Bitcoin (BTC), the world's largest cryptocurrency, has gained popularity and experienced a spike in recent days, hitting over $28,000, a 22 percent increase this month and a 65 percent increase since the beginning of the year. Meanwhile, Ethereum (ETH), the second largest cryptocurrency, has been strongly bid around the $1,750 .
The current price of Bitcoin is $27,800, with a 24-hour trading volume of $14.3 billion. Bitcoin has increased by 1.5% in the past 24 hours.
According to technical analysis, the BTC/USD pair is exhibiting a bullish trend at present. However, it could face some resistance when it reaches the $28,950 level.
If Bitcoin succeeds in surpassing the resistance level of $28,950, it could potentially drive its value higher to $29,200 or even $30,700.
However, if a bearish trend emerges, the support levels of around $26,600 and $25,200 are expected to offer significant support.
At present, the live Ethereum price stands at $1,760, with a 24-hour trading volume of $7.1 billion. In the last 24 hours, Ethereum has recorded a gain of 1%. Presently, Ethereum is facing difficulty in surpassing the resistance level of $1,800 and is trading consistently near the support zone of $1,700.
If the ETH/USD pair successfully breaches the $1,800 level, it is anticipated to face resistance at the $1,900 .
It is anticipated that support levels for the ETH/USD pair will be found at either $1,700 or $1,620.