Bitcoin pulled back from Tuesday’s lows during the Humpback Day session as prices topped $30,000 again. Prices have fluctuated above and below this level over the past few weeks without significant gains over this period. Ethereum was also slightly higher.
Volatility in the cryptocurrency markets was again present during the Wednesday session as BTC moved slightly higher.
Over the past few weeks, Bitcoin has continued to fluctuate above and below the $30,000 mark, and prices are making that move again today.
After a low of $29,445.88 on Tuesday BTC/USD rose to an intraday high of $31,489.68 earlier in today’s session.
This move came as the bulls tried again to break the $31,500 resistance point, however, as they did on Monday, to no avail.
At the time of writing, the world’s largest cryptocurrency is now trading at $30,218.01, up 2.5% from yesterday’s bottom.
However, with the bulls likely to cover earlier positions, today’s gains have gradually eroded, and prices still have a chance of dropping below $30,000.
Ethereumwhich also hovered below its own key price point, rose above that level today.
The world’s second-largest crypto token fell to an intraday low of $1,729.41 on Tuesday, however prices peaked at $1,862.91 on the day of the hump.
This surge, which took Ethereum above $1,800, was almost 4% above yesterday’s low, however, it was not enough to contain the bearish sentiment.
At the time of writing and throughout the day, Ethereum dropped below $1,800 once more as the bulls likely provided earlier profits.
General, Ethereum is currently trading at $1,792.54 with renewed bearish sentiment looking to push prices towards support at $1,750.
Denial of responsibilityA: This article is for informational purposes only. This is not a direct offer or solicitation to buy or sell, nor is it a recommendation or endorsement of any products, services or companies. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is directly or indirectly liable for any damage or loss caused or alleged to be caused by the use of or reliance on any content, goods or services mentioned in this article.
Credit : news.bitcoin.com