After a tumultuous month, bitcoin has rebounded and is closing in on the crucial US50,000 milestone. Ethereum has hit $3,200 up by 8.8% in the last 24 hours, Cardano price has broken above $2 up by 4.7% in the last 24 hours. The Crypto market has kickstarted Q4 and is poised to hike.
Michael van de Poppe, a well-known analyst, and trader believe that top cryptos Bitcoin (BTC) and Ethereum (ETH) will return to all-time highs, while other altcoins will rally.
Van de Poppe in his recent YouTube strategy session said that he’s keeping a watch on $44,000 as a significant threshold for BTC price to break over. He also believes the cryptocurrency market is “on the verge” of a significant breakout.
“If we are going to break through $44k, you don’t really want to see [BTC] hang around [that level] even more. You clearly want to see a heavy breakout.”
He further says, On the daily time frame, we’ve reached resistance, but given our recent lower high, we’ve broken the trend and switched to a bullish outlook, implying that we’ll most likely continue heading upwards.
Hence, BTC price is going to make a new higher low, and if it can correct this region around $48k, BTC is going to make a new higher high, which will most likely be around the all-time high.
In terms of Ethereum, the analyst considers $3000 and $3130 to be critical levels.
He says, When Bitcoin consolidates, it is very likely that ETH against Bitcoin or altcoins against Bitcoin will break out.
He further speaks in comparison of ETH and USDT, he states It did break above this resistance zone [$3130], and it’s evident that you want to keep it there. Technically, you can drop to approximately $3k, but you should wait for some consolidation before continuing in this zone he added.
“Marked those levels earlier on $SOL. Beautiful bounce.
Breaking above $145-150 and another run should be possible. Crucial level around $145-150 though.”