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How great are chances to see continued drop next week?
BTC/USD
Bitcoin’s (BTC) price has dropped by 8% in the last week.
Despite the drop, Bitcoin (BTC) is still trading above the critical support level of $52,956, indicating that bulls remain in control of the market.
If the major crypto remains above this level, it has a high probability of returning to at least the area with the largest liquidity, which is approximately $61,000. Furthermore, the selling trading volume is minimal.
At the time of writing, Bitcoin was trading at $54,335 USD.
ETH/USD
Ethereum (ETH) hasn’t dropped as much as Bitcoin (BTC), but it has dropped by 5.79 percent in the previous week.
Despite the fall, Ethereum (ETH) is trading sideways. The leading cryptocurrency achieved a fake breakthrough of the $3,958 support level, confirming bulls’ dominance.
However, the currency does not appear to have gained enough power to regain the lost positions. In this circumstance, trading in the $4,000-$4,200 area is the most likely scenario for the coming week.
At the time of writing, Ethereum was trading at $4,085 USD.
