Bitcoin (BTC) and Ethereum (ETH) ready for price consolidation?

Bitcoin (BTC) and Ethereum (ETH) ready for price consolidation?

The crypto industry has been down for months already. However, this weekend was relatively quiet. The two major cryptos, bitcoin (BTC) and ether (ETH), continue to consolidate despite market uncertainty. However, brewing seems like a big price move: green or red? The sequence below!

Bitcoin (BTC) and Ether (ETH), ready for volatility recovery?

While the cryptocurrency market is in the red, the best cryptocurrencies through market capitalization continue to catch the eye. Since the onset of the financial crisis, key assets have been at the heart of the news and questions have been flying around. What about BTC? Will Ether reach the $ 1500 mark? So many questions that cast doubt and make investors a little cool.

If so far the flagship cryptocurrencies have shown no signs and were stagnant, the trend seems to be about to reverse. In fact, some indicators indicate that volatility may resume. Who says volatility says price movement. So the price of bitcoin and Ethereum could break above the current range and trade at higher prices. Remember, since the collapse of the markets, bitcoin has lost more than 50% of its value. Current prices are therefore a blow to companies operating in the sector.

Over the past few days, bitcoin has stuck between $ 21,000 and $ 21,500 and ether is trading between $ 1,190 and $ 1,250. Both major crypto heads undoubtedly declined at the wrong time. In fact, the feeling of extreme fear may slow down the market. More and more investors are selling their assets, because the data is not positive. When bitcoin rallies, more decline immediately follows.

However, a nine-hour chart of bitcoin and ether selling signals from Tom DeMark’s sequential indicator was presented. There was no clear resistance or breach of support despite the brief fall in BTC and ETH following technological development. Bearish formations were developed in the form of nine green candles. Fortunately, these represent a correction between one and four candles.

Bitcoin and ether, up or down?

As the markets have gone green, cryptocurrency prices have been in the spotlight. Since bitcoin is the largest asset by market capitalization, its price usually reflects the trend that the market will take. Because of this, the historic collapse suffered by the leading crypto has cast doubt on the crypto industry. However, trading history may show the direction the prices will take.

Bitcoin has bought between $ 22,100 and $ 21,500 at more than 200,000 addresses. Meanwhile, more than $ 570,000 BTC has purchased between $ 20,800 and $ 21,500 at about 882,400 launches. Given the lack of resistance, bitcoin could start its uptrend at $ 25,000 on a 9-hour candlestick above $ 22,100. However, the next critical area of ​​interest could be $ 19,000 if the $ 20,800 support level is reached.

Ether is in the same dilemma as bitcoin. In fact, the crypto needs to maintain the $ 1,100 support level. If he ever loses it, the price of this cryptocurrency could drop to $ 600. Therefore, if Ether wants to have a chance to reach the $ 1,700 mark, it must completely break the $ 1,320 resistance barrier.

The macroeconomic outlook is becoming increasingly worrying for investors. As fears of the recession increase, only decisive closures above support or resistance could allow markets to converge. Bitcoin and ether have the art of making roller coasters. Therefore, even if some measures indicate that the bottom is close, the downtrend may continue before a possible reversal.

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Eddy Senga avatar

Eddy Senga

The world is changing and adaptation is the best weapon to survive in this turbulent universe. As a crypto community manager at the base, I am interested in everything directly or indirectly related to the blockchain and its derivatives. To share my experience and share an interesting field for me, there is nothing better than writing informative and reassuring articles at the same time.

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