Bitcoin Price AnalysisEthereum Price Analysis

Bitcoin and Ethereum price analysis; The technical situation indicates the continuation of the uptrend


After the price of Ethereum exceeded $ 4,000, analysts predict that Ether is on the way to reaching $ 5,000, citing factors that may strengthen the digital currency’s uptrend.

to the Report The Ethereum rose to a high of $ 4,460 yesterday after traders tried to bring the price of Bitcoin back to close to $ 63,000, breaking the all-time high.

Now, with Bitcoin backing at $ 60,000, analysts expect Ethereum to rise further and enter a price-discovery phase.

$ 90,000 Bitcoin

The upward fluctuations of Bitcoin and Ethereum prices have caused analysts to make different and mostly upward comments about the market. Crypto_Ed_NL, a Twitter analyst, tweeted:

I do not seem to have had enough of a bullish view on $ 40,000, and at that time I set a target of $ 73,000.

Bitcoin price chart
Bitcoin price chart

After the recent price increase and the upward acceleration jump, he wrote in another tweet:

Target [قبلی] Has risen to $ 90,000. After price correction [از آنجا] We will probably have $ 100,000.

Ethereum Price Chart
Ethereum Price Chart

Cryptoad wrote in his next tweet, referring to the upward scenario of the Bitcoin price, that such fluctuations could increase the price of Ethereum to $ 6,000. He wrote about this:

I do not need to disclaim any responsibility. I made a mistake when I made a mistake, but this time it’s a surprise to me if I make a mistake.

Analyzer Decentrader also provided a more detailed analysis of the market situation, stating that the 14% price pullback from the $ 67,000 level was due to the activity of traders who used leverage in their trades. According to Dissenter, these traders have aggressively created buying opportunities by using high leverage to push Bitcoin to its historic high.

Bitcoin price chart

According to the Dissenter, both Long Position traders and Short Position traders lost $ 120 million short of last Thursday and $ 100 million of Long liquidated the next day. Dissenterder believes that long-liquidated Long traders had created their uptrend late in the jump. Dissenterder writes about this:

Bitcoin pulls back to the starting point of the May rally, now and after an unsuccessful jump [اخیر] It acts as a level of support.

Higher timeframes indicate a continuation of the uptrend, and on the other hand, we will probably soon see the intersection of the 128-day moving average (MA128) and the 200-day moving average (MA200). In the past bullish markets, rally has been maintained after such intersections. Technically, the market cycle and intra-chain factors, we expect to reach $ 85,000 and $ 90,000, not a significant barrier to bitcoin.

Ether ready to reach $ 5,000

Leading market analyst Michael van de Poppe recently outlined his forecast for the market. “It simply came to our notice then.

We are seeing a favorable change in support / resistance, and the situation is probably ready to continue the trend towards $ 5,000.

Ethereum Price Chart

The current market value of digital currencies is $ 2.75 trillion. Bitcoin, meanwhile, has the largest dominance among other currencies with a 42% market share. Ethereum, Binance coin and Tetra are in the next categories.

.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button