Bitcoin and Ethereum technical analysis

The leading cryptocurrency Bitcoin continues to rise. Bitcoin, which has been priced in the $28,000 band for about a month, but has broken this region upwards since the beginning of this week, once again saw a 10-month high and rose to $ 30,900. Thus, the 4-day increase reached up to 10%. In general, the 1-month rise of Bitcoin, which continued to be positively affected by the liquidity injected into the system after the banking crisis in the USA, reached 55%. In addition, both producer and consumer inflation figures announced in the USA also help Bitcoin maintain its positive mood.

Bitcoin and Ethereum at the end of the week

For Bitcoin, which continues its movement in the channel and reaches the upper band of the channel, the next target in the short term is $ 31,430, while the psychological level is $ 30,000 and then $ 29,500, which corresponds to the middle band of the channel.

Priced in the $1,900 region before the Shapella update, Ethereum attracts great attention after the update. After the 2-day rise of Ethereum, which went above the $2,100 levels for the first time since May 2022, reached 15%, its weight in the market began to increase. With the increase in Ethereum dominance in recent days, the ETH/BTC parity started to recover and reacted from an important support level and rose to a 1-month high. If the strong movement in Ethereum continues, 0.07 and then 0.072 levels can be seen in the parity. If the parity rises in favor of Ethereum, a significant amount of resource inflows may occur in the altcoins that have remained somewhat in the last rise. In the opposite scenario, where the risk appetite decreases, the parity may regress to the 0.065 and 0.06 regions.