Bitcoin’s current price is $16,810, and the 24-hour trading volume is $19 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 $323 billion.
The BTC/USD is facing immediate resistance at $17,000, and a bullish breakout of this level could lead BTC to $17,500. Bitcoin’s immediate support is at $16,500, and a break below this level can expose BTC to $16,320.
The 50-day moving average is keeping Bitcoin under pressure, while the RSI and MACD are in a buying zone. Let’s keep an eye on $17,000 today, as it’s likely to act as a turning point for Bitcoin.
Ethereum’s current price is $1,208, with a $5.5 billion 24-hour trading volume. In the last 24 hours, Ethereum has gained nearly 0.20%, and CoinMarketCap currently ranks second, with a live market cap of $147 billion.
On the 4-hour chart, Ethereum is struggling below $1,220, and the closing of a doji and bearish engulfing candle suggests a strong possibility of a bearish reversal.
On the downside, Ethereum’s immediate support is found at $1,180 and $1,150. A break of the $1,150 support zone could push the selling trend all the way to $1,110. On the bullish side, a cross above $1,220 can extend the buying trend until $1,280.