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ETH/USD;
Chart showing performance of ETH/USD (on Daily Time Frame as of 17th of April, 2023). Source: Trading View
The bulls appear to have the upper hand and are driving Ethereum higher.
Price recently broke above the $2000 resistance zone and appears to continue moving in that direction, flipping the resistance to support.
We should expect a retest of that zone, and if it holds, the price could move higher to the $3500 zone, as it is the next major resistance zone.
The bears are deafeningly quiet since the price is bullish until invalidation.
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BTC/USDT;
Chart showing performance of BTC/USD (on Daily Time Frame as of 17th of April, 2023).
Source: Trading View
BTC has been on an upward trend since the beginning of the year, and the bulls appear to be in complete control, with higher highs and higher lows forming.
BTC is reaching its next resistance zone, which is at 32k.
We should expect a reaction there, most likely a slight pullback, and if the bulls maintain momentum, we might see the resistance zone flip to support and the price move higher.
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Learn and stay accustomed to these basic trading abbreviations and terminologies here.
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⚠️This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their research when deciding.