- Bitcoin’s price has been locked below a descending trend line.
- Ethereum (ETH) price dropped below $3,260 before rising again.
For some time now, the price of bitcoin has been stabilizing above the $44,500 mark. Even the April 1 downtick could not break through this level, bolstering the optimistic view. Regardless, BTC’s price has remained flat for the last week or two, showing no signs of instability. However, the significant crypto is poised for an uptick in volatility and will likely reach an important psychological threshold before this week’s end, according to two on-chain measurements.
Since the closing price of the March 28 candlestick, Bitcoin’s price has been locked below a descending trend line. Beyond this point, nothing has worked. Nevertheless, a symmetrical triangle is formed by joining the candlestick bodies of the swing highs and lows since March 28.
7 Percent Increase to $50,000
The breakout point is added to the distance between the initial swing high and low, and this technical pattern predicts a 7 percent increase to $50,000. It will be a bullish breakthrough if Bitcoin price breaks out of this pattern to the upside at about $46,685. According to CoinMarketCap, the Bitcoin price today is $45,365.21 USD with a 24-hour trading volume of $34,761,006,963 USD. Bitcoin has been down 2.88% in the last 24 hours.
At $3,530, Ethereum began a steep drop. Ethereum (ETH) price dropped below $3,260 before rising again. The $3,525 and $3,530 resistance levels held Ethereum back. The ETH price peaked at $3,525 and then began a steep drop. A 6.21 percent gain in total crypto market volume and a 2.84 percent drop in total crypto market cap have been recorded in the past day, bringing the worldwide crypto market cap to $114.17 billion.