Bitcoin price is consolidating and the breakout could hit the next upside or downside barriers marked. Mixed signals are seen on chart of bitcoin. Ethereum price is also consolidating in a crucial range against the US Dollar and bitcoin. To gain traction ethereum must break the $477, $478 and $484 resistances. Find more information in this analysis below.
Uptrend is more likely to carry on than to reverse as the 100 SMA is above the longer-term 200 SMA. Strong bullish momentum is seen because the gap between the moving averages is also gradually widening.
However, stochastic heading lower without even hitting overbought levels to indicate that bears are likely eager to return. If the bear come back and pull the price below the triangle support, a drop to the area of interest around the $7,000 mark seems to happen.
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