Bitcoin And Ethereum Daily Price Forecast – Crypto Market Mixed On Last Trading Session Of The Week

The prevailing downtrend could continue in the coming sessions but ETH seems to have firm foundation which helps stay above $150 handle.
Colin First
Bitcoin Crash

The Bitcoin price (BTC/USD) has edged lower as a result of a downward correction that came after its Wednesday gains. The original cryptocurrency has been consolidating in a range with the downside capped at $3,500. Having opened at $3,931.05, the digital coin dropped below the $3,900 level in the early morning session and then continued to gradually decline until it reached an intraday low of $3,826.22 in the late afternoon trading. According to data from digital currency tracker Coinmarketcap, the coin finished the session at $3,836.74. Bitcoin saw some modest gains during the early hours of today’s session, when it rose to as high as $3,863.42. However, the coin has pulled back in more recent trading and is currently trading below the level of its Thursday close.

Ethereum Continues To Defy Market Bears With Solid Grip On $150 Handle

2018 was a difficult year for Bitcoin and the broader crypto currency. The original cryptocurrency ended the year at $3,742.70, having lost more than 73% in the 12 months to December 31, amid increased regulatory pressure, high-profile cyber-attacks against crypto exchanges, a significant cool down of the ICO market and weakened investor sentiment. But with 2019 already underway, crypto supporters hope that the market could make comeback. And according to some technical indicators, a Bitcoin comeback may indeed be coming soon. Meanwhile Ethereum continues to defy market bulls and trade positive. ETH/USD pair is currently trading at $153, about 1% higher than 24 hours ago.

A broader look at the chart shows that bulls are staging a steady come and that it is likely that Ethereum could retest $160 in the course of the day. Besides the pair has managed to regain foothold above $150 although it opened trading below $150. The Relative Strength Index (RSI) has resumed the uptrend from 48.57 to the current 65.57. The indicator is in an upward sloping momentum emphasizing the bulls have the control. However, there is a mixed message from the Moving Average Convergence Divergence (MACD) which is heading south from the 2019 high at +4.95. This means that the bulls must find support above $160 to avoid a reversal below $150.

Don't miss a thing!

Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Latest Articles

See All

Expand Your Knowledge

See All

Top Promotions

Top Brokers

IMPORTANT DISCLAIMERS
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
RISK DISCLAIMER
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.
FOLLOW US