Ethereum (ETH) Price Ready For Break Out, While Bitcoin (BTC) Price To Hit $28K in August
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The cryptocurrency market was able to retain gains on Monday despite the weekend’s thin trade because investors appeared to have recovered from Friday’s unexpected strong jobs report.
The fact that Bitcoin maintained its footing at over $23,000 throughout the weekend suggests that the major cryptocurrency is still very much riding the underlying bullish wave. After a less volatile week, here are the targets for some major coins.
According to a well-known cryptocurrency analyst, the top smart contract platform Ethereum is about to experience a breakout surge. The crypto analyst known as Kaelo said that Ethereum has broken out of its diagonal resistance versus Bitcoin (ETH/BTC), and the pair appears ready for a new leg up.
“ETH/BTC looks ready to finally rip higher… This is bullish,” he wrote.
At the time of writing, ETH is trading at $1,712 and has increased by more than one percent in the last 24 hours.
He is also optimistic about Binance’s utility token, BNB. The crypto expert believes that BNB is strong as it records a new all-time high against Bitcoin. BNB has gained more than four percent in the last 24 hours and is trading at $325.
Looking at Bitcoin specifically, Kaleo projects that the king of cryptocurrencies will have a small decline to roughly $22,000 before making a rally to his goal price of $28,000. “Gonna happen but you wouldn’t believe it,” he said. Bitcoin seems to be stuck slightly above the $23,000 mark with no significant upward movement.
Peer-to-peer payments technology Litecoin is the final cryptocurrency asset that the trader is interested in (LTC). LTC seems optimistic when compared to Bitcoin (LTC/BTC), since the pair has recently broken clear of significant resistance, according to Kaleo.
He asserts that one of the market’s scariest trends is how bullish Litecoin appears to be. LTC/BTC broke out on a multi-year high timeline, flagging above it on a low timeframe.
