The crypto market is in the process of ditching the bear market narrative. The flagship crypto, followed by Ethereum and other alts are all trying to breach new resistance levels to stay afloat if not to surge meteorically.
Bitcoin surged to an intraday high of $35,839.0, avoiding the sub-$34,000 levels and the first significant support level around $33,821. Bitcoin broke above the key resistance level at $35,243 during the rally before relaxing back. Bitcoin fell short of the $36,000 mark once more, with the second key resistance level at $35,992.
The king coin would have to avoid a retreat back to the first key resistance level at $35,243. If the surge continues BTC will have to clear second major resistance level is at $35,992.
If the surge continues, BTC will face the next resistance level at $37,414. However, if the price falls below the $34,570 support level, $33,821 will be the next major support to hold.
After failing various times to clear the psychological $2000 level, ETH price has successfully breached the level now. ETH is currently trading at $2161 up by 1.7% n the last 24 hours. However, now a slight pullback is evident before a massive upward trend towards $3000.
ETH might retrace to $1900 as predicted by analysts. As for the surge levels, $2894 is being proposed as an upper limit.
Ethereum is likely to face a mini correction phase before the rise. A strong resistance zone is placed between $2157 and $2266. in case it dips even further $1985-$2015 are key support levels to hold as predicted by analysts.
Ultra Bullish Predictions by Lark Davis
The market leaders Bitcoin and Ethereum have experienced intense volatility in just the last 6 months. What lies ahead for both the tokens is to be watched out for. They could either have meteoric rises doubling their value and making new ATH’s or stay consolidated for a long time perhaps even go south.
However, Popular analyst Lark Davis is extremely positive for Bitcoin and Ethereum’s price momentum. In a recent tweet, he expressed his ultra bullish predictions for BTC and ETH.
He believes, the tokens will surge to the moon, as Bitcoin will reach a 6 digits value and Ethereum will reach 5 digits value.
However, Davis has made many ultra bullish predictions for tokens in the past. It is to be watched out how well his prediction pans out this time.