- The crypto market continues to remain under the clutches of the bears, post an up-tick.
- Analyst gives out entry and breakout zones for BTC and ETH in the short term.
The crypto street is back to its slow pace, following an up-tick, which did bring a sigh of relief amongst traders in the community. Traders and investors have been eagerly waiting for their assets to yield higher returns. As a majority of them have bought the dip.
Crypto analyst mentions that the weekends have always been crucial for the market. And the digital assets have retraced their way back to levels from the previous week. He further enlightens on the support and break-out levels for the top cryptos.
These Levels Remain Crucial For BTC And ETH!
The top-tier cryptos have been prone to market fluctuations, and are the ones that fall prey to major amendments around the space. Bitcoin and Ethereum have been the go-to choice for traders in the community. Traders are keen on break-out, and support levels of both the digital assets.
Bitcoin (BTC) Price:
The star crypto at press time is trading at $57,265.87 with gains being negative by 3.8%. The market capitalization of Bitcoin is currently at about $1,081,191,690,444. While the trading volume for 24-hours is at $29,281,866,687.
The digital coin is back to current levels post hitting the levels around $60,000. The analyst pens the support levels at around $54,000, and the next support at around $50,000. The break-out levels are at around $60,000, and then at $63,000.
Ethereum (ETH) Price:
The second-largest crypto at press time is trading at $4,183 with negative gains of 4.2% While the market cap of the digital asset is at about $495,486,819,476. The intraday trade volumes are at $18,105,569,353.
The analyst mentions that ETH/BTC pair has been showing strength. While the EH/USDT pair shows signs of weakness. The digital coin might possibly trace its way to its support levels around $4,100, prior to attempting a rebound.
Collectively, traders have pinned hawk’s eye over top-tier cryptos. Bitcoin and Ethereum have been top picks of traders and hodlers in the crypto street. The market has been witnessing lengthening cycles, which has resulted in a delay in the poised bullish cycle.
Enthusiasts are anticipating a massive altseason in the first quarter of 2022. Which could follow post, current market corrections, which might give out spikes at intervals.