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Bitcoin and Ethereum Technical Analysis 11th of March
Bitcoin prices stabilized on Friday, hovering just around the $40,000 mark. This follows a turbulent trading day in which BTC plummeted to its lowest level since Wednesday. Ethereum has also maintained marginally above its current support level.
Bitcoin
Following a tumultuous few sessions for the world’s biggest cryptocurrency, Bitcoin continued to trade at high levels of uncertainty on Friday.
BTC/USD began the day at $39,300 before sliding to an intraday low of $38,347.43, which was then followed by a high of $40,081.68.
As of this writing, bitcoin is trading at $39,447.64, up from $39,447.64 at the start of the day.
Price volatility has risen in recent days as a result of news of US President Joe Biden’s executive order, and the Russian invasion of Ukraine has also made traders nervous.
In terms of moving averages, both the 10-day and 25-day moving averages continued to interweave with one another, with no apparent directional trend.
However, with prices so near to the $37,600 support level, bears may continue to pursue it.
Ethereum
Although the price of ETH fell on Friday, it remained near to the support level of $2,550 going into the…
