Bitcoin is positioning right behind the resistance with a 1% increase in this morning and it’s traded at 10,720 $. Bitcoin’s volatility dropped by 43% as it has been affected by the congestion on prices, the uncertainty of the new stimulus package, and Trump’s COVID-19 test being positive. Lastly, the precautions for the second wave of COVID can affect the cryptocurrency market which Bitcoin leads. As can be remembered, all financial markets were losing value while the first wave of COVID was effecting the markets, therefore the dollar was raining, and right after the rally started on the cryptocurrency market with Bitcoin’s leadership. 

BTC/USD started the day with a slight positive movement but there’s not a major change from yesterday’s situation. On the contrary, BTC prices are moving just behind the secondary declining trend which started on the 17th of August. If there’ll be a breakout on 10,750-10,850 $ levels, we can start to mention the previous top level of 11,200 $. However, this trend is continuing and every single rise is getting behind previous tops. That’s why the major support 10,450 $ levels should be paid attention to fallbacks.
 

Ethereum’s traded at 350 $ with a 0,3% slight increase this morning. The fees on Ethereum went up to 12 $ and gas usage reached 2 months high while Ethereum network usage reached its maximum levels. There’s a risk on Ethereum prices while sell-offs are keeping on in DeFi tokens, which brought popularity to Ethereum. Also, the markets are calming down as Trump’s health condition became better. On the other hand, short-term risks are active since the precautions for the second wave of coronavirus and the US elections getting closer. 

Technically Ethereum seems better than Bitcoin. But the calmness of Bitcoin shouldn’t be disregarded even though Etherum felt 17% in September. The narrow band is cruising around 345-363 $ levels. The secondary support level at 355 $ can be a threshold intraday.
 

deneme

deneme