- Crypto Banter founder has provided insight into cryptocurrency price developments.
- Ran Neuner explained the market trend using notable price levels of the previous month.
- BTC attempted to cross above the previous month’s high before experiencing a pullback.
Ran Neuner, the founder of Crypto Banter, has provided insight into his analysis of how cryptocurrency prices could develop under the present conditions. In a video uploaded to YouTube, the renowned analyst explained the market trend using notable price levels of the previous month.
Neuner’s analysis revolved around the high, low, and mid-price levels of specific cryptocurrencies such as Bitcoin and Etherem in the past month. In addition to the price action and other charting elements, Neuner provided information on the trend possibilities for Bitcoin and other cryptos.
Using Bitcoin’s weekly chart on TradingView, Neuner showed that Bitcoin attempted to cross above the previous month’s high before experiencing a pullback. However, using a similar technique for Ethereum shows the price is lagging. At the time of the analysis, ETH’s price was yet to close above the mid-region of the previous month’s price levels.
Neuner noted that by climbing above the previous month’s low, Ethereum is back in the range, signifying a bullish momentum. According to the analyst, the impending price rally could see Ethereum climb toward the $2,020 region. That marks the upper level of the previous month’s significant price points.
Neuner noted in his analysis that Bitcoin is the leader among other cryptocurrencies. Hence, in most cases, it initiates the move ahead of the rest of the market. He pointed out a bullish trendline that acts as significant support, confirming Bitcoin’s upward movement. Bitcoin’s weekly chart on TradingView initiates the trendline from the November 2022 lows. Since then, the chat has displayed three identifiable legs of higher highs in a confirmed uptrend.
Bitcoin traded at $30,046 as of writing, marking a 15.5% gain in the past week. Its highest price so far this year is $31,035, of which a break above it could open the way for more upside movement ahead of the upcoming Bitcoin Halving.
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