Bitcoin and Ethereum technical analysis

Bitcoin and Ethereum have been showing some positive signs with the new year. The market has been incluenced well.

Bitcoin and Ethereum technical analysis
The markets are incluenced well

Bitcoin is priced at $ 23000 during the day, receiving rejection from the $ 23200 level that it tested on the seventh day. When the daily chart is analyzed, it can create a bullish expectation in the event of the “Golden Cross”, the situation where the 50-day moving average crosses the 200-day moving average upwards.

Bitcoin, which started to create a channel with its upward movements, seems to have tested the lower band of the channel during the day. It will be important to break the $23200 level and make daily closes above it for the upwards to continue. If this level is exceeded, a rise to $24000 and then to $25200 may be accompanied.

Bitcoin and Ethereum technical analysis

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If it fails to break the $23200 level and in case of a downward movement, $22430 and then $21520 levels can be expected to act as support.

Ethereum is priced at $ 1580 during the day, not being able to sustain above the $ 1600 level. The “Golden Cross” seen in Bitcoin can create the same expectation on the Ethereum chart. In an upward movement, $1597 level and then $1680 level can be expected to act as resistance. Exceeding these levels may support the rise up to $1790.

In the continuation of the downward movement, $1505 and then $1460 levels can be expected to act as support. If it fails to hold on to these levels, $1420, the 200-day moving average, appears as an important support level.

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