Bitcoin price has been on a rollercoaster ride since June 18. The most recent yet explosive run-up has hit targets mentioned in our previous publication. After hitting these levels, BTC has undone these gains quickly. However, the ongoing pullback has pushed BTC back to a stable demand zone that has the potential, at least, to trigger another leg-up.
Ethereum merged successfully and post the transition to proof-of-stake analysts have addressed the questions surrounding the ETH blockchain. Analysts remain bullish on Ethereum and set a new price target for the altcoin.
The cryptocurrency market liquidates early traders who partook in the 20% rally in early September. A sweep-the-lows event is likely underway. Key levels have been identified. Bitcoin price falls below $19,500, spelling bad news for the uptrend scenario. Ethereum has breached the August low at $1,419. Ripple price diverges as it rebounds into the 21-day simple moving average.