BTC Continues to Consolidate, Prices Move Slightly Above $30,000 – Market Updates Bitcoin News

Bitcoin moved away from Tuesday’s lows during the hump-day session, as prices were once again above $30,000. Over the past few weeks prices have hovered above and below that level with no notable gains. The ETH also slightly increased.

Bitcoin

The volatility in crypto markets was once again present during Wednesday’s session, as BTC moved marginally higher.

Bitcoin prices have been hovering above and below $30,000 for the past few weeks. Prices are making this move again today.

Following a low of $29,445.88 on Tuesday, BTC/USD spiked to an intraday high of $31,489.68 earlier in today’s session.

The bulls tried to break the $31,500 resistance level on Monday but to no avail.

As of writing, the world’s largest cryptocurrency is now trading at $30,218.01, which is still 2.5% higher than yesterday’s bottom.

However, with bulls likely closing out earlier positions, today’s gains have gradually eased, with the likelihood of prices dropping below $30,000 still on the cards.

Ethereum

ETH rose above its previous price level, which was also below its key point.

The world’s second-largest crypto token fell to an intraday low of $1,729.41 on Tuesday, however hump-day has seen prices peak at $1,862.91.

This surge, which sent ethereum back above $1,800, was nearly 4% higher than yesterday’s low, however it was not enough to keep bearish sentiment away.

As of this writing, ETH is below $1,800 as bulls are likely to have secured earlier gains.

Overall, ETH trades at $1.792.54, and a new level of bearish sentiment is pushing prices to support at $1.750.

Is it possible that BTC/ETH will continue to consolidate in the coming week? Please leave your comments.

Eliman Dambell

Eliman is a market analyst with a diverse perspective. He has worked in various capacities, including as a retail trading teacher, brokerage director, and market commentator for Crypto, Stocks, and FX.