Bitcoin price recovers to $30K
Bitcoin price made a sharp rally from the $27,000 support level. Buyers have moved to the $27k level as a preferred zone for next week.
On the price chart, Bitcoin is only $400 below the volatile $30,000 level. After the recent BTC price rally, the bulls are looking for stability in the momentum.
Bitcoin’s price is $29,580, with a daily gain of 0.131%.
Bitcoin options expire today, so traders have experienced market volatility over the past few days.
On the daily price chart, Bitcoin traders face less volatility today due to options expiration.
Ethereum price rebounds
On the final trading day, Ethereum had a difficult beginning, as bears outmuscled bulls and drove prices down to $1,869. The bullish momentum has resisted negative influence, and the market is now testing resistance to the daily high of $1,936.
If the bulls manage to breach this support level, ETH will likely experience a surge and head toward the next resistance level of $2,000. If the negative motion is undeniable, the $1,869 support level will activate, and the likelihood of a fall to the $1,801 support point is high.
ETH was valued at $1,917, indicating a likely upwards trend after increasing 0.79% from the day prior. During the rebound, ETH’s market value went up by 0.94%, reaching a total of $230,792,866.
This positive ETH price trend looks set to persist, with a Money Flow Index score of 55.06. The MFI level higher than the 50 threshold suggests stronger buying pressure than selling pressure in the market.
With the uptrend picking up, the ETH price looks poised to break through resistance and close to $2,000. Traders should watch out for the next trend reversal.