Bitcoin beats out final resistance as Ethereum returns to $2K

Bitcoin beats out final resistance as Ethereum returns to $2K

Bitcoin (BTC) briefly hit $60,000 on April 2 in the latest installment of its slow grind back to all-time highs.

BTC/USD 1-hour candle chart (Bitstamp). Source: Tradingview

BTC price taps $60,000

Cointelegraph Markets Pro and TradingView showed bullish tendencies remaining overnight for BTC/USD, with local highs of $60,110 on Bitstamp.

A correction brought the pair down nearer to $59,000, circling $59,500 at the time of writing. 

The sustained higher levels mean that Bitcoin has effectively canceled out the flash crash from earlier this week, while still continuing to trade in a defined corridor.

For popular trader Crypto Ed, the outlook was for $60,000 to disappear as resistance based on fading selling pressure on exchanges. Higher than $70,000, however, may have to wait longer.

“I mentioned BTC target $73k and ETH $2300,” he wrote on Friday.

“From what I see now, ETH is on track. BTC not convinced yet it will reach that target in this cycle but I do think we’ll see a strong push above 60k (soonish).”

Others are more optimistic, with short-term estimates including $68,000 and $73,000 and 2021 targets exceeding $288,000.

BTC/USDT buy and sell levels (Binance) as of April 2. Source: Material Indicators

“The ~$57,500 area rejected BTC in February. But it looks like BTC turned this exact same level into support a couple of days ago,” fellow Twitter trader Rekt Capital added.

“Now it’s about follow-through from here. And we’re seeing some follow-through today.”

Ether at $5,000 “inevitable”

Crypto Ed touching on Ether (ETH) comes as the largest altcoin by market cap touched $2,000 for the first time since Feb. 20.

After dipping in line with Bitcoin price action, ETH/USD returned to form over the past week, seeing almost constant higher highs on daily timeframes to near its historic record of roughly $2,040.

ETH/USD 1-hour candle chart (Bitstamp). Source: TradingView

As Cointelegraph reported, price targets for Ether are now more bullish than ever, and include $2,600 next, with $5,000 and even $10,000 in play.

The amount of ETH held by exchanges, like BTC, has been dropping sharply this year.

ETH exchange reserves vs. ETH/USD. Source: CryptoQuant

Published at Fri, 02 Apr 2021 09:21:03 +0000

ALTCOIN NEWS BITCOIN NEWS BLOCKCHAIN NEWS CRYPTOCURRENCY NEWS ETHEREUM NEWS EXCHANGES NEWS LITECOIN NEWS MARKET NEWS REGULATION NEWS
Gamestop
Important Facts of Gamestop Entering into Cryptomarket
UniFarm
UniFarm Raises $2 Million After Launching Innovative Farming Pool Featuring 17 Top DeFi Projects
XRP, FTX Token, Waves Price Analysis
#HODL #SHILL YOUR SH*T COIN! #SPOTTED! #VIRALS BITCOIN SCAM WATCH FUN QUIZZES
bitcoin-scams
Top 5 Bitcoin Scams you should be aware of!
Instagram Influencer Accused of Scamming Followers Out of $2.5M In Bitcoin Scams
five assorted color cars parked inside room
WHAT WILL YOU BUY WITH YOUR BULL MARKET GAINS?
FAQ'S INTRODUCTION TO BITCOIN INTRODUCTION TO BLOCKCHAIN INTRODUCTION TO CRYPTOCURRENCY EXCHANGES
Cryptocurrency
4 Amazing Perspectives of Cryptocurrency Characteristics, Everyone Should know
How bitcoin Transactions Work
Bitcoin For Beginners: 5 Plus Important Reasons Why You Should Understand The Future Impact of Bitcoin On Society
blockchain
5 Important points about Blockchain, Cryptocurrency, and Bitcoin(Safe or Not)
EXCHANGES WALLETS
coinbase
4 Best Crypto Coins on Coinbase
flat lay gadgets beside bearded man
ULTIMATE LIST : BEST BITCOIN AND CRYPTOCURRENCY WALLETS 2021
person shopping online
2021 BEST BITCOIN AND CRYPTOCURRENCY HARDWARE WALLETS TO STORE YOUR COINS SAFE

Get more stuff like this
in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.