Bitcoin Price Analysis
Two days ago, Bitcoin (BTC) was trading at $18,925.60, but on Wednesday, it jumped to a high of $19,241.96. The largest crypto by market cap also climbed away from its previous support level of $19,000. Today's move saw BTC rise above that price level and close near an important resistance level of $19,300. This could be seen as a positive sign for the crypto market as it shows that crypto investors are beginning to regain confidence in their investments back after recent declines.
Today, bitcoin (BTC) was back in the green after falling to a low of $18,925.60 yesterday.
On Wednesday, Bitcoin (BTC) rose above $19,000 for the first time in two days. After hitting a low of $18,925.60 on Tuesday, the cryptocurrency climbed back above $19,000 by noon eastern time.
Bitcoin was back in the green on Wednesday, as it was cheered by the US inflation report.
Ethereum Price Analysis
Ethereum (ETH) was also marginally higher today as prices rebounded from recent losses.
After a low of $1,272.74 on Tuesday, ETH/USD went into a trading range of $1,262.32 to $1,296.31. Today has shown that the bulls are back in control and have reentered the market after yesterday’s loss.
Looking at the chart, it is clear that Ethereum (ETH) is slightly up today as the cryptocurrency recovered from recent losses.
