The crypto space is believed to have risen above the bearish trend as the prices of Bitcoin and popular altcoins have raised by a decent margin. The technicals also suggest a massive upswing could be lined up as the bulls appear to be well in the position. A widely followed crypto analyst, Micheal van de Poppe hopes the crypto space could gear up for a massive rally in the coming year.
The analyst expects that the Bitcoin price is due for a giant move above $42,000 and that may reach $50,000 by the mid of 2023 based on key Fibonacci levels.
“Relief rally targets for Q2 2023 on Bitcoin,”
The Bitcoin price is trading above $17,200 undergoing a slight rise of more than 6%. The analyst believes the price needs to rise beyond $18,400 to mark a notable upswing beyond $25,000. This may pave way for the token to rise close to $30,000.
Considering Ethereum, the analyst says, it is likely to set up a bullish confirmation but only after sustaining above $1200 support until the weekend.
“Ethereum didn’t hit target price and, if I were looking for longs, didn’t reach optimal entry zone. Still waiting for continuation, which seems likely after this breakout,”
Presently, the Ethereum (ETH) price is trading around $1288 with a notable upswing of 2.73% in the past 24 hours and 10.07% in the last 7 days.
Coming to Cosmos, Micheal van de Poppe hopes the price may continue ranging high as long as the token trades above $10.
“This one looks a bit in the middle. Good resistance to support flip and reclaim $9.40, but nothing strong further. Prefer to hold around $10 for continuation and then I’d be looking at $12.25 next,”
At the time pf composing, the Cosmos (ATOM) price is around $10.41 with a jump of 3.10%in the past 24 hours.