{"id":605024,"date":"2023-02-05T20:49:12","date_gmt":"2023-02-06T02:49:12","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/02\/05\/bitcoin-and-ethereum-may-awaken-bears-if-fail-to-hold-this-level-heres-where-btc-and-eth-price-are-heading-this-weekend\/"},"modified":"2023-02-05T20:49:12","modified_gmt":"2023-02-06T02:49:12","slug":"bitcoin-and-ethereum-may-awaken-bears-if-fail-to-hold-this-level-heres-where-btc-and-eth-price-are-heading-this-weekend","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/02\/05\/bitcoin-and-ethereum-may-awaken-bears-if-fail-to-hold-this-level-heres-where-btc-and-eth-price-are-heading-this-weekend\/","title":{"rendered":"Bitcoin And Ethereum May Awaken Bears If Fail To Hold This Level! Here\u2019s Where BTC And ETH Price Are Heading This Weekend"},"content":{"rendered":"
\n
\n
\n
\"ETh<\/figure>\n<\/div>\n
\n

As the crypto market brings a worrying situation by trading on the verge of a flip price range, investors are keeping a close eye on leading assets: Bitcoin and Ethereum. With the weekend approaching at a fast pace, several analysts are wondering if BTC and ETH prices will be able to make a bullish comeback or form a price bottom.\u00a0<\/p>\n

BTC And ETH Prices Face Intense Pressure From Sellers<\/strong><\/h2>\n

This week seems to bring a barrier in the price chart of Bitcoin and Ethereum as both face an ongoing consolidation near a critical price level. Market leaders claim that a slowdown in the upward journey may cause another bearish reversal, slumping leading assets to December price levels.\u00a0<\/p>\n

Bitcoin Price Analysis<\/strong><\/h2>\n

This month has brought a high of $24K for Bitcoin since August 2022, pushing the trendline of BTC dominance exponentially. However, on-chain metrics suggest that Bitcoin\u2019s dominance has recently started forming a dip<\/a> after facing rejection near $24K, signifying an upcoming altcoin rally. Moreover, the largest Bitcoin corporate holder, MicroStrategy\u2019s quarterly financial report, posts substantial losses, creating turmoil in the BTC price chart.\u00a0<\/p>\n

<\/figure>\n

As of writing, BTC price trades at $23,665 with a decline of nearly 1%. A pseudonymous trader predicted a potential dip in Bitcoin\u2019s price trend. The analyst predicts that the Bitcoin price may drop heavily if it witnesses profit-taking sentiment from investors at $24K. If Bitcoin falls below $23K, it may reach its November high of $21K, from which Bitcoin may trigger a possible upward retracement<\/a>.\u00a0<\/p>\n

Ethereum Price Analysis<\/strong><\/h2>\n

Ethereum price chart looks bullish as it maintains its momentum near the $1,650 price level. Moreover, the ETH network will activate its Zhejiang public testnet next week ahead of the Shanghai upgrade, which may develop a bullish scenario for the asset<\/a>. However, a downtrend near $1,700 remains a concern as investors are looking to liquidate their holdings to avoid any upcoming risk that happened during the Merge event last September.\u00a0<\/p>\n

<\/figure>\n

According to CoinMarketCap, ETH\u2019s price trades at $1,662. Analyzing the daily price chart, Ethereum may face a rejection near the $1,700 level as the RSI-14 trades in an overbought region. Ethereum price may form a support level near the EMA-100 trend line at $1,563, which may spark a fresh bull run ahead<\/a> of the much-anticipated Shanghai upgrade.\u00a0<\/p>\n

However, a bullish trend is expected if Ethereum breaks its monthly resistance level of $1,700, above which the ETH price may take bulls to the $2K price level.\u00a0\u00a0<\/p>\n<\/div>\n

\n

Was this writing helpful?<\/h4>\n

No<\/span> Yes<\/span><\/h5>\n<\/div>\n
\n

\"Photo <\/a><\/p>\n

\n

Qadir AK<\/a><\/h3>\n

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

Read More<\/a>
\n Qadir AK<\/p>\n","protected":false},"excerpt":{"rendered":"

As the crypto market brings a worrying situation by trading on the verge of a flip price range, investors are keeping a close eye on leading assets: Bitcoin and Ethereum. With the weekend approaching at a fast pace, several analysts are wondering if BTC and ETH prices will be able to make a bullish comeback<\/p>\n","protected":false},"author":1,"featured_media":605025,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4041,25740],"tags":[],"class_list":{"0":"post-605024","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin","8":"category-ethereum"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/605024","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=605024"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/605024\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/605025"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=605024"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=605024"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=605024"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}