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February 12, 2024

Bitcoin and Ethereum Prices Surge, But Correction Possible

Thando Dlamini
Written byThando DlaminiWriter
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.

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Thando Dlamini
Thando Dlamini
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Thando Dlamini, a vivacious 22-year-old from South Africa, seamlessly blends her love for the vibrant world of online casinos with her meticulous localization skills, making the digital gaming experience truly South African.

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