The cryptocurrency market has experienced significant fluctuations recently and has managed to attract the attention of many investors. This volatility also affected the performance of major digital assets such as Bitcoin (BTC) and Ethereum (ETH). In this regard, analyst DonAlt shared his predictions that the rise in Bitcoin price will continue.
The leading digital asset Bitcoin is currently trading in a wide price range between $32,000 and $60,000, the analyst known for his successful predictions said. stated. The lower bound of $32,000 shows that BTC bulls are firmly in control of the market, with Bitcoin trading above this range. This indicates that Bitcoin’s current price levels are unlikely to bear down and we may be facing a bull market trend.
“Strong acceptance above the lower range. It doesn’t get any better than this. As long as $32,200 is maintained, people should expect nothing but massive bullish sentiment. “If we lose the lower range, we can start talking about a downtrend.”
The popular analyst had previously said that Bitcoin does not have time frame resistance as high as $60,000. At press time, Bitcoin is trading at $34,957.
DonAlt also follows Ethereum closely. According to the analyst, Ethereum appears to be performing poorly against Bitcoin, especially on the ETH/BTC ratio. The analyst supports this observation with a picture that shows a continuous downward trend.
However, DonAlt also notes that if the ETH/BTC pair manages to recover a significant price area, Ethereum will begin to re-evaluate its performance against Bitcoin. This could mean that Ethereum could experience a potential recovery.
“I would be worried if it moves above 0.06 BTC ($2,096) and not every day it moves 1%.”
At the time of writing, the ETH/BTC trading pair is trading at 0.0542 BTC ($1,894). It is down nearly 25% from 0.0723 BTC ($2,526) at the beginning of the year.
You can follow the current price movement here.