Bitcoin (BTC / USD), Ethereum (ETH / USD) price, chart and analysis
The The weekend rally in the cryptocurrency room saw Ethereum easily over $ 3,000, while Bitcoin traded for the first time since mid-May for a short time over $ 45,000 as buyers dominated price activity. Although the market has since entered a consolidation phase, the outlook for cryptocurrencies is positive in the coming weeks. Bitcoin is slightly higher than the previous resistance zone, at about $ 43.5,000, while Ethereum’s pricing follows the pattern of the end of February / beginning of April, bringing the ETH to $ 4,380 in five weeks.
Bitcoin’s recent 50% + rally is now testing a 200-day simple average and could dampen further gains in the short term. A pause and close above this figure would allow BTC to test the $ 47,000 level before playing $ 50,000.
Bitcoin Daily Price Chart (November 2020 – August 9, 2021)
Ethereum’s current daily schedule shows many similarities between the consolidation and pricing measures observed in the late eveningFebruary and earlyApril. All three moving averages are now in positive form, while the 50-day sma is now above the 200-day sma, breaking the golden cross.
Ethereum daily price schedule (December 2020 – August 9, 2021)
Ethereum / Bitcoin levis it also reaps recent benefits, but the outlook remains positive again if all three simple moving averages are in order. Support between 650 and 670 may come under pressure, but if this is the case, the spread is likely to move up again and retest the previous week’s 730 for several weeks.
Ethereum / Bitcoin Daily Spread (January – August 9, 2021)
Chart through @IG.com
What is your view Bitcoin andEthere – bullish or bullish ?? You can let us know via the form at the end of this article or contact the author via Twitter @ nickcawley1.