Price Analysis

Ethereum vs Bitcoin: BTC Surges by More than 4%, ETH Settles Above $220

  • Bitcoin price jumps again, reaches above $10,000
  • BTC traced a close near $10,177 today, currently correcting down
  • Ethereum resonates with BTC Price trend, surges within a similar time frame, though not so sharply
  • ETH is currently correcting down; hovers around $220

Bitcoin has witnessed a major bullish price move today morning as the coin has climbed above $10k from its yesterday’s closing price of $9,870.30. The price move of BTC seems to have impacted a large part of the crypto market as the total market capitalization of the crypto market has also jumped to $278,631,432,033 from $272,910,146,781.

Yesterday, Bitcoin price was much below $10,000 and had even traded below $9700. However, the coin has been tracing an uptrend since yesterday till now. The coin had found support price at $9677.44 and after a steady surge, the coin reached at $9,870.30 having its closing price. Today the coin sharply surged above $10,100 with an increase of 4.16%. BTC has now corrected down at $10072.99 at 07:02:04 UTC. Although the coin is below its 50-day SMA.

ETH vs BTC Price Chart

Bitcoin/Ethereum Price Chart

 

Ethereum, in the meantime, has struck a steady increase after dropping near $213.47. However, yesterday, the coin did not cross the price level of $220. And since the daybreak today, ETH has not moved below $220. ETH is currently trading at $220.07 and in the last 24 hours, ETH has increased to 0.20%.

Conclusion

Bitcoin may see resistance at $10,150.43 and support levels at $9,753.35. And Ethereum’s possible resistance levels can be at $221.87 and $224.11 and support levels at $211.89 and $209.65.

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Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on world's leading digital currencies. She holds graduate degree in journalism.

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