After a turbulent month, Bitcoin has rebounded and is close to reaching $50,000. Ethereum price reached $3,200, up 8.8% in the last 24 hours, and Cardano price has broken above $2 by 4.7% in the last 24 hours. The cryptocurrency market started in the fourth quarter of the year and is preparing for a rally.
Popular analyst and trader Michael van de Poppe believes that the best cryptocurrencies Bitcoin (BTC) and Ethereum (ETH) will return to all-time highs, while other altcoins will rise.
Bitcoin (BTC)
Van de Poppe said in his latest strategy session on YouTube that he is keeping a watch on the $44,000 minimum for BTC price overshoot. He also believes that the cryptocurrency market is “on the verge of” a major breakout.
“If we’re going to hack $44,000, you don’t really want to see [BTC] hang around [that level] even more. You obviously want to see a major breakthrough.”
He further says, on the daily time frame, we hit the resistance, but looking at the lower high recently, we broke the trend and turned into a bullish outlook, which means we will probably continue to the upside.
Hence, the price of BTC will reach a new higher low and if it can correct this area around $48K, then BTC will make a new higher high, which is likely to be around the all-time high.
Ethereum (ETH)
In terms of Ethereum, the analyst considers $3,000 and $3,130 critical levels.
He says, when Bitcoin merges, it is very likely that ETH against Bitcoin or altcoins against Bitcoin will erupt.
He also talks about the comparison between ETH and USDT, and states that it broke above this resistance area [$3130]You obviously want to keep it there. Technically, you could go down to close to $3K, but you should wait for some consolidation before continuing in this area he added.
Solana
Next, the crypto analyst tells his Twitter followers that cryptocurrency Solana (SOL) is raising the arms of BTC to the top.
Those levels were marked earlier on $SOL. Lovely bounce.
A breakout above $145-150 should be another possible run. The critical level is around $145-150 though.”