovery until the price reaches the neckline resistance, which in our case is $24500.
As of now, the Bitcoin price is struggling to sustain above the $20750 support zone. The coin price currently trades at $20737 with an intraday gain of 0.69%. Furthermore, a long-wick rejection candle indicates a high possibility for a bearish reversal which could plunge prices to $19500.
However, the bullish pattern will remain intact until the Bitcoin price sustains above the recently reclaimed 20-and-50-day EMAs.
In the daily chart, the Ethereum coin price follows the exact chart pattern, i.e., a rounding bottom pattern. However, the Ether price has outperformed bitcoin in this ongoing recovery, registering a 27.2% gain within a fortnight.
As of now, altcoin currently trades at $1615, and with an intraday jump of 4%, it breached the horizontal level of $1575-$1600. A daily candle closing above this level will confirm an upside breakout and intensify the bullish momentum.
This breakout could drive prices to hit the $1700 mark, followed by $1800.
However, the overbought-RSI indicates the Ethereum price has rallied significantly in a short span, and therefore a correction or consolidation above $1600 is expected to sustain the bull run.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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