Analysts Predict Bitcoin and Ethereum Prices Amid Market Trends

As of the time this article was prepared, the price of Bitcoin (BTC) $108,448 surged to $59,999 against the USDT pair on Binance. If the current trend continues, we might see a new peak above $60,000 in the coming hours. Currently trading at $59,8522, Bitcoin remains a focal point in the crypto market, along with Ethereum (ETH) $2,546, as three different analysts shared their market predictions in the last half-hour.

Two Analysts’ Perspectives on Bitcoin

Two analysts recently shared their insights on the rapid increase in Bitcoin’s price. An analyst by the name of Stockmoney Lizards highlighted the strength of the support level indicated in their chart shared on September 11. Additionally, they suggested that BTC could form a new low between $58,000 and $52,000.

Conversely, if Bitcoin surpasses the breakout level shown on the chart, it is expected to aim for $73,777 again. If a bounce does not occur around $58,145, it is possible for the price to return to the blue area from the $52,400 range.

“Bitcoin update. The original arrows are still in place. We will either witness a rejection and return to $58/$56/$52k or we will break and initiate another attempt towards the previous ATH.”

Another crypto analyst described the recent surge as “perfect.” This analyst believes that with Bitcoin’s price returning perfectly, the upward momentum will accelerate if it closes above $57,000. A few days ago, they also mentioned that a strong stance above key support could lead to higher peaks.

Ethereum Price Forecast

Carl shared a chart for Ethereum (ETH), the largest altcoin by market cap. He noted that the downward trend line is breaking, and if ETH can remain above $2,400, it might initiate a new attempt at $2,806. Following these targets, it could aim for $3,387, $3,552, $3,871, and $4,080.

The support level identified lies between $2,000 and $2,200. Although ETH tested $2,111 during the last dip, it managed to hold strong. Any potential stable increase in ETH’s price will also support cash inflows for other altcoins.