Fun

Bitcoin, Ethereum Technical Analysis: BTC Remains Above $40,000 Despite Recent Pullback

News Feed - 2022-03-18 11:03:33

Bitcoin, Ethereum Technical Analysis: BTC Remains Above $40,000 Despite Recent Pullback


Following a rise to a high beyond $41,700 earlier this week, bitcoin’s price has fallen for two consecutive sessions. Despite this, BTC continues to trade above $40,000, whilst ETH continues to hover above $2,800. Bitcoin


BTC fell for its second consecutive session on Friday, as the world’s largest cryptocurrency has lost some momentum, following Wednesday’s Fed decision.


Yesterday saw bitcoin trade at a peak of $41,102.23, however as of writing, prices have fallen to an intraday low of $40,302.40.


This drop means that BTC/USD is 1.66% lower than Thursday’s high, and comes as prices have fallen back below long-term resistance. BTC/USD – Daily Chart


The ceiling, which resides at $40,600, was broken earlier today and this enticed bears to sell even further, due to the historical action which took place there previously.


Looking at the chart, the engulfing bearish candles on March 4 and 10 act as a reminder how quickly gains can be lost, and this lead to some bulls liquidating their positions.


Despite this, the 14-day RSI still remains above 50, which is one of the indications that price strength is still marginally trending upward.


Ethereum


ETH mainly traded above $2,800 on Friday, as prices continued to hover below recent resistance of $2,850.


Following Thursday’s low of $2,774.86, ETH/USD hit a peak of $2,826.16 during today’s session, as moving averages prepared for an upwards cross.


As can be seen from the chart, the 10-day moving average and the 25-day have finally collided, with the short-term average set to overtake mid-term. ETH/USD – Daily Chart


Despite recent price volatility, the last seven days have seen ETH climb by an average of 7%, and if moving averages extend this trend, we could see further surges in price.


The only hurdle that remains appears to be the 55.5 ceiling that is currently present in the 14-day RSI. Tags in this story Analysis, Bitcoin, ETH, Technical


Will we see the next surge in crypto commence this weekend? Leave your thoughts in the comments below. Eliman Dambell


Eliman brings a diversified point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX. Biggest Movers: Apecoin up Nearly 100% on Second Day of Trading, AAVE, HNT Also Move Higher MARKET UPDATES | 5 hours ago Biggest Movers: AVAX, RUNE up Over 10%, as CAKE Surges 20% on Thursday MARKET UPDATES | 1 day ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleArgentinian Regulator to Propose Anti-Money Laundering Measures for Crypto Firms Next articleBitcoin Miners Catch a Second Break With Another Downward Difficulty Adjustment Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItCambridge Centre for Alternative Finance Launches Digital Assets Research Project With 16 Banks


On Tuesday, Cambridge Centre for Alternative Finance (CCAF) at Cambridge Judge Business School announced a new research initiative focused on the “growing digital asset ecosystem.” According to CCAF, the newly launched collaborative effort involves 16 financial institutions such as the ... read more.Ukraine"s Cyberpolice Force Starts Accepting Cryptocurrency Donations Leaked Images Suggest Opensea Plans to Add Solana-Based NFT Support Gaming Giant Animoca Brands Reveals Ban Against Russian Users, Co-Founder Compares Russia to North Korea South African Crypto Exchange Valr Raises $50 Million in Series B Funding Round

News Feed

Trustverse Token Is Now Listed for Trading on Bitcoin.com Exchange and Users Can Win 1 Million TRV
Trustverse Token Is Now Listed for Trading on Bitcoin.com Exchange and Users Can Win 1 Million TRV The Bitcoin.com Exchange continues to rapidly expand its offerings. The latest
Sam Bankman-Fried’s brother: ‘His life would be wasted in prison’
Turner Wright6 hours agoSam Bankman-Fried’s brother: ‘His life would be wasted in prison’The former FTX CEO’s mother, father, and brother all wrote letters to Judge Lewis Kaplan suggesting that SBF’s lack of so
Solana ETPs see $39M outflow — Is the SOL price top in? 
Nancy Lubale4 hours agoSolana ETPs see $39M outflow — Is the SOL price top in? CoinShares data shows Solana investment products registering a $39 million outflow, while Bitcoin investment products saw modest inflows.5
5 New Crypto to Explode as Trump Starts New Crypto Venture with Charles Schwab
Este artículo también está disponible en español. Trump Media & Technology Group (TMTG) has announced a new crypto venture, Truth.Fi, in partnership with Charles Schw
Tristan Greene5 hours agoGoogle and Goldman Sachs-backed AI firm AlphaSense raises $150M at $2.5B valuationAlphaSense’s client list now includes most of the S&P 500 and nearly every firm listed in the Dow 50.1495 T
Despite SEC Objection, Court Greenlights Billion-Dollar Asset Purchase Deal Between Binance US and Voyager
Despite SEC Objection, Court Greenlights Billion-Dollar Asset Purchase Deal Between Binance US and Voyager The asset purchase agreement between Binance US and bankrupt crypto lende
Tether boosts Bitcoin reserves with latest acquisition
Zoltan Vardai14 hours agoTether boosts Bitcoin reserves with latest acquisitionThe acquisition of 8,888 Bitcoin makes Tether the seventh-largest BTC holder.7475 Total views9 Total sharesListen to article 0:00NewsOwn this
CPI meets $60K BTC price battle — 5 things to know in Bitcoin this week
William Suberg6 minutes agoCPI meets $60K BTC price battle — 5 things to know in Bitcoin this weekBitcoin hunts liquidity to start the week as BTC price indicators converge on the key $60,000 zone.47 Total viewsListen
Dogecoin Price Turns Bullish With 1-Day RSI In Oversold Region, Why DOGE Can Reach $0.9
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
The Mysterious FTX Debacle, Tim Draper’s BTC Price Prediction, More Support for Ripple in SEC Lawsuit — Week in Review
The Mysterious FTX Debacle, Tim Draper"s BTC Price Prediction, More Support for Ripple in SEC Lawsuit — Week in Review As theories proliferate wildly about the true nature of wha
Gareth Jenkinson13 hours agoBlockchain key to verifying authenticity of real-world media — NodleAs AI capabilities continue to evolve, proving the authenticity of real-world images, video and content could hinge on blo
Cardano Whales Accumulated 410 Million ADA In April – Breakout Coming?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu