Bitcoin and Ethereum expected to make x2 by this time!
The new year has been good to cryptocurrencies. Bitcoin and Ethereum have been going up and the rise still continues.
Cryptocurrencies have reached record levels in recent years. With the sudden decline that followed, serious losses were experienced, but with the new year, the crypto markets started to move. If the potential resistance points are exceeded, there may be serious increases in the crypto money community. Looks like this will be the case for Bitcoin and Ethereum.
Bitcoin and Ethereum have been going up
Bitcoin rose by around 8% after the inflation data that came in yesterday, and experienced a rise to the level of $ 26,385. Bitcoin, which could not sustain above the $ 25,250 level, which it has tested many times but could not break, is priced at $ 24,750 below the middle band of the channel in the morning today. For Bitcoin, which still continues to support its positivity, it will be important for Bitcoin to make daily closes above the middle band of the channel, $ 24,855, in the continuation of the upward movement. Then it can be expected to retest the $25,250 and $26.385 levels that it tested yesterday.
On the downside, it can be expected to hold on to the important and first support level of $23,950. If this level is broken and sustained, then $23,170 level can be met and then $22.895 levels can be met.
Ethereum surged around 7% with the rise experienced yesterday, breaking the key resistance level of $1,720 and testing $1,780. Ethereum, which could not sustain above the $1,720 level, is finding buyers at $1,700 in the morning today.
On the upside, it can be expected to test the $1,720 level again. In case of daily closes above this level, it may bring a rise to the first $1.780 and then $1.815 levels.
On the downside, the $1638 levels and then the $1,600 levels can be expected to act as strong support. If these levels are broken, a pullback can be seen up to the $1,548 level, which is the major falling trend line.