Crypto Hotshots 2022 🔥♨️

Twitter Instagram Facebook Facebook Linkedin Youtube Spotify Medium Reddit Tik-tok Telegram
Voice of Crypto
  • VOC Explained
  • News
  • Analysis
  • Bitcoin
  • Altcoin
  • Press Release
    • Sponsored
    • Global Crypto Events
  • Services
    • Content Marketing Services
    • Crypto Influencer Marketing
    • Advertise With Us
  • Know Us
    • About Us
    • VOC Team
    • VOC Vigilantes
    • Brands Who Trust Us
    • Contact Us
Reading: Here’s What Technicals Are Saying about Bitcoin and Ethereum
Share
  • bitcoinBitcoin(BTC)$28,203.00
  • ethereumEthereum(ETH)$1,785.53
  • tetherTether(USDT)$1.00
  • binancecoinBNB(BNB)$338.16
  • usd-coinUSD Coin(USDC)$1.00
  • rippleXRP(XRP)$0.383502
  • cardanoCardano(ADA)$0.344993
  • matic-networkPolygon(MATIC)$1.16
  • staked-etherLido Staked Ether(STETH)$1,781.67
  • dogecoinDogecoin(DOGE)$0.074506
  • Events
  • Videos
  • Podcast
Voice of CryptoVoice of Crypto
Aa
  • VOC Explained
  • News
  • Analysis
  • Bitcoin
  • Altcoin
  • Press Release
  • Services
  • Know Us
Search
  • VOC Explained
  • News
  • Analysis
  • Bitcoin
  • Altcoin
  • Press Release
    • Sponsored
    • Global Crypto Events
  • Services
    • Content Marketing Services
    • Crypto Influencer Marketing
    • Advertise With Us
  • Know Us
    • About Us
    • VOC Team
    • VOC Vigilantes
    • Brands Who Trust Us
    • Contact Us
Follow US
Copyright © 2023 Voice of Crypto. All Rights Reserved
Voice of Crypto > News > Here’s What Technicals Are Saying about Bitcoin and Ethereum
News

Here’s What Technicals Are Saying about Bitcoin and Ethereum

Jim Haastrup
Last updated: 2023/03/14 at 12:41 PM
Jim Haastrup Published October 4, 2022 March 14, 2023
Share
VOC, Voice of Crypto, BTC, ETH

In September alone, several new developments have affected the price of Ethereum and Bitcoin, the two largest cryptocurrencies in the market by market capitalization.

Contents
Bitcoin Price AnalysisEthereum Price Analysis

In the tenth month of this year, we saw the negative effect the news of the FED rate hike had on general cryptocurrencies in the market.

We saw the speculation that came before the Ethereum merge and the developments that came after in terms of its price.

We also saw several upgrades on several other chains, like the Vasil upgrade on the Cardano network and the integration of the new Robinhood Wallet with the Polygon network.

Now, lets focus on the two largest cryptos in the market in terms of performance and how they have done so far from a technical perspective.

Bitcoin Price Analysis

The muddy waters that bitcoin had to wade through didn’t start in September alone. After the massive selloff in early June of this year, it is safe to say that the price of bitcoin has been in consolidation ever since, regardless of the minor corrections it has experienced over the last two months.

Chart of Bitcoin showing massive price drop from $30,000 resistance and consolidation after 
Chart of Bitcoin showing massive price drop from $30,000 resistance and consolidation after | Source: Tradingview

In recent view, however, bitcoin is currently trading between the significant bearish channel and the $18,000 support.

Chart of Bitcoin showing major bearish channel
Chart of Bitcoin showing major bearish channel | Source: Tradingview

A rebound from this level would send the bitcoin price right upwards to retest the 50 and 100-period moving averages and the $21,000 level, where the upper resistance of the major bearish channel is.

Chart showing possible price retest of the $18,000 line and a breakdown or a bounce
Chart showing possible price retest of the $18,000 line and a breakdown or a bounce | Source: Tradingview

At the time of writing, the RSI on the 4-hour chart above also shows a crossover, indicating that the bitcoin price is likely to retest the $18,200 level again before a bounce or a breakdown of this level.

Ethereum Price Analysis

Ethereum has failed to break the $1400 resistance in the last seven days. The bears appear strong around this level, pushing back against the bulls after each attempt.

Chart showing bearish resistance against the bulls around the $1,400 zone 
Chart showing bearish resistance against the bulls around the $1,400 zone | Source: Tradingview

Ethereum in the charts at present lacks momentum. The price of the cryptocurrency seems stuck between the range around the $1.400 and $1200 levels.

The Ethereum bulls appear exhausted and may need a boost to push back against the bears. Intra-day volatility on the ETH/USDT pair seems high enough, but the price action over the last ten days shows compression, suggesting that either the bulls or bears are planning another strike against the other. Depending on which side wins, we may see a breakout of either the $1400 level or the $1250 level.

 

Disclaimer: The author’s comments and recommendations are solely for educational and informative purposes. They do not represent any financial or investment advice. Always DYOR  (do your own research)

You Might Also Like

SVB Collapse Stalls NFT Market Growth

Bitcoin Price Shows Phenomenal Recovery: Is This Just the Beginning?

US Government Moves 40,000 BTC

Why Bitcoin Price is Primed For Wild Swings

Silver Lining for Crypto After SVB Collapse

TAGGED: Bitcoin, Ethereum
Share this Article
Facebook Twitter Email Copy Link Print
Previous Article VOC, Voice of Crypto, ETH Why Is Ethereum (ETH) Poised to Tap $2K in the Next Few Days?
Next Article VOC, Voice of Crypto, Celsius Celsius CEO Becomes the Latest Crypto Execs to Step down amid Sluggish Market
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Binance

Follow US

Find US on Socials
Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Subscribe to our Newsletter

Get Newest Articles Instantly!

Ledger
Popular News
Web3 Shorthand
Web3 Shorthand: A Glossary for Crypto Newbies
Technically Looking at Web3
Technically Looking at Web3, Blockchain and Crypto with Tara
Quick-Tips-To-Avoiding-A-Fake-Crypto-Wallet
Quick Tips To Avoiding A Fake Crypto Wallet

Follow Us on Socials

We use social media to react to breaking news, update supporters and share information

Twitter Instagram Facebook Facebook Linkedin Youtube Spotify Medium Reddit Tik-tok Telegram
Voice of Crypto

Voice Of Crypto hits a beat with almost 15 million users, churning out the best news and content in the Web3, crypto and blockchain space

Subscribe to our newsletter

You can be the first to find out the latest news and tips about trading, markets...

  • Advertise With Us
  • About Us
  • Privacy Policy

Copyright © 2023 Voice of Crypto. All Rights Reserved

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?