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Bitcoin and Ethereum: Price Swings can be Noticed

  • The price of Bitcoin continues to hover around the $20,000 level.
  • The price of Ethereum managed to climb up to the $1600 level.
  • The United States Federal Bureau of Investigation has released a statement about an exploit that attackers recently used to steal cryptocurrencies from investors by putting money into decentralized financial platforms.

Bitcoin chart analysis

The price of Bitcoin continues to hover around the $20,000 level. It has been moving for three days in the $19,500-$20,500 range. Today’s movement is above $20000, and today’s maximum is at the $20500 level. We have support in the MA20 and MA50 moving averages, and they will be able to push the price towards the $21000 level today. Additional resistance in that zone is in the MA200 moving average, and a break above it would certainly facilitate further recovery. We need a negative consolidation and a price drop below the $20,000 level for a bearish option. After that, we would retest the three-day support level at $19,500. A price break below would increase the bearish pressure, and the price could drop to the $19,000 level.

Bitcoin chart analysis

Ethereum chart analysis

The price of Ethereum managed to climb up to the $1600 level. But for now, we have resistance at that level. More positively, the moving averages are on the bullish side, and little is needed for the price to break above. We must climb above and continue the recovery with further bullish consolidation for a bullish option. Potential higher targets are $1650 and $1700 levels. We need a negative consolidation and a break below the moving averages and the $1550 level for a bearish option. After that, the price would probably drop on support at the $1500 level. This week’s low was at the $1420 level.

Ethereum chart analysis

Market Overview

The United States Federal Bureau of Investigation has released a statement about an exploit that attackers recently used to steal cryptocurrencies from investors by putting money into decentralized financial platforms. The FBI also advised crypto investors to do their own research and confirm that independent parties have audited selected decentralized financial platforms. The FBI has spotted three recent hacks through which attackers managed to compromise these decentralized financial protocols. These attacks reportedly caused Defi platforms and their investors to lose $358 million.

BONUS VIDEO: Weekly news summary from the markets



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