Bitcoin Price
Bitcoin is presently trading at around $23,000, with a 24-hour trading volume of $18 billion and a 0.50% increase in the past day. The immediate support level for Bitcoin is at $22,800, and a break below this level by the BTC/USD pair may potentially expose the price of BTC to the next support area at the $22,150 level.
In the 4-hour timeframe, Bitcoin has completed 61.8% Fibonacci retracement at the $22,800 mark and a close above this level has the potential o drive an uptrend in BTC.
On the upside, Bitcoin's immediate resistance level remains at around $23,500. However, since the BTC/USD pair has entered the oversold zone, there is a possibility that BTC may rebound and break through the resistance level at $23,500, potentially leading to a price of $24,250.
Ethereum Price
The current live price of Ethereum stands just below $1,600, and on the technical front, the ETH/USD pair is currently facing a significant resistance level at $1,620, which is reinforced by the 50-day EMA. If the pair closes below this level, it may trigger a selling trend in ETH.
Ethereum's price is currently trading below its immediate support level of $1,570. When this level is broken, the next support for Ethereum is at $1,515. On the other hand, if the Ethereum price breaks through the $1,625 resistance level, it may rise to the $1,674 level.
The $1,740 level represents the next significant barrier to price growth above this point.
