12.6 C
May 22, 2024
BTC Hunts
Image default

Here’s What Next For Bitcoin & Ethereum Price This Week – Expert Reveals Critical Price Levels

The post Here’s What Next For Bitcoin & Ethereum Price This Week – Expert Reveals Critical Price Levels appeared first on Coinpedia Fintech News

Crypto enthusiasts are eagerly watching Ethereum (ETH) and Bitcoin (BTC) as a top analyst, Justin Bennett, shares valuable insights on their current status. 

Ethereum at $1,890 next week?

According to Bennett in his recent tweet, Ethereum is at a critical point of around $1,835. This level controls ETH’s next move. Will it rise above $1,890 next week? Will they resist? Ethereum is currently valued at $1,831, below Bennett’s important threshold. However, breaking above $1,835 might push Ethereum to $1,890 in the coming week, while resistance could spell a struggle. 

Ethereum’s price is currently at $1,831, close to this critical level.

Bitcoin Price Analysis

In relation to this, Bennett highlights the importance of Bitcoin’s performance in today’s close in his recent Daily Price Action newsletter. It’s all getting heated as Bulls are striving to reclaim the $26,500-$26,700 range and the daily close will provide crucial insights into the market’s direction. The crypto community eagerly awaits the outcome.

Notably, Bitcoin’s recent close below $26,500 which happened first time since mid-march, a support level held for months, has raised concerns. Currently, BTC is testing this level as resistance, with bulls aiming for a close above it. If successful, the $26,500-$26,700 range may regain its status as support. However, if BTC fails to reclaim this range, a potential decline towards $25,000 is projected by the analyst. 

The trajectory of Bitcoin, if it tests the support level, depends on how the market responds to the channel support and the $25,200 horizontal level. Bennett advises against ruling out a reclaim this week, considering the market’s indecisiveness in recent times. A daily close above $26,500 and $26,700 would confirm a false breakdown and pave the way for $27,600, with a potential liquidation cluster at $27,800.

Related posts

Bitcoin and Ethereum’s Q1 Open Interest Indicate Bullish Sentiments – Where BTC & ETH Price Heading Next?

Leslie Kim

Solana Faces Resistance Above $20! Will SOL Price Initiate A Fresh Decline?

Leslie Kim

Polkadot (DOT) Moves Ahead Of Ethereum and Cardano- Here’s How!

Leslie Kim