The varying price values of the cryptocurrency exchanges is one of those rare factors that every trader must be quite clearly aware of. Keeping in mind that this essential fact, its time to finally go through some recent price analysis of Bitcoin as well as Ethereum.
Since Bitcoin is facing selling on a rebound from 20-day EMA, it clearly suggests profit booking by the bulls and for the bears its short initiation.
However, the fact that must be kept in mind now is that a weak indication, as well as a fall to $4,914.11, might occur if the price shifts downward to below 20-day EMA. Moreover, this is major support and if there is any breakdown, the next stop will end being the 50-day SMA.
Well, a ray of hope might be seen as the price might resume and move upward if the bulls are capable of defending the support zone between the 20-day EMA.
Well speaking about Ethereum there are a few things that are noted quite recently. For the past three days, it has been trading just between the moving averages, its 20-day EMA seems to be nothing but flat and as far as the RSI is concerned, it’s below the midpoint as of now.
A breakout might be expected if the price remains somewhere near $167.20. Well if the opinions of expert analysts are kept in mind, they firmly believe that ETH/USD will soon gain the strength to beat the downtrend. Also, it might pick up a great momentum after the threshold of $190.54 is crossed.
The targets, as of now, that one can expect are $225 and $256 at its max