BitcoinPrice Analysis

Bitcoin Price May Hit $50K This Week, Ethereum & Solana May Also Explode Soon

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The past trading week was pretty exhaustive as the Bitcoin price slumped a couple of times and had no time to rebound. The price during the weekend experienced a pretty uptrend with a healthy weekly close. However, the BTC price can record an uptrend and close the monthly and quarterly trade on a bullish note. 

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The upcoming week is expected to get some higher numbers for the asset as the price could experience an uplift soon. A popular analyst predicts fixes targets for the BTC, ETH and SOL price for the upcoming week. And according to an analyst Galaxy, Bitcoin price could hit $45,000 in the upcoming week.

Also Read: Alonzo Fails as a Catalyst for Cardano Price! What’s Next for ADA Price?

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Currently, Bitcoin price is still swinging within a descending parallel channel but approaching the upper resistance zone very fast. On the contrary, the RSI appears pretty bullish as it’s following a healthy uptrend. After bottoming hard below 20 RSI has notably risen above 55 which showcases the strength in the uptrend. 

However, the analysts, also mention the targets for the other 3 altcoins, that he believes is achievable in the upcoming month. The ETH price that is trending around $3000 could jump around $3300. Solana price is also expected to march above $150 and DYDX price could hit $25 soon.

Collectively, the Bitcoin price could witness a notable jump soon but the question is whether it can sustain above $45,000. As the strong resistance zone lies around $47,000, no short-term jumps below this level can validate an uptrend. Therefore, in order to maintain the uptrend, the BTC price needs to break the channel and propel high. 

Also Read: Is It The Right Time To Move Your Bitcoin (BTC) Holdings To Altcoins?

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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