Bitcoin, Ethereum Price Prediction- Will They Extend Price Recovery For The Coming Week?
Bitcoin, Ethereum price prediction: the market leaders, Bitcoin and Ethereum, showed sluggish price behavior earlier this week. With no significant gain or loss registered from these coins, the majority of major altcoins continue to struggle in a sideways rally. However, the BTC price breakout from its ongoing range may signal the revival of bullish momentum.
The global crypto market cap is %1.06 Trillion, with a 5.84% jump since yesterday. Meanwhile, the total crypto market volume is $71.87 Billion, showing a 72.8% rise.
Top Gainers and Losers
Source- Coin360
Among the top 100 cryptocurrencies by market cap, the Aptos and Optimism tokens showcased the highest gain, where the APT price rose 37.16% to reach the $12.91 mark, while the OP price increased 18.51% to $2.33. On the other hand, Frax Share and Rocket Pool tokens are top losers, with FXS price is 2.47% to reach $10.75, while RPL price loss at 21% to reach $36.42.
Bitcoin
Source- Coinmarketcap
Following an exceptional rally in the first two weeks of 2023, the Bitcoin price went sideways below the $21600 resistance. Thus, earlier this week, the coin price witnessed a short consolidation between the $21600 and $20400 barriers.
However, this short break allowed the BTC price to neutralize excess buying and replenish the bullish momentum. As a result, this coin price rose 12.6% in the last three days and reached the $23220 mark.
Source- Tradingview
Moreover, this price jump hints at the resumption of prior recovery and recently breached a local resistance of $22600. If the daily candle closes above the mentioned resistance, the accelerated bullish momentum will drive the BTC price 6-8% higher to hit $24700-$25000.
Conversely, if the Bitcoin price fails to sustain above $21500 in the coming week, the bullish momentum will weaken.
Ethereum
Source- Coinmarketcap
Similar to Bitcoin, this altcoin went sideways above the breached resistance of $1500, trying to stabilize the aggressive buying in the market. Furthermore, the post-retest rally surged the price 10% higher to hit the neckline resistance of the rounding bottom pattern.
By press time, the ETH price trades at $1657 and challenges the neckline resistance($1660) of a rounding bottom pattern. However, the daily chart shows a Doji candle indicating uncertainty among market participants.
Source-Tradingview
Anyhow, if the Ethereum price breaches the $1660 resistance, the triggered bullish pattern will encourage buyers to rally further. As per the technical setup, this pattern completion could bolster coin price to surpass $2000.
Conversely, the failure to break the $1600 barrier will weaken the bullish thesis.
- Binance to Compensate Users After Ethena’s USDe Depeg During Crypto Market Crash
- Tom Lee’s Fundstrat Predicts Ethereum Rally to $5,500 Following ETH ‘Bottom’
- Is the Bitcoin Top In? Raoul Pal Signals Higher Liquidity Cycle Despite Market Selloff
- Expert Says XRP ETF Approval Is ‘Getting Close’ As Issuers File Amendments
- Hyperliquid DEX Outperforms Top Crypto Exchanges Coinbase, Binance, Robinhood With Zero Downtime
- PEPE Coin Price Reenters Historical Demand Zone as Whales Accumulate $5M— Can It Repeat Its 123% Rally?
- Bitcoin Price Prediction as Trump’s Tariff Shock Triggers $19B Liquidation
- Can $TAPZI Reach $1 In Q1 2026?
- Here’s Why XRP Price May Have a Zcash-Like Surge
- $TAPZI Price Prediction: What’s Ahead of the $TAPZI token Presale?
- Cardano Price Targets $2 as Hydra 1.0 Ignites New Era of Speed and Adoption
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
