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Bitcoin price is rising today and major altcoins have also absorbed significant bullish momentum. Over the past weekend, BTC prices jumped nearly 15%, setting off a strong uptrend for the rest of the week.
Although the tokens saw a slight pullback with some consolidation, the trend continues to remain bullish. Currently, the markets are about to meet another weekend with the possibility of producing another bullish wave over the coming weekend.
Will the price of Bitcoin (BTC) reach $24,500?
Bitcoin price does not rise above $23,000 as the bears hinder the rally to $22,900. The last few hours saw the build up of significant selling pressure which was seen a few days ago and which then reduced the price by 5%.
Going forward, the bears were exhausted to some extent, which helped the bulls push the price past the crucial resistance at $21,410. Moreover, prices exploded and reached highs above $22,500 for the first time in the last 4 months.
Commercial view
BTC price after rebounding from $20,500, broke through crucial resistance levels at $21,500 and climbed past $22,500, marking new highs for 2023. Now bulls look puzzled as assets are under slight downward pressure. However, the coming weekend may see a breakout after experiencing excessive price compression.
A breakout can lift the price past $24,000 while a rejection can test the support below $22,500. If it fails to sustain these levels, a drop to $20,550 may be imminent.
Ethereum (ETH) price is set to hit $1700 this weekend
After facing rejection from $1780, Ethereum price fell sharply to bottom just above $1000. However, since the start of 2023, the price has maintained a significant rise and moved above $1650. Currently, the second-largest crypto is facing noticeable downside pressure that could be overcome over the coming weekend.
Commercial view
ETH price is currently trading near one of the important resistance levels at $1657 and is facing bearish action. If there is prolonged downside pressure, the price may drop towards the support below $1596 and trigger a rebound. However, the next price zone to break through could be between $1750 and $1770, which could pave the way towards $1800.
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Sources 2/ https://news.google.com/__i/rss/rd/articles/CBMijgFodHRwczovL2NvaW5wZWRpYS5vcmcvcHJpY2UtYW5hbHlzaXMvdG9wLWNyeXB0by1wcmVkaWN0aW9ucy1mb3ItamFudWFyeS0yMDIzLWJpdGNvaW4tYnRjLWV0aGVyZXVtLWV0aC1tYXktaGl0LXRoZXNlLWxldmVscy1pbi10aGUtY29taW5nLXdlZWsv0gGSAWh0dHBzOi8vY29pbnBlZGlhLm9yZy9wcmljZS1hbmFseXNpcy90b3AtY3J5cHRvLXByZWRpY3Rpb25zLWZvci1qYW51YXJ5LTIwMjMtYml0Y29pbi1idGMtZXRoZXJldW0tZXRoLW1heS1oaXQtdGhlc2UtbGV2ZWxzLWluLXRoZS1jb21pbmctd2Vlay9hbXAv?oc=5 The mention sources can contact us to remove/changing this article |
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