• Sat. Jul 20th, 2024

Bitcoin (BTC) May Hit High of $48,369.89 and Ethereum (ETH) May Hit High of $3,440.42

Feb 26, 2022

It was almost 24-hours back when the price of Bitcoin (BTC) was experiencing a low price of $34,472.73 per BTC. However, the investors fought against the bears with a lot of strength in order to push Bitcoin over the $35k per BTC benchmark.

According to stats, the investors formed a 6.02% rally in the past 24-hours in order to bring BTC back to a higher figure. At present, the unit price of Bitcoin is $38,679.58, and from the looks of it, Bitcoin may continue observing growth in value.

It is a piece of good news for the investors that Bitcoin’s valuation has also increased and it is currently over $734 billion. Although Bitcoin is still not back to its old glory, the surge in value and capitalization is a good signal for Bitcoin supporters.

The 24-h trading volume for Bitcoin currently stands at $30,797,111,550, and it is at the current figure having observed a 19.98% plummet. Compared to Ether, the value of Bitcoin has increased by 0.25%.

Although Bitcoin is currently exhibiting an upward growth, it doesn’t mean it is out of trouble. However, if the investors keep moving forward alongside the bulls, then Bitcoin may cross the $40k per BTC mark. Crossing the particular mark would strengthen the rally and Bitcoin’s price may hit $41088.93 (R1).

As the sentiments of the investors keep growing, it may become easier for the bulls to achieve a higher price. The R2 that the investors may aim for would be $44,786.94 per BTC. Another rally formed by the investors to support Bitcoin may push it up to $48,369.89.

In case the bulls are not able to move Bitcoin’s RSI into the positive territory, then Bitcoin may get pulled down to $36,824.99. If the bulls do not demonstrate much buying power, then the situation may fall into the bears’ court.

The bears may go for another major selling spree, which would push Bitcoin’s price even lower. If the investors start moving towards the bearish side, then Bitcoin’s price may get pulled down to $30,159.66.

Then comes Ethereum (ETH) which is also experiencing a 6.06% rally and its price has elevated to 2,682.38 per ETH. The market valuation of ETH has also surged at the same rate and the figure currently observed by ETH is worth $320,905,639,095.

For now, the bullish predictions for ETH suggest that it may rise to $2,843.32 in near future. Higher values may seem achievable for ETH if the investors achieve the R1 (2,843.32). After hitting R1, the price of ETH may rise to R2 ($3,127.65). With more buying power, the price of ETH may rise to R3 ($3,440.42).

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