Since a week ago, the Bitcoin price track has been predominantly upward. As a result, Bitcoin jumped several thousand dollars and surged above $43,000. The uptrend continued and BTC Price reclaimed $44,000 and also touched $45,000 before falling back to $44,000
At the time of writing Bitcoin is trading at $44,422. Ethereum’s (ETH) price is trading at $3,125.12 with minor corrections.
Decision Levels For Bitcoin and Ethereum – Time To Pay Attention!
John Bollinger, trader and financial analyst claims in a recent tweet that the $45,000 is a key pivot for Bitcoin.
Yesterday, March 25, 2022, the flagship currency spiked above $45,000 but couldn’t withstand the level as the currency slid towards the $44,000 range.
Currently, BTC price is consolidating below $45,400, if BTC remains above $44k, a breakthrough at the critical level of $45k followed by higher lows will signal a continuation to the upside.
On the upside, if the Bitcoin bulls clear the resistance at $45,400, and trade above $45,000 for at least 24 hours, this will be a bullish signal. The bullish momentum will extend to the previous highs where BTC price will be range-bound between $50,000 and $52,000 price levels.
In the above tweet, Bollinger is seen claiming that $3,200 is a key pivot for Ethereum, the second-largest cryptocurrency by market cap. In the early hours today, Ethereum was seen trading at $3,195, the highest level since Feb 10. Currently, at the time of reporting, Ethereum is signaling red with a plunge of 0.67% trading at $3,126.
John Bollinger urges his followers to pay attention as he believes Ethereum could lead the upcoming rally. In 2021, Ethereum and Bitcoin together gained a whopping 403%. The Cambrian explosion of non-fungible tokens (NFTs) pushed Ethereum to gain high demand.
Though Ethereum has not performed well in 2022, analysts still believe that it will come under spotlight much ahead of the Executive layer & Consensus layer merge which is scheduled to happen tentatively in 2022 summer.