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Bitcoin targets $51K ‘final resistance’ as ETH nears $4K for the first time since May


Bitcoin targets $51K ‘final resistance’ as ETH nears $4K for the first time since May. As Bitcoin (BTC) crossed $50,000 on Friday, bulls steadily returned to the forefront.

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

Bitcoin lines up a $51,000 offensive

Recent data revealed BTC/USD recovery after falling to $48,300 lows overnight. Moreover, as Bitcoin price action inverted upward, it gave hope that $50,000 could now serve as a strong support level.

If that occurs and the $ 51,000 resistance recedes, the chances of an upward impulse move increase, analyst Michael van de Poppe said.

“As soon as bitcoin surpasses its $51,000 hurdle, we might just see a vertical candle towards $58,000 or even $60,000”, he foretold in his latest YouTube update. This scenario may result in altcoins, which this week have gained greatly, losing heavily to BTC.

In contrast, Binance’s buy and sell levels indicate that the last remaining major resistance level is approaching $51,000, while support is situated at $47,000.

Ether closes in on $4,000

On altcoins, Ether (ETH) surpassed $4,000 for the first time since May. A 5% gain on Friday brings the largest altcoin within $400 of its all-time highs.

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

On the other hand, Solana (SOL) came first in the top 10 cryptos by market capitalization, rising 20% on the day to reach $ 140. Consequently, Solana (SOL) is now the seventh most popular cryptocurrency, overtaking Dogecoin (DOGE).

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