Bitcoin price rallied above the $21.500 resistance zone yesterday and today is correcting lower. It is currently trading near $20.300 and is down -6% in one day and -9.6% in one week. Likewise, most of the major altcoins are down today.
In this article, we will discuss:
Bitcoin price
With Bitcoin’s recent close above the $20.500 resistance. The next major resistance could be at $20.800. The second resistance is near the $22.200 price zone in the short term. The main resistance is now at $23.000 where the bears can get in on the action.
On the downside, an initial support is near the $20.000 level. The next major support is near the $19.500 zone, below which the price could drop further.
Ethereum Price
O ethereum price yesterday it was able to rally above the $1.100 level and break above the $1.150 level before correcting now downwards. Bulls need to take ETH above the $1.150 level so the price can accelerate further. The next resistance is near the $1.200 level, above which the price can move up to the $1.250 level.
On the downside, the bears could see the price drop near $1.020. The next major support is near the $1.000 level, below which the bears can build up selling pressure.