Bitcoin targets $ 51,000 “ultimate resistance” as ETH approaches $ 4,000 for the first time since May

189
SHARES
1.5k
VIEWS
ADVERTISEMENT


Bitcoin (BTC) crossed the $ 50,500 mark later on Friday as the return to the $ 50,000 mark put the bulls firmly back on the market.

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

Bitcoin is planning a $ 51,000 offensive

Data from Cointelegraph Markets Pro and TradingView showed BTC / USD is gaining ground after falling to a low of $ 48,300 overnight.

Related articles

An important re-test, Bitcoin’s price movement then reversed up, giving hope that $ 50,000 can now solidify as support.

Should that happen and the USD 51,000 resistance wear off, there are chances of an upward momentum move, said Cointelegraph analyst Michaël van de Poppe.

“The moment Bitcoin breaks out of that $ 51,000 mark, there is a chance we could just hit a vertical candle toward $ 58,000 or even $ 60,000,” he predicted in his latest YouTube update .

He added that in that scenario, altcoins, which have risen significantly this week, could lose heavily against BTC.

Meanwhile, a look at the buy and sell levels on the major exchange, Binance, revealed the last remaining major resistance level near $ 51,000, with support at $ 47,000.

BTC / USD buy and sell level (Binance) on September 3rd. Source: Material Indicators / Twitter

Ether is approaching $ 4,000

On Altcoins, Ether (ETH) stood out with an attack on $ 4,000 – a level it hasn’t reached since May.

Similar: Solana Extends The Rally With Another New High – Why Has SOL Price Raised 70% In One Week?

The largest altcoin gained another 5% on Friday, within $ 400 of its historic all-time high.

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

Solana (SOL), meanwhile, was the leader in the top 10 cryptocurrencies by market cap, climbing 20% ​​on the day to a peak of $ 140.

SOL displaced Dogecoin (DOGE) as the seventh largest cryptocurrency.