Sahana Vibhute
The post Bitcoin & Ethereum Approaching $40K and $3K respectively, What Traders Need to do Now? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide
Bitcoin prices are no less than a hot pancake nowadays as it quickly gets sold off as it reaches the crucial $40,000 level. However, Ethereum showcased a little diverse trend for some time but eventually follows the star crypto. Currently, the top 2 crypto assets are approaching their respective zones and this may be deeply impacted the entire crypto space.
Bitcoin(BTC)
- Bitcoin after sliding down during the first few days of April maintained its trend within the descending parallel channel
- Interestingly, the price is hovering along with the middle ranges with an accumulated buying volume and hence the BTC price may hit $40,000 before the day’s end or in the first few hours of the next day’s trade
- The RSI is extremely bullish and hence a significant uptrend may continue for some more time but slowly yet steadily
- However, like each time, huge possibilities of the price sliding down facing a rejection may be still in place
Ethereum(ETH)
- The Ethereum price had a bullish weekly start as it had achieved the $3000 mark after ranging high by more than 7%
- However, after holding for a couple of hours, the price quickly dropped to its initial levels and ignited a significant ascending trend
- The ETH price witnessed a rejection from $2950 levels and after a slight retest, it may be primed for a huge rebound to reach $3000
- Yet the second-largest crypto may lag some momentum and hence reaching these levels could be delayed a bit but may not face a steep rejection similar to Bitcoin (BTC) price
