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The leading cryptocurrency Bitcoin appears to have ended its downward trend, which started from $73,777 and extended to $60,775 before concluding with a 9.50% surge yesterday. Bitcoin, which has been falling for almost a week, started yesterday at $61,937, tested a low of $60,775, and then swiftly rose after the FED interest rate decision, closing the day at $67,840. Having seemingly concluded its correction, what will Bitcoin do next?
<h2 class="s8" id="span-class-s7-span-class-bumpedfont15-bitcoin-daily-chart-analysis-span-span">Bitcoin Daily Chart Analysis</h2>
Bitcoin reached its all-time high of $73,777 last week but faced selling pressure in this zone, leading to a decline to $60,775. Upon examining the daily chart, we observe that Bitcoin swiftly rose after the FED decision not to change interest rates and reclaimed the $66,851 level, which is above the EMA5. For Bitcoin to continue its upward movement, it needs to stay above this level and move towards the $69,000 and $74,000 resistance levels. In case selling pressure increases, our support levels are the EMA5 at $66,851 and the EMA22 at $65,583.
<h2 class="s8" id="span-class-s9-span-class-bumpedfont15-ethereum-technical-analysis-ethereum-continues-to-move-in-correlation-with-bitcoin-span-span">ETHEREUM TECHNICAL ANALYSIS: ETHEREUM CONTINUES TO MOVE IN CORRELATION WITH BITCOIN</h2>
ETH, whose market value dropped from $435 billion to $422 billion compared to the previous week, maintains its second-place position behind Bitcoin. Continuing its downward trend for a week, ETH followed yesterday’s sharp rise in Bitcoin after the FED decision. ETH lost 25% of its value over the past week, dropping from $4,095 to $3,059, but it gained 11.5% in yesterday’s sharp rise, recovering half of its losses. Starting the day at $3,516, ETH is currently trading at $3,519, showing a 0.09% increase.
<h2 class="s8" id="span-class-s7-span-class-bumpedfont15-ethereum-coin-daily-chart-analysis-span-span">ETHEREUM COIN Daily Chart Analysis</h2>
With its magnificent rise yesterday, ETH recovered half of its losses from the past week when it was on a downward trend. Upon analyzing the ETH chart, we can say that the $3,202 support level of EMA55 worked in the last two days, and the ETH price bounced up from this support. Currently, ETH is squeezed between EMA5 at $3,503 and EMA22 at $3,555, needing a close above EMA22 to sustain its upward movement. In case of pullbacks, both horizontal support and EMA55 at $3,202 could be monitored.
<img decoding="async" class="alignnone size-medium wp-image-135563" src="https://en.bitcoinsistemi.com/wp-content/uploads/2024/03/IMG_3394-300x154.jpeg" alt="" width="300" height="154" srcset="https://en.bitcoinsistemi.com/wp-content/uploads/2024/03/IMG_3394-300x154.jpeg 300w, https://en.bitcoinsistemi.com/wp-content/uploads/2024/03/IMG_3394-1024x525.jpeg 1024w, https://en.bitcoinsistemi.com/wp-content/uploads/2024/03/IMG_3394-768x394.jpeg 768w, https://en.bitcoinsistemi.com/wp-content/uploads/2024/03/IMG_3394-150x77.jpeg 150w, https://en.bitcoinsistemi.com/wp-content/uploads/2024/03/IMG_3394-696x357.jpeg 696w, https://en.bitcoinsistemi.com/wp-content/uploads/2024/03/IMG_3394-1068x548.jpeg 1068w, https://en.bitcoinsistemi.com/wp-content/uploads/2024/03/IMG_3394.jpeg 1109w" sizes="(max-width: 300px) 100vw, 300px">
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 Continue Reading: <a href="https://en.bitcoinsistemi.com/analyzing-the-dynamics-bitcoin-btc-ethereum-eth-and-furrever-token-furr-crypto-trends/" rel="noopener noreferrer nofollow">Analyzing the Dynamics: Bitcoin (BTC), Ethereum (ETH), and Furrever Token (FURR) Crypto Trends</a>

Analyzing the Dynamics: Bitcoin (BTC), Ethereum (ETH), and Furrever Token (FURR) Crypto Trends

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