• Bitcoin (BTC) and Ethereum (ETH) are expected to gain a bullish momentum in the coming week as the global market capitalization recovered above $1 trillion.
• BTC price is failing to surpass $23,000 as the bears are hindering the rally at $22,900.
• The past few hours witnessed significant selling pressure accumulated that was observed a couple of days ago that slashed the price by 5% then.
The crypto markets have been on a wild ride since the start of 2021 with the global market capitalization recovering above $1 trillion. The top cryptos, Bitcoin (BTC) and Ethereum (ETH), are expected to maintain an uptrend in the coming week as the markets are headed towards a bullish close for the month.
Presently, Bitcoin price is going up today and the major altcoins have also absorbed a significant bullish momentum. During the past weekend, BTC prices surged by nearly 15%, inciting a strong bullish trend for the rest of the week. Although the tokens witnessed a minor pullback with some consolidation, the trend continues to remain bullish.
However, BTC price is failing to surpass $23,000 as the bears are hindering the rally at $22,900. The past few hours witnessed significant selling pressure accumulated that was observed a couple of days ago that slashed the price by 5% then. Moving ahead, the bears were exhausted to some extent which helped the bulls to uplift the price beyond the crucial resistance at $21,410. Further, the prices exploded and marked highs beyond $22,500 for the first time in the past 4 months.
Trading View suggests that the bulls might witness a breakout if the prices cross the resistance at $23,100. If the breakout happens, the BTC price may hit $24,500 in the coming week. On the other hand, the bears will keep pushing the prices down if the breakout fails to materialize.
Ethereum (ETH) has also been experiencing a bullish trend in the past week with prices surging above $700. ETH prices are expected to remain stable in the coming week and may even hit $750 if the bulls manage to push the prices beyond the resistance at $700.
The crypto market is on a roller coaster ride this month, and investors are eagerly waiting to witness the volatility in the coming week to determine the fate of the top cryptos.