Price Analysis

Ethereum vs Bitcoin: BTC Settles Above $11500 After Yesterday’s Fall, ETH Seeks Stability Above $225

  • Bitcoin price has pulled back to its price range around $10600
  • Ethereum, which was anticipated to trade above $240 yesterday, took a steady price fall instead
  • Bitcoin is correcting up from $11224.19 while ETH is correcting up from $222.26

After hitting its 7-day high price point yesterday, BTC has traded downwards against U.S.Dollar. Though since today morning, a mild bullish price moves have been noticed. Ethereum price has witnessed a similar price path, however, considering the recent price rally of BTC, ETH had manifested a mild improvement in its price.

Yesterday morning price moves of both the leading crypto coins were remarkably bullish as at 10:12 UTC, Bitcoin was as high as $12309.45 and ETH was at $239.16. After a sharp price drop, Bitcoin was at $11633.15 noting a decrease of 5.49%. Bitcoin gradually tumbled further to $11224.19, before having yesterday’s closing price. Today, Bitcoin has kick-started to trade with a bit of bullish vibe as the price path has moved up.

At 05:52:17 UTC, Bitcoin is at $11596.77 which is 5.78% down from its 7-Day High price points of $12309.45.

Ethereum vs Bitcoin Price Chart 

Ethereum vs Bitcoin Price Chart 

Meanwhile, Ethereum has also nosedived from $239.16 to $227.37 with a decrease of 4.93%. The coin continued to trade downwards from there and bottomed at $222.26. Unlike Bitcoin, Ethereum is yet to come up with a notable price recovery from there as the major altcoin is at $226.79 at 05:52:17 UTC, after correcting up a bit.

Conclusion:

Bitcoin may see major resistance at $12,071.08 if it continues to recover its price, while its support level can be at $11,087.99. Ethereum, on the other hand, can face resistance at $235.58 and support level at $220.01. 

Tags

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.

Related Articles

Back to top button
Close