Bitcoin, Ethereum tilts because ETH hits 7 months high

Key points:

• Bitcoin market participants expect resistance trendline breakouts, with nearby targets including $125,000.

• Attention continues to focus on alternative tokens, while Bitcoin merges, Ether hits a seven-month high.

• The latest market commentary says the rise across Altcoins is still there, and many have not replicated Ether’s rebound.

Bitcoin (BTC) hovered $18,500 in Sunday’s weekly shutdown as traders awaited a new uptick in BTC price breakout.

Trader: Bitcoin price focuses on $125,000 breakthrough

Data from CoIntelegraph Markets Pro and TradingView show that the higher the data forward after BTC/USD traveled on Friday was below $117,000.

Both retained most of their gains before the week, and with the merger taking over, it was still shy about the record high ever.

Now, the resistance trend line is hindering Bitcoin’s return to price discovery over $123,000, traders say.

Popular businessman Marcus Corvinus told X followers in a post on the day: “BTC is ready for major action.”

“Bitcoin moves within the triangle pattern and maintains strong support for around $116,000 to $117,000. Currently, it travels sideways, but not long.”

Corvinus uploaded a chart showing the trendline, indicating that the breakout will make BTC/USDT the next $125,000.

“If it breaks through support, the price could drop to $111,000 or less,” he added.

“This triangle is almost a breakthrough or collapse coming. Stay ready.

Rekt Capital, popular trader and analyst, is staring at a similar structure over the daily timeframe.

He commented on his chart: “Bitcoin is still in the series and consolidation continues, thus facilitating further capital inflows into altcoins.”

“But, break this lower high (black) in that range, and Bitcoin will challenge the breakthrough attempts of the high range.”

Ether races are 7 months high to weekly close

As CoIntelegraph reported, AltCoins returned to radar this week due to the Bitcoin merger.

Related: Can XRP prices reach $20? These charts say the “full cow” stage is still in

What is particularly interesting is the largest Altcoin Ether (ETH) and XRP (XRP), both of which are higher price predictions.

“Ethereum resynchronized a long time ago with a macro range of $2200-$3900,” summed up part of X’s post, which includes charts that extend to the end of 2023.

Crypto trader, analyst and entrepreneur Michaël Vande poppe called it a “ETH/USD” rebound, “absolutely amazing.”

“Ethereum is the first person to move, and it’s basically back to its December 24 high. That means there’s still a lot of room for upwards,” he said over the weekend.

“However, most altcoins are still down 50-80% from their December 24 high, which means there is not much room for upside.”

ETH/USD traded for the first time for the first time since December 18, 2024.

This article does not contain investment advice or advice. Every investment and trading move involves risks and readers should conduct their own research when making decisions.