Bitcoin & Ethereum prices continue to trade sideways as uncertainties continue to prevail around the crypto space. While the minor bounce could have lit up the hopes for a giant rally, some analysts believe, the worst is yet to come, while some claim the market has already bottomed out during the FTX collapse.
The BTC price remains under heavy pressure due to the miner’s capitulation risks, while the ETH price displays some signs of stability and a possible rally to $1500.
Both the top tokens, hit the recent highs of $17,378 and $1,302 respectively after the US FED Chair Jerome Powell lowered the rate at which the rates will be hiked, effective from December. However, the fresh bearish divergence formation on Bitcoin & Ethereum caused the top tokens to plunge slightly in recent times.
According to the predictions of well-known analyst Michael van de Poppe, the Bitcoin price may continue its upswing and reach levels above $18.3K, but only after a retest of the $16.6K support levels. The analyst also pointed out the recent bottoms and said the bottoms could have been reached, and hence a notable rise may be ahead.
The analyst also rolled out his predictions for Ethereum’s price and said it is already showing some strength after it flipped from the low of $1,150. However, he still remains optimistic about the breakout beyond $1,225, which may open up a run towards $1,350 and later $1,550.