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February 12, 2024

Bitcoin and Ethereum Prices Surge, But Correction Possible

Ethan Lim
Written byEthan LimWriter
Researched byNikos PapadopoulosResearcher

According to CoinStats, most coins are experiencing an upward trend on the last day of the week. Bitcoin (BTC) has seen a 1.72% increase in price since yesterday, reaching a level close to $49,048. However, traders should closely monitor the candle closure, as a dip below yesterday's peak could indicate a correction to the nearest support zone at $46,000. At the time of writing, Bitcoin is trading at $48,122.

Bitcoin and Ethereum Prices Surge, But Correction Possible

On the other hand, Ethereum (ETH) has gained less than Bitcoin, with a 0.71% increase in price. From a technical perspective, Ethereum appears more bearish than Bitcoin, as the daily candle is expected to close far from its peak. If there are no significant changes by the end of the day, a local drop to the $2,400-$2,450 zone can be anticipated. Currently, Ethereum is trading at $2,508.

It is important to note that the information provided on U.Today is for informational purposes only and should not be considered as financial advice. Before making any investment decisions, it is recommended to conduct thorough research and consult with financial experts.

About the author
Ethan Lim
Ethan Lim
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Ethan Lim, a native of the Lion City, is Singapore’s rising star in the domain of online casino guide localization. He masterfully blends his intimate knowledge of local culture with international gaming standards to produce content that resonates deeply with Singaporeans.

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