Bitcoin And Ethereum New Price Analysis

Bitcoin And Ethereum New Price Analysis

There are new predictions about the prices of Bitcoin and Ethereum. Check them out below.

Bitcoin and Ethereum price analysis

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At the moment of writing this article, both digital assets are trading in the red just like the rest of the most important coins out there.

A popular crypto analyst says the Bitcoin (BTC) and Ethereum (ETH) markets are mostly the same after yesterday’s Federal Open Markets Committee (FOMC) meeting.

In a new edition of his Cryptocademy newsletter, trader Justin Bennett breaks down BTC, ETH.

Bennett stated the following about BTC:

“BTC rallied into today’s FOMC, so the pullback on the 50 bps (basis points) hike was no surprise as late longs got flushed. BTC also retested the trend line support at $17,500 today, which is a level I mentioned in yesterday’s video. It’s going to take a close below that and $17,300 to open up lower levels. Alternatively, resistance for BTC comes in at $18,200 and $18,500.”

Looking at the second largest crypto by market cap, Ethereum, Bennett considers more options for the leading smart contract platform.

“ETH is down today after testing the $1,350 range highs for a second time. However, the $1,300 area (specifically $1,297) is still holding as support. It will take a daily close below that for Ethereum to turn bearish toward $1,235 and potentially lower. On the other hand, a daily close above $1,350 would open up the $1,420 area.”

At the moment of writing this article, BTC is trading in the red and the king coin is priced at $17,039 and ETH is also trading in the red and the price of 1 ETH is $1,213.

Bitcoin price prediction is out

It’s been just revealed that the popular crypto analyst Benjamin Cowen is expressing a bullish outlook for Bitcoin (BTC) over the coming months.

Cowen said recently that Bitcoin could start a bullish reversal later next year ahead of the king coin’s scheduled halving in 2024 and the possible loosening of monetary policies by the Federal Reserve.

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