The cryptocurrency market is giving mixed signals today. Bitcoin and Ethereum prices stalled after recovery. However, despite this, the price of 2 cryptocurrencies continues to rally. Let’s look at the details of what happened in these 4 coins.
Bitcoin price is currently at $21,175. It has lost some value in the last 24 hours. After breaking $21,000, the leading coin peaked at $21,480 and moved into the overbought zone. It has been correcting ever since. It could drop to the $21,000 zone before a fresh rise. However, if Bitcoin price breaks the $21,475 level, the path to $22,000 and $22,750 will open. But if $21,000 is broken, this time the BTC price could drop to $20,650.
Ethereum behaves similarly to Bitcoin. It experiences less volatility and bearish correction. There is 38.2% Fibonacci at $1,600 which could be the target. If there is a break below this level, it could move towards the $1,585 or $1,568 levels. The main resistance in front of ETH is at $1,664. In case of a break here, it could head towards $1,700 or $1,720.
Chiliz (CHZ) Rose 6%
Chiliz (CHZ) is one of the two major altcoins that are rallying. It rose 6.17 percent in the last 24 hours. Famous trader Peter Brandt also says that the CHZ price bottomed out with a head and shoulders pattern. A large 11-month pattern shows CHZ bottoming out on the weekly chart. Ahead of CHZ is now $0.284 resistance. On its break, it could rally to $0.3318.