Bitcoin (BTC) and Ethereum (ETH), the two most famous cryptocurrencies continue to face major resistance from the bears. This has led to major declines in the cryptocurrency market. However, investors are still cheerful due to the invention of a new cryptocurrency investment platform, Sparklo, as it shows results for maximum ROIs.
Ethereum (ETH) Faces Resistance, The Bears are still in Play
The price of Ethereum (ETH) managed to hold above the $1,800 support level. For Ethereum (ETH), a base was established, and it has only recently begun to rise above $1,850.
The price of Ethereum (ETH) was able to rise above a 23.6% Fib level used to retrace the big drop from the $1,940 swing high to the $1,805 low. The $1,880 resistance level was not overcome, and the price was unable to maintain its position above the 100-hourly Simple Moving Average.
Currently, the price of Ethereum (ETH) is below both the 100-hour SMA and the $1,880 mark. It appears to be encountering difficulties near the 50% Fib retracement level of the significant decline from the swing high of $1,940 to the low of $1,805. Ethereum (ETH) may launch another negative wave if it is unable to overcome the $1,880 barrier.
Bitcoin (BTC) Susceptible to Further Declines
The commencement of a comeback wave in the price of Bitcoin (BTC) was based on the $28,000 resistance area. Bitcoin (BTC) surpassed the $28,200 resistance level in order to move into the short-term positive zone.
Bitcoin (BTC) was able to cross the 23.6% Fib retracement level, which marks the crucial slide from the $27,665 low to the $29,975 swing. However, the $28,800 area and the 100 hourly Simple moving average showed the bulls a significant resistance.
The price of Bitcoin (BTC) was rejected around the 50% Fib retracement level of the major slide from the $29,975 swing high to the $27,665 low. At the time of writing, it is trading beneath both the 100 hourly Simple moving average and $28,800.
On the hourly chart of the BTC/USD pair, a connecting positive trend line with support just below $28,200 is also emerging. There is immediate resistance near the $28,800.
The next substantial resistance is situated between the $29,000 to $29,080 range. The price of Bitcoin (BTC) may encounter a hurdle at the $28,800 resistance level, which might lead to another decline.
Sparklo Will Change The Method of Precious Metal Investments
Sparklo is transforming how investors engage with the precious metals market. Smooth and efficient deals are made possible by Sparklo’s trading platform since it has substantially greater liquidity than conventional metal trading businesses.
On Sparklo, users will also pay a reduced administration fee; way cheaper than at many traditional metal companies. Sparklo charges 0.1% yearly for asset management as opposed to 0.5% for traditional businesses.
Sparklo is projected to be one of the top performing currencies in 2023. Currently, the Sparklo (SPRK) token is worth only $0.017. However, the token’s stage one presale is almost sold out. Plus, there is a 50% bonus on all purchases made within the next 24 hours.
Therefore now could be a great time to join the wagon.
Find out more about the Sparklo presale:
Website: https://sparklo.finance
Presale: https://invest.sparklo.finance
Twitter: https://twitter.com/sparklo_finance
Telegram: https://t.me/sparklofinance
Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.
