Price Analysis

Bitcoin vs Ethereum: BTC Holding On Key Support, ETH Continues to Trade Bearishly

Since the last few days, Bitcoin price was on a bullish spree causing rest of the crypto market to uplift, however, the uplift has been a bit mild with Ethereum. Today the Bitcoin bull-run appears at a break as the coin now has just dipped below $10,000 and is struggling to climb beyond it.

A pause in the BTC price rally has impacted Ethereum price to quite an extent as the coin has traded below $215 and is even approaching support price near $210.

Current Statistics:

Statistics

Bitcoin (BTC)Ethereum (ETH)

Price (USD)

06:52:32 UTC

$9999.43$211.82

Market Capitalization

$178,880,747,171

$22,732,756,239

24h Volume

$16,683,980,080

$6,382,442,659

Circulating Supply

17,832,850 BTC107,013,993 ETH
Return on Investment (RoI)7,313.87%

7,401.99%

BTC/ETH Price Chart

Bitcoin/Ethereum Price Chart
Bitcoin/Ethereum Price Chart

In the last 24 hours, both the coins have traced a steady downward price trend. Bitcoin was initially trading above $10,500 yesterday, which later saw a plunge near $10,427 and then corrected up to $10,597.20. Here it saw a major price fall causing it to reach $10,180.87 with a decrease of 3.93%. 

It then corrected up above $10,300 and again dropped to $10,076.50. Recently, the coin has faced further price loss as the coin has even traded below a major psychological support level of $10,000. In the last 24 hours, BTC has decreased by 5.63%.

A similar trend is experienced by Ethereum as the coin was ranging between $224 to $227 till yesterday morning and later it saw a fall near $219.41. After an upward correction near $223.73, the coin heavily dropped at $214.82 with a decrease of 3.98% while breaking major support near $215 and $220. Having its 24-hour low price ETH further tumbled to $212.07. In the last 24 hours, ETH has decreased to 6.14%.

Conclusion:

Ethereum may see support levels at $205.88 if its price continues to drop, while, it may face resistance at $225.13 and $232.7. Bitcoin price may see resistance levels at $10,611.63 and $10,880.14 and support levels at $9,886.4 and $9,617.89.

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Ruti Vora

Ruti has recently joined CryptonewsZ as a writer and has been writing on other cryptocurrency sites as well. Having a background of tech field makes her versatile with a keen interest in literature. You will find her surrounded by books and music when she is not on work. You can also contact her on Linkedin or Facebook.
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