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Bitcoin and Ether to Rise as ETH Hits Seven-Month High

Altcoins By
Analyst Predicts Imminent All-Time Highs for Bitcoin, Sees One Memecoin
Analyst Predicts Imminent All-Time Highs for Bitcoin, Sees One Memecoin

The following are key points.

  • Bitcoin market participants are expecting a break-out of the trend line resistance, which could lead to a target as high as $125,000.

  • Ether has reached a seven-month peak.

  • The latest market commentaries confirm that altcoins still have upside potential, but many are not copying Ether’s recovery.

BitcoinBTCAs traders looked for another BTC breakout, ) circled an amount of $118.500 in Sunday’s closing weekly.

BTC/USD 1-hour chart. Source: Cointelegraph/TradingView

Bitcoin Price Targets $125,000 Breakout

The Data of Cointelegraph Markets Pro The following are some examples of how to get started: TradingView BTC/USD was heading up after it dropped below $117,000 last Friday.

While the pair has maintained much of its week’s gains, they are still short of new record highs due to consolidation.

Now traders claim that a trendline of resistance stands between Bitcoin and a price above $123,000.

“BTC is getting ready for a big move,” Marcus Corvinus, a popular and well-known trader told X followers Post a message on that day.

“Bitcoin is moving inside a triangle pattern and staying above strong support around $116,000 to $117,000. Right now, it’s going sideways  but not for long.”

Corvinus uploaded a graph showing the line of trend in question and said that BTC/USDT would reach $125,000 next if it broke out.

“If it breaks below support, price may fall to $111,000 or lower,” He added. 

“This triangle is almost full a breakout or breakdown is coming soon. Stay ready. The next big move is close.”

BTC?USDT 4-hour chart. Marcus Corvinus/X Source

Rekt, the popular trader-analyst RektCapital, was looking for similar structures on daily time frames.

“Bitcoin remains in the Range and the consolidation continues, facilitating further money flow into Altcoins,” He commented On his own chart.

“Break this Lower High (black) within the Range however and Bitcoin will challenge the Range High for another breakout attempt.”

BTC/USD 1-day chart. Source: Rekt Capital/X

Ether closes the week at a 7-month high

Cointelegraph reports that altcoins are returning to the forefront this week, with Bitcoin consolidating.

Related: Can XRP price reach $20? These charts say ‘full bull’ phase is still ahead

Ether, the largest altcoin (ETHIt is a cryptocurrency that uses XRP as its currency.XRPBoth fielding lofty price predictions.

“Ethereum has long ago resynchronised with its $2200-$3900 Macro Range,” summarized In part of a X-post which included a graph stretching back as far as late 2023.

ETH/USD 1-week chart. Source: Rekt Capital/X

Crypto trader, analyst and entrepreneur Michaël van de Poppe called the rebound on ETH/USD “absolutely phenomenal.”

“Ethereum is the first one to move and it has basically ran back to the highs of December ’24. That means that there’s still a lot of upside to come,” He argued Weekends are a great time to get away. 

“However, most of the Altcoins are still down 50-80% from that high in December ’24, meaning that there’s a ton of upside yet to be made.”

ETH/USD 1-day chart. Source: Cointelegraph/TradingView

The ETH/USD pair traded at $3.750 on Sunday for the first since December 18, 2024.

The article is not intended to provide investment advice. Each investment or trading decision involves some risk. Readers should do their own research before making any decisions.