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.
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