Price Analysis

Bitcoin & Ethereum Approaching $40K and $3K respectively, What Traders Need to do Now?

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Apr 28, 2022

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Highlights

    After a long brawl, Bitcoin and Ethereum are an inch close to smash the $40,000 and $3000 levels respectively

    On the other hand, as the weekend is approaching, will the crypto space witness another turbulance or flip above the bearish trend is the important things to track

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)

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  • 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)

ethprice
  • 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

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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