Price Analysis

ETH and BTC Price look for a breakout moment, will it happen anytime soon?

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Following a few days of consolidation around $46,000, bitcoin has slipped below $45,000. Although it quickly rebounded to $46,000 and even challenged $47,000 a day later, it was unable to maintain its gains. 

Any further positive advance, however, will very certainly be met with resistance at $50,000, $52,000, and $54,000. Bitcoin’s price is currently hovering around $45.7k, up 0.38% in the last 24 hours.

Ethereum Price

Previously, Ethereum was at the apex of an ascending triangle, and a significant breakout was expected. However, the price dropped from $3500 to around $3160. As a result, many people assumed the bears had taken over. Although $ETH is above the previous big barrier and beyond the cloud as long as it is above $3,000. Which means that a price of $ETH above $3000.

Ethereum is currently moving upward, with the $3,350 resistance preventing additional gains. ETH/USD consolidated below the resistance after reaching below $4,000 in early September. Following that, on Tuesday, there was a sharp decline of more than 20%. At the time of writing ETH was trading at $3314.6.

If the price breaks through the local resistance, we can anticipate a push to $3682 and then a move. Price must stay above the $3283 – $3385 solid support zone. 

On Friday, $ETH failed to hold over $3,320, according to Justin Bennett. And unless the market closes over $3,320 today, he believes the next critical support region is $3,000, according to him.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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