Ethereum Price Prediction.
For Ethereum price prediction, we would be starting with the monthly timeframe, which has been in a downtrend for a while but is currently in a temporary bullish move. Looking closely at the candles, we can clearly see that a bullish candle engulfed a bearish candle leaving us in a bullish movement for the past 3 months.
Moving over to the weekly chart and zooming out completely, we draw our key levels a major support of $1,115 and a resistance level at $1,874, another resistance can be found at the $2,623 price level, the third resistance is at $3,500 and the last resistance level at $4,612, while the last support level is $54.
Looking at the chart we can spot a double bottom chart pattern at the $1,115 major support level which signals a change in trend.
Moving over to the daily timeframe, we can clearly see that price has gotten to our resistance level at $1,874 and we can see price rejecting that level and also price has been in a range within this level for a while this started around June 2022 and price hasn’t broken the range.
On the 4-hour timeframe, we can see that price is moving in line with the higher timeframes and has not broken the market structure but is currently stuck in another minor range with a resistance level at $1,830 and support at $1,725. A break above the minor resistance level would also mean a break into the major resistance level, which means the price would likely move to the $2,623 major resistance level.
A further break above the major resistance level would see Ethereum continue its bullish move, while a break below the minor resistance level would signal a sell entry to the major support level.
Finally, Ethereum price is currently stuck in a range as we watch and wait for the price to make a major movement and break up or downwards for us to know the position to take.
Bitcoin Price Prediction.
Bitcoin on the monthly timeframe is overall bearish and temporarily bullish, indicating a change in price or trying to make a higher low according to market structure. This slight change in trend has created a ‘morning star’ candlestick pattern on the monthly chart.
Moving on to the weekly timeframe, zooming out the chart completely, we can see all the price has done as we draw our key levels. Our first resistance shows at $60,000, the second resistance at $47,690, and the third resistance at $34,200. We then draw our support level, the first support level at $2,977 and the second support level at $15,260.
See Also: How to Trade Cryptocurrency and Make Profit: A Comprehensive Guide
Still looking at the zoomed-out chart, we can see an inverse head and shoulder chart pattern on our second major support level at $15,260, seeing this in our major support level adds more confluence to our trade. Zooming in completely, we can see that price had broken the neckline of the inverse head and shoulder pattern, changing the trend to a bullish trend.
Moving over to the daily timeframe and also zooming out completely, we can spot some minor support and resistance levels, the first at the neckline of the inverse head and shoulder pattern which is at the $25,000 price level, and the second at $28,300.
Moving over to the lower timeframe H4, a break above the $28,300 resistance level signals the continuation of the current bullish movement. Finally, the Bitcoin price prediction for this week 13 can be summarized thus: As price consolidates for a while, a break above the minor resistance level at $28,300, an entry point can be triggered as all the timeframes indicate a bullish movement.
See Also: Ethereum, Bnb, Bitcoin Price Prediction For Week 12
Bnb Price Prediction.
Bnb has been in an overall downtrend generally on the monthly timeframe, but it is currently having a bullish movement which suggests a change in trend. At the most recent price movement, we can see a bullish engulfing candlestick pattern, confirming our recent bullish movement.
Moving on the weekly timeframe, while zooming out completely, we can draw our major key levels. Our support level at $226 and our first resistance level at $340.50, the second resistance level at $446.50 and the third resistance level at $650.50, still on the weekly timeframe looking at what price has done we can see a double bottom chart pattern, making it a confluence for the bullish movement.
Moving over to the daily timeframe and zooming out completely, we can see that price is currently at the resistance level also, which means we would have to wait for the price to break the resistance level, before making a bullish entry.
On the 4-hour timeframe, we can see that the price has rejected the resistance level, but still respects the trendline which is drawn from the $299.788 price level to the second point at $316.088 point and the third point at $318.068 where the price tested before moving up strongly towards the current resistance level.
Finally, for price action traders, we have to wait and watch for what the price will do next as it is at a resistance level before we react to it. A break out above the current resistance level, or if the daily or 4-hour candle closes above the resistance level, it will signal our entry, and a break below the trendline would signal a sell action to the next support level.
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