Cryptocurrency

FattyBull
2022-10-19

Bitcoin Price

The leading cryptocurrency, Bitcoin, is consolidating near the $19,500 level, with a trading volume of $27 billion in 24 hours.

Bitcoin has increased by 2% in the last 24 hours. CoinMarketCap currently ranks first, with a live market cap of $375 billion.

Bitcoin found early support near $19,440 and has since rebounded to trade near $19,600. The BTC/USD pair has also surpassed the 50-day moving average, signaling a bullish trend.

A break below $19,440 might send BTC to the previous triple bottom support near $19,200, while another breach could send BTC to $18,900.

On the upside, resistance is still located near $19,650. If the price exceeds $19,650, investors will likely consider buying until $19,950.

Ethereum Price

The current price of Ethereum is $1,333, with a 24-hour trading volume of $9.5 billion. In the last 24 hours, Ethereum has surged over 2%. CoinMarketCap now ranks #2, with a live market cap of $163 billion.

The ETH/USD pair is currently trading at a critical resistance level of $1,340, which is backed up by a triple-top pattern. The 50-day moving average supports a bullish trend while extending support near the $1,295 level.

Above this, ETH is likely to show a bullish trend, but the downward trendline near $1,340 will act as a barrier.

A break of the $1,300 support level could expose ETH to the $1,293 or $1,270 support levels. Because the RSI and MACD indicate a buying trend, investors are likely to trade bullish upon a breakout of $1,340.

Trade safely

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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