Bitcoin, Ether Set for Upside as ETH hits 7-Months High

Important points

• Bitcoin traders expect to see a breakout of the resistance trendline, and nearby targets include $125,000.

• Ether has reached a seven-month peak.

• According to the most recent market analysis, altcoins have a lot of upside potential. However, many still do not replicate Ether’s rise.

BitcoinBTC(circled $18,500 at Sunday’s close of the weekly trading session as traders watched for an upward breakout in BTC prices.

Bitcoin traders: Bitcoin prices eye $125,000 break

Data from Cointelegraph Markets Pro The following are some examples of how to get started: TradingView BTC/USD is heading upwards after falling below $117,000 on Friday.

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

The traders now say that there is a resistance line in the path of Bitcoin reaching a new price level above $123,000.

“BTC is getting ready for a big move,” Marcus Corvinus is a well-known and popular trader. told X followers In a blog post about the 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 posted a chart of the trendline in question. He said that BTC/USDT will reach $125,000 if a break occurs.

“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.”

Rekt, the popular trader-analyst RektCapital targeted a structure similar 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.”

Ether closes the week at a 7-month high

Cointelegraph reports that altcoins are returning to the forefront this week, as Bitcoin consolidates.

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

Ether is the biggest 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.

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.”

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

This article contains no investment recommendations or advice. Each investment or trading decision involves some risk. Readers should do their own research before making any decisions.