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The foggy future has cleared for investors who hate uncertainty, and the biggest problem, the FUD surrounding <a href="https://en.coin-turk.com/the-challenges-surrounding-binance-and-the-decline-in-market-share/”>Binance, is over. The ongoing rise in the price of Bitcoin is also related to this. After surpassing $37,800, the price is now at $37,600. So, what do the price fluctuations indicate in terms of possible targets?
Bitcoin (BTC) Predictions
After the news about Binance, we witnessed a sharp drop on November 21st, but the support levels were maintained. This indicates that investors started buying after the initial reaction. However, investors who think that a deeper support test will come in the short term can suppress this movement with profit-taking.
Technically, although the price briefly fell below the 20-day exponential moving average ($35,948), we did not see deeper lows. The price has been stuck between $34,800 and $38,000 for a while, which is an opportunity for short-term traders to make profit. RSI is positive.
After this stage, bulls need to break the $38,000 resistance and move towards $40,000. After the liquidity cleanse, the Bitcoin price should continue its movement towards $48,000.
We always talk about good things, but crypto markets also like surprises, so what if a decline starts? Investors may be concerned about Bitcoin closing below $34,800. In this case, we can see the price drop to $32,400. Indeed, in this scenario, altcoins will face a destructive period.
Ethereum (ETH) Price Analysis
Isn’t it time yet? The Ether price has been unable to hold $2,000 as a strong support for a long time. Even BlackRock applied for a spot ETH ETF to push the price above $2,200 and target new highs. Despite this good news, developments triggering the overall market decline overshadowed the news. So, what are we forgetting? When BlackRock did the same for BTC, the price did not immediately surpass $30,000.
Therefore, we can expect delayed effects of the BlackRock news on the ETH price by looking at the BTC performance in June. If the price convincingly breaks above $2,137, the movement towards $2,200 may continue. Then, a journey towards $3,000 can be expected for ETH.
On the contrary, a close below $1,880 may lead to a drop to $1,791.
