in

Bitcoin Eyes $51K ‘Final Resistance’ As ETH Flirts With $4,000 – Cryptovibes.com – Daily Cryptocurrency and FX News

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


Bitcoin (BTC) has surpassed $50,900 on September 3 as a return above $50,000 puts the bulls firmly back on the scene. It now seems like it is all systems go for cracking the final hurdle located at $51,000 for Bitcoin and $4,000 for Ether as the weekend starts.

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

Data acquired from TradingView showed BTC/USD gaining strength after dropping to $48,300 overnight. A critical retest for the biggest crypto before it reversed upward. The bounce gave hope that $50K may now manage to cement itself as support.

If $50,000 becomes strong support and the resistance at $51,000 withers, there is a high possibility of an impulse move upward. One analyst predicted in a YouTube update:

“The moment that Bitcoin is breaking out of this $51,000 level, the chances are that we just get one vertical candle towards $58,000, or even $60,000.”

The analyst said that under this scenario, altcoins that have gained considerably this week might lose out massively against bitcoin. A look at the buy and sell levels on Binance exchange, in the meantime, highlighted the last remaining significant resistance level located around $51,000, with notable support already formed at $47,000.

BTC/USD buy and sell levels (Binance) as of Sept. 3. Source: Material Indicators/Twitter
BTC/USD buy and sell levels (Binance) as of Sept. 3. Source: Material Indicators/Twitter

Ether Creeping Toward $4,000

Ether stood out in the altcoin arena with an attack on $4,000 seeming imminent. That is a level that it has not reached since May 2021. The biggest altcoin gained another 5% today, putting it within $380 of historical all-time highs.

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

In the meantime, Solana (SOL) was the leader in the top 10 cryptos by market cap, gaining 20% on the day to trade above $140. The gains enabled SOL to supplant Dogecoin (DOGE) to become the seventh-biggest crypto.





Source link

Leave a Reply

Your email address will not be published.

GIPHY App Key not set. Please check settings

What do you think?

Cryptocurrency exchange Bitfinex has launched a new authentication standard for online payments service Bitfinex Pay.

Bitfinex Pay adopts an open authentication standard U2F.

Where to buy Solana as SOL overtakes Dogecoin

Where to buy Solana as SOL overtakes Dogecoin