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Bitcoin Now Aims For $51,000 While Ethereum Also Looks Promising in Terms of Market Cap
According to TradingView data, BTC/USD is gaining momentum after falling to lows of $48,300 overnight.
Following an important retest, Bitcoin price movement turned upward, raising hopes that $50,000 may now be firmly established as support.
If that happens and the $51,000 resistance disappears, the odds favor an impulsive move to the upside, according to analyst Michaël van de Poppe.
“The minute Bitcoin breaks out of this $51,000 barrier, the chances are that we will only see one vertical candle towards $58,000, or perhaps $60,000,” he said in his most recent YouTube update.
He went on to say that in that situation, cryptocurrencies, which have made significant gains this week, may lose significantly against BTC.
ETH Price Approaches $4,000 In Value
Ether (ETH) stood out among cryptocurrencies with an attack on $4,000 - a level it hasn't seen since May.
The largest altcoin increased by 5% on Friday, bringing it within $400 of its all-time high.
Meanwhile, Solana (SOL) was the market capitalization leader among the top ten cryptocurrencies, rising 20% on the day to reach $140.
As a result, SOL has surpassed Dogecoin (DOGE) to become the seventh-largest cryptocurrency.