Ethereum’s new all-time high prepares ETH for ‘continuation to $5,000’
Analysts say multiple factors point toward ETH rallying to $5,000 and BTC is not expected to encounter significant resistance until $85,000.
Auto Added by WPeMatico
Analysts say multiple factors point toward ETH rallying to $5,000 and BTC is not expected to encounter significant resistance until $85,000.
SOL price continues to climb with Solana's TVL also hitting a new high of nearly $14 billion.
The second-largest cryptocurrency will see over 8% growth against its top rival should the technical outlook play out.
“The Market Report” with Cointelegraph is live right now with special guest Big Cheds, a professional trader and one of the founding analysts of Bitcoin Live.
Solana's latest price rally comes in the wake of new Bitcoin all-time highs above $65,000.
According to crypto analyst and trader Alessio Rastani, Bitcoin will finalize its upward trajectory toward $100,000 in the next few months.
ETH/BTC dropped below its 200-day exponential moving average for the first time since March 2020, raising risks of more downside.
A confluence of at least three different bearish indicators appears on Ethereum's multi-timeframe charts, suggesting that its ongoing bull run risks exhaustion.
The eerie deja vu scenario can see Ethereum hit $13,000 within six months if history repeats.
The three bullish indicators converge as Ethereum's native token Ether climbs over 9% Friday to cross $3,000, its psychological resistance level.