Technical Analysis:Bitcoin , Ethereum on Top Again

Ethereum continued to grind higher despite yesterday’s correction, hitting a new record high yet again ad stabilizing its place as the second largest coin again. The coin is now prone to a correction after yesterday’s short-term sell signal, with the long-term momentum still being stretched as well. That said, the short-term uptrend is intact, and further gains are still possible. Key support levels below $1000 are found at $850, $740, $625, and near $575.

Bitcoin is testing yesterday’s lows after a choppy and bearish session, as the technicals still point to a continuation of the broader correction after the recent exponential run-up. The coin is also near the domain rising trendline that developed during the rally, and a break of the pattern is now likely with the $13,000 level now being in sight. Below that, further support is found at $11,300, $10,000, $9000, and stronger levels at $8200 and $7700.