Price Analysis

Ethereum vs Bitcoin: ETH Recovers Sluggishly as Compared to BTC

  • Bitcoin is correcting up after a plunge near $11796, meanwhile, Ethereum is yet to see any notable price recovery
  • Ethereum is still resuming a bearish momentum, hovers around $211
  • Bitcoin is in the buying phase while Ethereum is still carrying selling pressure

Ethereum lacks positive signs in its price trend at present as the coin is bearishly below $300 since quite some time now. On the other hand, Bitcoin has covered a price span between $13000 to $9400 over a month.

Bitcoin was well above $11900 when it opened yesterday. The coin surged to $11961.58, but the coin could not move above it and it saw a price fall. The coin dropped to $11666.18 with a decline of 2.47%. Here, the coin has found a decent support and BTC is steadily increasing from there.

BTC has traced a bullish trendline from 15:55 UTC to 23:35 UTC yesterday, which has broken today when the coin tumbled to $11789. The coin is currently correcting up and is at $11804 at 07:17:48 UTC.

ETH vs BTC Price Chart

Bitcoin/Ethereum Price Chart

Ethereum was above $215 till 8:21 UTC yesterday, after that the coin saw a fall from $218.33 to $207.67 with a decline of 4.88%. The coin remained range bound from $207 to $211 till today morning. Today , ETH could surge as high as $214.53 and then corrected down.

At 07:17:48 UTC, Ethereum was trading at $211 noting a price decrease of 4.48% over a day.

Conclusion:

Bitcoin may face resistance at $11,985.68 and support at $11,587.01. While ETH can see further resistance at $218.48 and support at $205.37.

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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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