Bitcoin price is rising today and the major altcoins have also absorbed significant bullish momentum. Over the past weekend, BTC prices have risen by almost 15%, triggering a strong uptrend for the rest of the week.
Although the tokens witnessed a small pullback with some consolidation, the trend remains bullish. Currently, the markets are about to find another weekend with the possibility of producing another bullish wave over the next weekend.
Will Bitcoin (BTC) Price Hit $24,500?
Bitcoin price is not breaking above $23,000 as the bears are hampering the rally at $22,900. The last few hours witnessed a significant pent-up selling pressure seen a couple of days ago which brought the price down by 5% at the time.
Moving forward, the bears were exhausted to some degree, which helped the bulls push the price past the crucial resistance of $21.410. Furthermore, prices exploded and hit highs of over $22,500 for the first time in the last 4 months.
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BTC price after recovering from $20,500 broke through crucial resistance levels at $21,500 and spiked beyond $22,500 marking new 2023 highs. Now bulls seem stumped as assets come under pressure minor bassist. However, next weekend may see a breakout after experiencing excessive price compression.
A breakout can push the price beyond $24,000, while on a rejection, the price can test the lower support at $22,500. If it fails to hold at these levels, a drop to $20,550 may be imminent.
Ethereum (ETH) Price Is About to Hit $1700 This Weekend
After facing a rejection of $1,780, Ethereum price fell sharply to bottom just above $1,000. However, since early 2023, the price maintained a significant rally and broke above $1,650. Currently, the second The largest crypto is facing notable bearish pressure that may be overcome over the next weekend.
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ETH price is currently trading near one of the important resistance levels at $1657 and is facing bearish action. In case of extended bearish pressure, the price can fall towards the lower support at $1596 and trigger a bounce. However, the next price zone to cross could be between $1,750 and $1,770, which may clear the way towards $1,800.
This post Top Crypto Predictions for January 2023: Bitcoin (BTC) and Ethereum (ETH) May Hit These Levels in the Next Week!
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