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BTC and ETH Price Analysis for October 17

Mon, 10/17/2022 - 13:08
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Denys Serhiichuk
How great are chances for further rise of top coins?
BTC and ETH Price Analysis for October 17
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The new week has started with a market bounce back as most of the coins are in the green zone.

Top coins by CoinMarketCap

BTC/USD

The price of Bitcoin (BTC) has increased by 1.58% over the last 24 hours.

BTC/USD chart by TradingView

Bitcoin (BTC) might have fixed above the $19,000 mark, which means that buyers are ready to keep the rise going. At the moment, one should pay close attention to the interim resistance level at $19,647. If bulls break it, a further rise to the $20,000 zone is likely. Thus, the rising volume confirms buyers'  strength.

Bitcoin is trading at $19,433 at press time.

ETH/USD

Ethereum (ETH) has gained more than Bitcoin (BTC) with a rise of 2.49% since yesterday.

ETH/USD chart by TradingView

On the daily chart, Ethereum (ETH) is trading similar to Bitcoin (BTC) as the rate is coming close to the resistance level at $1,338. If buyers can hold the gained initiative, the rise may continue up to the $1,360-$1,380 zone. Such a scenario is relevant until the end of the current month.

Ethereum is trading at $1,315 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.