Bitcoin and Ethereum Analysis 05/07/2021: Altseason Red Hot
As Bitcoin struggles in the $ 55,000- $ 57,000 range, altcoins are performing quite spectacularly.
Proof of this is Ethereum, which yesterday marked its 10th consecutive day making a new all-time high.
However, after touching the $ 3,600 it returned to have a setback that has it between 3,300 and 3,400 dollars.
Let's see what will happen this weekend, in my new analysis for Cryptocurrency.
Bitcoin
Bitcoin remains in the range between $ 55,000 and $ 58,000, giving rise to the great movement of altcoins.
The bulls intend to maintain the 56,000 and 58,000 dollars and, if they break the next one, the resistance would be for the 60,000 and 62,000 dollars.
For their part, the bears seem to have the upper hand at the moment, managing to push BTC to $ 55,100 levels.
From breaking the $ 55,000 strongly, the next support is the $ 52,000 and $ 50,000.
Ethereum
Ethereum, meanwhile, set an all-time high for the 10th consecutive day, then fell to $ 3,400.
The bulls want to continue with their rally and will first seek to recover the 3,500 / 3,600 dollars, to go for new all-time highs, between 3,700 and 3,800 dollars.
The bears for their part, still weak, are trying to push ETH below $ 3,400 and $ 3,200. If successful, the stops would be $ 3,000 and $ 2,500.
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Analysis by analyst César Quintero for Cryptocurrency