Bitcoin and Ethereum Prices Are Heading North Next Week
• Bitcoin recently surged past $29,000 but experienced a sharp retracement thereafter.
• Ethereum’s price closely mirrors the performance trend of Bitcoin.
• Traders are expecting a continuation of the recent upward trend in the cryptocurrency market.
Volatility Is Waiting for BTC and ETH Prices
The crypto market is buzzing with excitement as Bitcoin and Ethereum prices appear to be poised for significant price momentum in the coming week. Over the last few weeks, these two leading cryptos showed massive gains, and investors are now waiting for an extended bullish rally to maximize their gain. Despite overall bearish market sentiments, investors are still betting on long-term gains on BTC and ETH as there is an astronomical spike in trading volume and buying pressure, creating possibilities of a new bull run next week.
BTC Price Analysis
Bitcoin reached a new nine-month high by surging past $29,000 recently, but the celebration was short-lived as the asset experienced a sharp retracement in the hours that followed. Following a loss of $28,000 the previous day, weekend trading remained relatively stable as traders awaited a break before the resumption of traditional finance markets, resulting in a lack of usual volatility. As of writing, BTC price trades at $27.5K with a decline of 2% in the last 24 hours. The weekly price chart indicates Bitcoin price will likely consolidate below $30K for the next few days. However, traders expect a breakout above $30K next week with Bitcoin heading toward crucial resistances at $34K-$38K levels.
ETH Price Analysis
Ethereum’s price has been closely mirroring that of Bitcoin lately due to multiple successful breaches of key resistance levels over the past few weeks which has created buying pressure among investors who have betted on long-term gains on this crypto asset. Currently trading at around $1,600 level with no major changes from yesterday’s closing figure; ETH could be looking forward towards testing higher resistances near its all time high level if it can make some strong moves next week backed by strong volumes due to increased buying pressure from traders wanting to capitalize on any potential bull run soon..
Bitcoin and Ethereum prices appear to be headed northward next week as buyers remain optimistic about future gains despite bearish market sentiments across many other altcoins in the cryptocurrency space. Both assets have shown massive gains over recent weeks which could continue if they manage to break through key resistances levels near their all time highs soon enough – something that seems more than possible given current trends!