Tuesday, October 19, 2021
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Bitcoin Gains 5% but Ethereum Continue To Outperform BTC

The price of Bitcoin recovered further and the USD 34,000 region broke down and Ethereum is holding gains above USD 1,400.

Bitcoin price is showing positive signs and the USD 33,500 resistance has recently broken. The USD 34,000 level was even cleared by BTC and currently it is up over 5 percent. There are chances of a move above USD 35,000 if there is a close above USD 34,200 and USD 34,500.

Similarly, bullish momentum is gaining from most major altcoins. ETH/USD is stable above USD 1,400 and a USD 1,500 test seems to be taking place for the bulls.

The bitcoin price gained pace after a recovery wave above USD 33,000. BTC managed to pop above the resistance region of USD 34,000 and it even climbed above USD 34,200. 

In the coming sessions, if the bulls remain active above USD 34,200 and the price settles above USD 34,500, there are chances of a sustained upward move. The next major resistance sits near the level of USD 35,000.  on the other hand, the USD 33,500 level is a powerful support. Any further losses could bring the price to the USD 32,200 support zone.

The price of Ethereum corrected lower, but the bulls protected the USD 1,400 support. ETH is on the rise again, trading above USD 1,420. The immediate resistance is close to USD 1,450, above which the price could rise towards the resistance zone of USD 1,500.

The USD 1,400 level is a powerful support if there is a fresh decline. A close below USD 1,400 may lead the price towards the level of USD 1,350.

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