Bitcoin price remained flat on Thursday, February 17. However, major altcoins dropped in the last 24 hours. The world’s favourite cryptocurrency price slightly dipped by 0.23 per cent to $44,002.67 at 0830 hours on Thursday, according to CoinMarketCap. Investors remained cautious even after Russia had started pulling back its troops from Ukraine border. All eyes were on US Federal Reserve as the central bank might increase rates sooner-than-expected to tackle rising inflation. However, crypto pundits were certain that the digital currencies will not see another January-tumble anytime soon.
Bitcoin Price Outlook
Commenting about Bitcoin’s price outlook, WazirX Trade Desk said, “Bitcoin continued to hold steady around the $44,000 level. Currently, the RSI for BTC is close to 60, which indicates a strong position. On the 4-hourly time-frame, the Bitcoin trend movement is within a triangle pattern. The next resistance is expected at $46,500 and immediate support is expected at $39,300.”
Ether Price Tumbles, What Experts Say About Future
Ether, the second largest cryptocurrency by market capitalisation lost significantly in the last 24 hours. The cryptocurrency tubled 1.27 per cent to #3,125.77 in a day, according to CoinMarketCap. “Ethereum held its position above the $3,100 level for the second day in a row. On the weekly chart,
Ethereum trend indicates a re-testing of the support level. The next resistance for Ethereum is expected at $3,400. Meanwhile, Twitter enabled users to receive and send tips in Ethereum which is another huge step in terms of large corporation’s eagerness in adopting cryptocurrencies,” WazirX trade desk said.
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