Bitcoin and Ethereum showing positive signs
Leading cryptocurrency bitcoin rises with the impact of the new year. Here is a technical analysis.
Bitcoin continued its upward movement on the 11th day of the new year. Bitcoin, rose to $ 18,300 but dropped down to $ 18,150 during the day. The daily close above $17,880 maintains its positive outlook. In the continuation of the upward movement, the first resistance level is $18,385. If this level is exceeded and persisted, it may bring the rise to $ 18,900 levels. Then $19,300 levels can be tested.
Bitcoin and Ethereum showing positive signs
On the downside, the $18.020 level can be expected to act as support. If it fails to hold the $18,000 levels, a pullback can be seen to the $17,500 levels.
Ethereum is priced at $1400 as of the day, after rising by around 20% on the 12th day. A close above the 200-day moving average and a daily close above the $1320 resistance level continues to support the positive outlook. In the continuation of the upward movement, the $1460 level appears as a critical resistance. If this level is exceeded and daily closes are made above it, it can support a rise up to $1520 levels.
If it fails to sustain above the $1390 level, it may cause it to test the $1325 levels in the downside movement. If it cannot hold above $1325, it may bring a pullback to $1280 levels.
