Currently, the price of Ethereum (ETH) is $3,613.37. To make a reasonable investment decision, we need to consider both technical and fundamental analysis of ETH.
1. Technical Analysis: • Support and Resistance Levels: • Strong Support: $3,400 – the price level that ETH has tested and bounced back from in the past. • Strong Resistance: $3,800 – the price level that ETH has struggled to surpass recently. • Technical Indicators: • RSI (Relative Strength Index): Currently at a neutral level, indicating no signs of overbought or oversold conditions. • MACD (Moving Average Convergence Divergence): The MACD line is crossing above the signal line, suggesting an upward trend.
2. Fundamental Analysis: • Technology and Applications: Ethereum is an open-source, decentralized blockchain platform that supports smart contracts and decentralized applications (dApps). It allows developers to build and deploy applications without the need for third-party intervention.  • Ecosystem: Ethereum has a rich ecosystem with numerous DeFi, NFT, and dApp projects, attracting the attention of the cryptocurrency community.
3. Investment Recommendations: • Buying Timing: • Short-term: Consider buying when the price adjusts to the support level near $3,500. • Medium and Long-term: Gradually buy at current price levels and when the price drops to strong support levels like $3,400, to accumulate position. • Selling Timing: • Short-term: Take profits at resistance levels near $3,800. • Medium and Long-term: Aim for higher targets such as $4,000 and $4,200, depending on market developments and news.
Currently, the price of Bitcoin (BTC) is 95,788 USD. To make a reasonable investment decision, we need to consider both the technical and fundamental analysis of BTC.
1. Technical Analysis: • Support and Resistance Levels: • Strong Support: 90,000 USD – the price level that BTC has tested and bounced back in the past. • Strong Resistance: 100,000 USD – an important psychological price level and also a target that many investors aim for. • Technical Indicators: • RSI (Relative Strength Index): Currently at a neutral level, indicating no signs of overbought or oversold. • MACD (Moving Average Convergence Divergence): The MACD line is crossing above the signal line, suggesting an upward trend.
2. Fundamental Analysis: • Halving Event: Expected to occur in 2024, this event will reduce the block reward for miners, decreasing the supply of new BTC, which could lead to price increases in the long term. • Widespread Adoption: Many financial institutions and large businesses have started accepting BTC as a means of payment or investment, enhancing the legitimacy and demand for BTC. • Price Predictions: Some experts predict BTC could reach 117,257 USD by 2024, and even up to 225,000 USD by 2026.
3. Investment Recommendations: • Buying Timing: • Short Term: Consider buying when the price adjusts to the support level near 90,000 USD. • Medium and Long Term: Gradually buy at current price levels and when the price decreases to strong support levels, in order to accumulate positions ahead of the upcoming Halving event. • Selling Timing: • Short Term: Take profits at resistance levels close to 100,000 USD. • Medium and Long Term: Aim for higher targets like 150,000 USD and 200,000 USD, depending on market developments.