The price of Bitcoin does not stop surprising us, it has already traded at more than 60k, returning to the crypto market the upward trend interrupted for several weeks. Today as the biggest hits new all-time highs, ETH and BNB also resume their trend and could soon be doing the same.
At the time of this writing, BTC is trading at $ 59,966.50, accumulating a 7.77% gain in the last 24 hours. ETH for its part reaches $ 1,887.79 again, while BNB marks $ 277.72.
Below is a technical analysis of the 3 largest in the ecosystem, seeking to forecast their future behavior.
After Conquering 60K, Bitcoin Should Make Higher Profits
With a developing daily candle already briefly reaching 60k and finally breaking through immediate resistance, Bitcoin is effectively resuming its medium-term trend, momentum that should extend quite a bit further.
When we charted a Fibonacci from the lowest point of the previous medium-term momentum, we noticed that after a clean correction towards 50%, BTC started a new impulsive wave, which should take it towards $ 67,000 minimum (-27% Fibonacci ).
A stronger momentum looking for the -61.8% Fibonacci would put us at a price of $ 79,000, both scenarios fully feasible.
Ethereum will soon seek $ 2,350
The daily chart of ETH vs USDT shows a behavior quite similar to that of Bitcoin. However, this cryptocurrency has not managed to set new all-time highs yet.
Now Ethereum could run into some trouble to break out of the neighboring $ 1,900 supply zone, but knowing that the medium-term trend has resumed, it won’t be as much of an obstacle.
After supporting near the $ 1,440 zone, showing signs of bearish exhaustion, the bulls managed to end the corrective process following a pullback towards the 61.8% Fibonacci level.
The developing momentum should seek $ 2,350 soon, and if we see a prolongation of this wave, $ 2,800 will be the next target.
BNB makes support at $ 254
Binance’s cryptocurrency has also been resuming its trend as have ETH and BTC, but it still lacks a bit of travel to reach its previous all-time high.
However, knowing the undoubted bullish force before, there is no reason to think that it will be a difficult task to set new records.
After making a correction towards the $ 210 area, BNB started to make new small lows and higher and higher highs.
Now respecting the support at $ 254, it is very likely that we are seeing the start of new momentum in the short term. Although this could be hampered by the supply zone created by the previous high, it is not very likely to be a problem for the bulls for too long.
Plotting a Fibonacci from the lowest point of the previous medium-term momentum, and following a pullback towards 61.8%, we note that Binance coin is already set to hit $ 415.
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