Following Donald Trump's inauguration, the cryptocurrency market anticipates significant changes. Bitcoin and Ethereum are in the spotlight due to the changing economic and regulatory landscape.
Cryptocurrency Market Before Changes
As the world anticipates policy shifts following Donald Trump's inauguration, the cryptocurrency market is bracing for significant movements. Bitcoin and Ethereum, the two giants of the digital asset space, stand poised to react to the evolving economic and regulatory landscape.
Bitcoin Price Dynamics
Bitcoin’s price is fluctuating between $93,442 and $101,009, approaching its support level at $88,572. In the past week, it gained nearly 2%, hinting at possible bullish activity. The Relative Strength Index is at 31.30, close to oversold, which could indicate an upcoming rise. The 10-day Simple Moving Average is slightly below the 100-day average. If the trend continues, Bitcoin may test the resistance at $103,706 and potentially reach the next level at $111,273, which would be an increase of about 15%.
Ethereum Prospects
Ethereum’s price is fluctuating within the mid-three-thousands, currently ranging between $3,399 and $3,772. The Relative Strength Index is around 36, suggesting the asset is not overbought. With the nearest resistance level at $3,910 and support at $3,164, Ethereum shows potential for upward movement.
Investors and traders have significant opportunities with both Bitcoin and Ethereum after Trump’s inauguration. Bitcoin offers a well-established network with widespread acceptance. Ethereum provides a platform for smart contracts and decentralized applications, appealing to a broad range of uses.
