Price Analysis

Ethereum vs Bitcoin: ETH and BTC Start to Recover the Price Loss on a Weak Note

  • BTC and ETH, both are correcting up from lows
  • The overall picture for Bitcoin and Ethereum is a bit bearish
  • Bitcoin is significantly below $10,000 and is even struggling to remain above $9500
  • Ethereum is correcting up from $205, both the coins are rebounding on a weak note

In the last 24 hours, Bitcoin and Ethereum both have traced a bearish price path against U.S.Dollar. However, at present, the coin has recently started to rebound.

Bitcoin had its opening price at $9,548.18 yesterday morning. And it surged to $9701.06 and gradually pulled back to the price range near $9400. The coin again took a surge above $9500 and then dropped sharply to $9391.59. Here the coin has found a support level and has rebounded to $9594.28. After a downward correction, BTC price has been ranging around $9400 to $9500.

Recently, Bitcoin has seen a support level at $9402.34 and is correcting up from there at $9512.01 at 06:53:39 UTC.

ETH vs BTC Price Chart

Bitcoin/Ethereum Price ChartEthereum has also formed a bearish trendline after it corrected down from $214.68. Resonating with BTC price trend, Ethereum also had a sharp price fall in the highlighted area of the above chart. Here, it saw support at $206.51 and sharply rebounded to $211.16. After having one more surge above $212, Ethereum has gradually dropped to $205 today. The coin is moving upwards from there now at $208.33 at 06:53:39 UTC. 

 

Conclusion:

ETH may see resistance at $213.88 and $216.49 and support level at $206.15 and $203.54, while Bitcoin is likely to face resistance at $9,642.88 and support at $9,349.22.

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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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