Bitcoin, Ether Rise After Recent Poor Performance; Gains Could Be Limited — Market Talk
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Bitcoin and ether rise to five-week highs as investors buy the crypto currencies following their recent poor performance, says David Morrison at financial services provider Trade Nation in a note. There is little fundamental reason for these gains, only that both assets looked oversold in early February and buyers have gradually returned, Morrison says. Chart analysis suggests bitcoin and ether could rise further. However, gains could be limited and investors should be cautious. "Any reversal increases the danger of a break to fresh cycle lows," he says. Bitcoin rises more than 2% to a 5-week high of $74,441 while ether gains 7% to a near 6-week peak of $2,306.83, LSEG data show. In early February, bitcoin fell to around $60,000 and ether dropped below $1,800. (jessica.fleetham@wsj.com)
source: https://www.tradingview.com/news/DJN_DN20260316005219:0/
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