Bitcoin targets $ 51,000 final resistance as ETH approaches $ 4,000 for the first time since May

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Bitcoin (BTC) broke above $ 50,500 later on Friday, as a return to the $ 50,000 mark put the bulls firmly back on the scene.

1 hour BTC / USD candle chart (Bitstamp). Source: TradingViewBitcoin Prepares $ 51,000 Offensive

Data from Cointelegraph Markets Pro and TradingView showed that BTC / USD was gaining ground after plunging to $ 48,300 overnight.

In an important new test, Bitcoin’s price action then reversed to the upside, giving hope that $ 50,000 could now cement itself as support.

If that happens and the $ 51,000 resistance wears off, the odds are favorable for a bullish move, Cointelegraph analyst Michal van de Poppe said.

By the time Bitcoin breaks out of that $ 51,000 level, it is likely that we will only get a vertical candle towards $ 58,000 or even $ 60,000, he predicted in his latest YouTube update.

He added that in this scenario altcoins, which have gained significantly this week, could lose heavily against BTC.

A look at the buy and sell levels on the main Binance exchange, meanwhile, highlighted the last major resistance level remaining nearby at $ 51,000, with support in place at $ 47,000.

BTC / USD (Binance) buy and sell levels as of September 3. Source: Material Indicators / TwitterEther close at $ 4,000

On altcoins, Ether (ETH) stood out with an attack at $ 4,000 a level it hasn’t hit since May.

Related: Solana Extends Rally With New High Why Did SOL Price Increase 70% In One Week?

The biggest altcoin gained another 5% on Friday, placing it below $ 400 of all-time all-time highs.

ETH / USD (Bitstamp) 1 day candle chart. Source: TradingView

Solana (SOL), meanwhile, was the leader in the top 10 cryptocurrencies by market cap, climbing 20% ​​on the day to $ 140.

In doing so, SOL supplanted Dogecoin (DOGE) as the seventh largest cryptocurrency.

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