Bitcoin and Ethereum underwent a decent rebound since the early trading hours. And showcase the possibilities of going parabolic despite outpowering the fear of a plunge. Despite the current conditions being pretty uncertain, the upcoming days may witness steady growth. And as both are hovering just above these levels and aim to rebound finely after accumulating huge strength.
BTC price and ETH price, both maintained a notable uptrend despite the market fluctuations. The uptrend line was still maintained amid the recent slash that dragged the entire crypto space by more than 10% to 12%. However, the fresh day start was pretty bullish, recording massive gains for most of the crypto assets. And hence as predicted by one of the analysts, Bitcoin and Ethereum still showcase a huge bullish momentum.
Here the analysts consider the 2-weekly chart and according to the chart, both the assets are testing their respective support levels. And more importantly, the assets are forming higher highs and higher lows which indicates that the assets are within the bullish range. As residing on support for an extended period may ignite a strong bullish divergence. And hence believes the cryptos may ignite a strong bull run very soon.
Currently, the BTC price & the ETH price both are trading just above the danger zone, but the fear of another pullback is still intact. And hence in these times, maintaining the lower support becomes extremely important than the magnificent jump. Therefore, Bitcoin and Ethereum no doubt showcased their tendency to rally higher by refusing to plunge towards lower support. And hence both showcasing bullish traversal could undergo a fine upswing on gaining a decent bullish momentum.
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