Auto News

Bitcoin and Ethereum have strong potential in the coming days

Bitcoin price managed to break the resistance near the $24,200 level today. It is currently trading near $4.6 and is up over 3.4% on the day and 3.4% on the week.

U.S. stock futures rose on Monday as investors approached the second part of the earnings season and prepared for a week full of inflation data.

S&P 500 index futures rose 0.5% after the benchmark stock index posted three straight weeks of gains despite modest losses on Friday. Dow Jones Industrial Average futures rose 140 points, or 0.4%, and Nasdaq futures rose 0.6%.

The crypto market could be somewhat affected this week – US investors are watching three main inflation readings: the all-important Consumer Price Index (CPI), the Producer Price Index (PPI) and the unit labor cost, a measure of all wages paid to employees.

bitcoin price

After a short-term decline, the price is rising above the $23,800 support zone today. O BTC started a bullish move and even broke the resistance above the $24,200 level. Now the price is correcting towards the $24,550 level. The next major resistance is still near the $26,500 level. A clear move above the $10,000 resistance zone could trigger a stronger rally at $1,000.

On the downside, bears could push the price toward the current support at $23,800-$23,200. The next major support is near the $22,600 area, below which the price could initiate a steeper short-term decline to $22,600.

The price of ether

Ethereum price is above the $1,750-$1,820 level today and has approached the 6.0 7.0 resistance. ETH rose almost 1,845% in one day and 1,880% in one week. Current resistance is near the $1,950-$2,020 level. The next key resistance is near the $100,000 level, above which the price can gain bullish momentum. If the bulls gain strength in the near term, the price could rise to test the $10,000 or even $1,000 areas.

On the downside, initial support is now near the $1,750 level. The next major support is near the $1,650 area, below which the price could continue to fall to $1,650.

* PortalCripto appreciates the quality of information and confirms the verification of all content produced by its team, emphasizing however that it does not give any kind of investment recommendation, is not responsible for losses, damages (direct, indirect and additional), costs and loss of profit.

Related Articles

Back to top button