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As we start the new day, how are the prices of Bitcoin and Cryptocurrencies? Is the rise continuing? Here are the BTC, ETH prices!
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There was no significant price movement in Bitcoin this week, and prices generally followed a sideways trend. However, current technical indicators suggest that a move is possible in the coming days. In particular, a “Dead Cross” formation is observed on the 4-hour chart. This is usually interpreted as a harbinger of a downtrend.
Bitcoin and Cryptocurrencies Market Update! – January 18th
In the current situation, we can evaluate the possible scenarios for Bitcoin prices. As in previous similar cases, this Dead Cross formation could signal a downtrend. However, sometimes a short-term uptrend can also occur before this decline. In other words, Bitcoin prices could rise for a short period before falling.
- Bitcoin (BTC): BTC/USD pair is trading at $42,834 as of the writing of this article, up 0.11%. Resistance levels for BTC are in the range of $43,200-$44,300, and support levels are in the range of $42,600-$41,800.
- Ethereum (ETH): ETH/USDT pair is trading at $2,532 as of the writing of this article, up 0.08%. Resistance levels for ETH are in the range of $2,540-$2,710, and support levels are in the range of $2,375-$2,145.
- Dydx (DYDX): DYDX/USDT pair is trading at $3.19 as of the writing of this article, up 1.46%. Resistance levels for DYDX are in the range of $3.45-$4.18, and support levels are in the range of $3.09-$3.00.
- Jito (JTO): JTO/USDT pair is trading at $2.46 as of the writing of this article, down 3.75%. Resistance levels for JTO are in the range of $2.85-$3.11, and support levels are in the range of $2.36-$1.97.
- Arbitrum (ARB): ARB/USDT pair is trading at $1.95 as of the writing of this article, down 3.87%. Resistance levels for ARB are in the range of $2.07-$2.17, and support levels are in the range of $1.86-$1.74.