The Bitcoin price prediction is currently trading above the 9-day moving average after the first digital asset recovers from $41,000.
The Ethereum price prediction may likely face a crucial support level which could take the second digital asset to the downside.
The Bitcoin Cash price prediction upsurge astounds the intraday traders as the coin indicates a bit of the immediate resistance level.
BTC/USD Long-term Trend: Ranging (Daily Chart)
Resistance Levels: $46,000, $48,000, $50,000
Support Levels: $38,000, $36,000, $34,000
BTC/USD is currently holding above the $42,000 level as the coin prepares for another push higher. Looking at the daily chart, the Bitcoin price is now attempting to maintain the bullish movement towards the upper boundary of the channel but may struggle to gain momentum as the entire market’s uptrend stalls.
Bitcoin Price Prediction: Bitcoin Price May Create More Upsides
The Bitcoin price is currently trading at $42,142 with a gain of 1.54% on the day. The trading is likely to cross above the 21-day moving average as the technical indicator Relative Strength Index (14) prepares to cross above the 50-level. The bulls must reclaim this barrier as this would allow them to focus on higher levels towards $45,000. On the other side, any declines below the 9-day moving average could easily open the way to the south.
Looking at the daily chart, Bitcoin (BTC) is likely to regain ground by moving the market price to the next level. Moreover, any bullish movement towards the upper boundary of the channel may push the price to the resistance level of $46,000, $48,000, and $50,000, while the supports could be located at $38,000, $36,000, and $34,000 respectively.
BTC/USD Medium-Term Trend: Ranging (4H Chart)
Looking at the 4-hour chart, the Bitcoin price remains above the 9-day and 21-day moving averages as the coin faces the upside. However, if the price continues to rise further and crosses above the upper boundary of the channel, it could reach the nearest resistance levels at $44,000, $46,000, and $48,000 respectively.
Moreover, if the bears bring the coin below the 9-day and 21-day moving averages; it may likely hit the closest supports at $40,000, $38,000, and $36,000. Presently, the technical indicator Relative Strength Index (14) is likely to cross below the 60-level for the coin to retreat a little bit.
Resistance levels: $3600, $3800, $4000
Support levels: $2600, $2400, $2200
At the time of writing, ETH/USD is trading down by 0.79% at its current price of $3077, which marks a slight decline from its daily high of $3169 that was set today. However, in the past few days, ETH/USD has been able to find some support in the lower $2880 level, as it is likely to cross below the 9-day moving average.
Ethereum Price Prediction: Ethereum Price May Consolidate
The Ethereum price is currently facing the downside as many traders were expecting the coin to resume uptrends but the 9-day moving average is still below the 21-day moving average. Although, the Ethereum price is currently hovering above the 9-day moving average changing hands at $3077 which is yet to break towards the upper boundary of the channel.
Moreover, a bearish drop may continue to roll the market down to the support level of $2600, $2400, and $2200 while a possible bullish surge may drive the market towards the upside to hit the nearest resistance at $3500 as the $3600, $3800, and $400 may further provide resistance levels for the market. Meanwhile, the Relative Strength Index (14) is still below 50-level, crossing above this level may cause the coin to revisit the $3200 resistance level.
Against Bitcoin, the Ethereum price is currently moving sideways as the bulls couldn’t push the price above the 9-day and 21-day moving averages. However, if the market drops and faces the lower boundary of the channel, the next key supports may come at 6700 SAT and below.
However, on the upside, any bullish movement above the channel may push the market towards the resistance level of 8200 SAT and above. On the contrary, the technical indicator Relative Strength Index (14) is moving to cross below the 40-level, suggesting that the market may begin to follow the bearish movement.
Resistance levels: $400, $420, $440
Support levels: $280, $260, $240
BCH/USD is moving sideways as the coin could rise towards $350. Following the recent price drop, Bitcoin Cash is currently trading within the 9-day and 21-day moving averages. However, a break above the 21-day moving average may likely produce a huge green candle to the upside, and this may cause the Bitcoin Cash to reach the resistance levels at $400, $420, and $440 levels.
Bitcoin Cash Price Prediction: Bitcoin Cash Price May Jump to the North
The Bitcoin Cash price seems to follow the same direction; it has been showing an uneven movement with several rises and falls. BCH/USD has not been able to maintain a consistent bullish run as the Relative Strength Index (14) moves above 50-level, a precise bullish cross might reveal more buy signals for the market, and it may continue to show signs of an upward movement in the market soon.
On the contrary, a bearish step back is likely to roll the market back below the 9-day moving average with a possible break down to the support levels of $280, $260, and $240 which could establish a new low for the market. More so, the trading volume is rising slowly as this is giving a sign of an upcoming big move.
When compared with Bitcoin, the BCH bears are showing a strong commitment to bringing the market price back below the 9-day and 21-day moving averages. Following the recent negative sign, the Bitcoin Cash price may go down if the sellers put more pressure on the market further.
However, as the Relative Strength Index (14) is moving above 50-level, should the buyers hold the current price of 819 SAT, the Bitcoin Cash price may continue with the upward movement and possibly cross the upper boundary of the channel to touch the resistance level of 930 SAT and above but sliding below the moving averages could lower the price to the support level of 700 SAT and below.