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Bitcoin and altcoins have seen a significant rebound in the last 24 hours after experiencing a recent wave of decline.
Bitcoin ($BTC) is once again approaching the $70,000 mark, while Ethereum ($ETH) has surpassed $2,000.
One analyst said these gains could continue, but would likely be short-lived if optimism in the market began to grow as one analyst predicted that “these gains may not last long” and were probably only temporary.
In his latest YouTube video, experienced analyst Gareth Soloway said that the uptrend could continue.
His predictions are that Bitcoin would rise to $80,000–$85,000, Ethereum could go up 30 percent, and if it goes above $2, $XRP might surge significantly.
- Bitcoin ( $BTC ):
Bitcoin has re-bought strongly after its sharp decline towards $60,000 to become the most powerful . The analyst said this recovery has’made Bitcoin’s classic bullish consolidation pattern of the past’ with its “bullish consolidation patterns” in it.
At this point, the analyst predicts that Bitcoin is more likely to reach $80,000 before $50,000 in the short term.
A strong consolidation after the decline, a large sum of $60,000 to $70,000 and extremely negative market sentiment as harbingers of ‘an increase in sales’ are expected for the analyst. The analyst says that such situations could lead to the closing of short positions in Bitcoin and a rise in bitcoin’s “up” trend.
The analyst said this is a target range of $80,000 to $85,000 at this stage, but warned that “this recovery and expectations do not necessarily mean ‘bull market”.
- Ethereum ( $ETH ):
The analyst noted that Ethereum showed great strength, rising above $2,000.
This recovery has shaped the bullish flag pattern of Ethereum, analyst said. So this means there is a short-term upside of 27% to 35% for $ETH.
But if this trend continues, the analyst says that Ethereum could soon become more advanced to $2,600 and $2.800 level unless it’s on the rise of this upward trend at this stage.
However, if $ETH reaches this region, it may encounter strong resistance and selling pressure.
- $XRP :
However, the analyst, who says that $XRP is more vulnerable than Bitcoin and Ethereum, believes it needs to go beyond $2 for strong upward momentum.
A “key support line” is $XRP, but a recovery can still be made, and identified resistance levels The analyst noted that the level of resistance was below an important supportline.
“First resistance at $1.60 and $1.90
Stronger second resistance around $2.00”
At last, analyst added that he thinks $XRP could see a much larger surge if it breaks above $2 and keeps up that level.
*This is not investment advice.
Thanks for reading Analyst Issues Bullish Warning This Time! Shares Price Expectations for Bitcoin (BTC) Ethereum (ETH) and XRP!
