Bitcoin and Ethereum price prediction: The BTC and ETH markets continue to move in a sideways direction, creating uncertainty in the crypto market. The market’s downtrend will be resuming soon, however, this is evident by the continued consolidation of these coins. At 7:58 EST Friday, the global crypto market was at $836.78 Billion. This is 1.22 % lower than it was on Friday.
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Brian Bollinger Bitcoin, Ethereum price prediction. The BTC and ETH markets continue to follow a sideways path that creates uncertainty in the crypto market. The market’s continued consolidation in these coins suggests that there will be a brief pause before it resumes its downtrend. The global crypto market stood at $836.78 billion at 7:58 am EST Friday, down 1.22 % from yesterday.advertisementNevertheless, the total crypto market volume has decreased by 10.5% over the last 24 hours to $50.06 Billion. The total volume in DeFi currently stands at $2.54 billion, which is 5.08% of the 24-hour crypto market volume. Top Gainers and losersSource-Coin360Chiliz (CHZ) rose 9.96% to $0.249, while the Stacks(STX) soared 9.35% up to $0.25. GateToken (CHZ) and Synthetix are the top losers. The GT price dropped 2.62%, to $3.6, while Synthetix’s SNX price plummeted 2.21%, currently trading at $1.73. Trending StoriesBitcoin price Source- CoinmarketcapThe Bitcoin market fell after last week’s crypto market turmoil. This consolidation is due to the formation of an inverted pennant trend. The core concept for this pattern is to offer a break period(consolidation) before the sellers resume the prevailing downtrend.The Bitcoin price currently trades at the $16766.2 mark and continues to resonate with two converging trendlines.Source- TradingviewAs per the technical setup, a breakdown below the lower support trendline will signal the replenished selling momentum, which could drop the prices by $15825.On a contrary note, a breakout above the overhead trendline will invalidate the bearish theory.Ethereum price Source- CoinmarketcapThe Ethereum price shows the formation of a descending triangle pattern in the four-time frame chart. The chart shows a lower, more bullish formation. This could lead to a neckline breakdown at $1190-$1180. Thus, a 4-hour candle closing below mentioned support would accelerate the selling momentum.Source-TradingviewThe post-breakdown fall would tumble the precis 8% down to rechallenge the $1000 support.advertisementConversely, a breakout from the pattern’s resistance trendline will offset the bearish thesis.Share this article on:About author
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The content presented may contain the author’s personal opinion and may not reflect current market conditions. Before investing in cryptocurrency, do your market research. Close Story