Bitcoin’s current price is $16,727, and the 24-hour trading volume is $12 billion. The BTC/USD pair has gained nearly 0.15% in the last 24 hours, while CoinMarketCap currently ranks first with a live market cap of $321 billion.
The BTC/USD is expected to find initial support near $16,560 on Monday. BTC prices could surge to the 23.6% Fibonacci retracement level of $17,000 with the RSI and MACD in the oversold zone.
The 38.2% Fibonacci retracement level and the 50-day simple moving average at $17,250 will act as new resistance for the BTC/USD pair going forward. If Bitcoin prices fall below $16,570, the $16,150 support level may become vulnerable.
Ethereum’s current price is $1,181, with a $3.9 billion 24-hour trading volume. In the last 24 hours, Ethereum has gained nearly 4%, and CoinMarketCap currently ranks second, with a live market cap of $161 billion.
On the 4-hour chart, Ethereum is trading choppy maintaining a narrow range of $1,150 to $1,200. Since, the 50-day moving average is extending resistance at the $1,240 level, and the RSI is holding in a selling zone, Ethereum has the potential to drop below $1,150.
On the lower side, ETH’s next support is likely to be found at around the $1,115 or $1,080 level.
Alternatively, an above $1,200 may expose ETH to the $1,235 level.
Compiled by Coinbold