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- The price of bitcoin falls into a deep sleep unable to escape the range resistance.
- Ethereum defends support for $ 120: Upside is still well deservedS.
A look at the market on Friday shows that the cryptocurrencies will close the week in red. This week's trading has been quiet while digital resources have shown a high level of stability. The same can not be said for last week's trading, which saw a fall of the falls Thursday, where Bitcoin lost $ 3,500. The market opened the week at $ 124 billion, but is likely to close it at the current $ 122. billion. The bitcoin domain is still over half of the market share, specifically at 52.4%.
Technical image bitcoin price
After the sharp decline last week, the price of Bitcoin has fallen into a deep sleep. It seems that the bulls have taken a nap, leaving the right momentum to keep the price from slipping below the $ 3.550 range support. Attempts to push the price above the resistance of the $ 3,700 range were thwarted by selling pressure. Furthermore, the price is traded below the simple moving average (SMA) of 50 days and 100 days. The 50-SMA limits gains slightly above the current BTC value ($ 3,627). The gap between moving averages is widening to show that bear pressure will continue in the next sessions before the weekend.
4 hour BTC / USD chart
Technical photo of the price of Ethereum
Ethereum, on the other hand, is also stuck in a range with a rise to $ 130. The ETH is valued at $ 112.92 at the time of printing and is likely to continue operating in the same range for some days. However, a break beyond the resistance of the range will open the way for a correction towards $ 140 (key resistance). On the flip side, support is set at $ 120 and $ 115 respectively.
ETH / USD 4-hour chart
Read more:
Bitcoin and all major currencies ignore the positive fundamentals
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