Bitcoin surges above $21K, Ethereum, Dogecoin rally intact – analyst says this could ‘wake up some dormant long-term bulls’

Major coins traded in the green on Sunday, buoyed by renewed investor confidence that the Federal Reserve is successfully managing inflation without pushing the economy into recession.

cryptocurrency Gain (% in 24 hours) Price (Filed at 8:32 PM EST)
Bitcoin +2% $21,118.80
Ethereum +2.7% $1,564.75
dog coin +2.4 $0.08

What happened: bitcoin BTC/USD, Ethereum ETH/USD And other major cryptos continue to see an uptick in weekend trading, recorded at 8:32 p.m. EST.

Top Gainers (24h) profit worth
Frax Shares +26.1% $8.45
decenterland +20.2% $0.70
cello +19.6% $0.74

Bitcoin It has had a remarkable run this year, trading at $21,118 – up 25% on the year, mainly due to its meteoric rise since last Tuesday, when it traded just above the $17,400 mark. Ether followed a similar pattern to bitcoin this weekend, reaching a two-month high of $1,550 before falling slightly. ETH was trading at $1,564 at the time of writing.

meme cryptocurrency dog coin doge/usd was trading at $0.08, struggling to reach $0.10, up 2.38% in the last 24 hours.

US equity markets will be closed on Monday in honor of Martin Luther King Jr. Day – a holiday in honor of the late respected civil rights activist. There was a slight rise in the major indices before the close of trading on Friday. technology-heavy indices such as nasdaq And S&P 500which has a strong technology component, registered gains of over 5% and 4%, respectively.

See more, Best Crypto Day Trading Strategies

“Unless we hear some strong aggressive push from the Fed or if commodity prices continue to rise, crypto traders should not be surprised if bitcoin is able to extend its recent gains. The $18,500 level is a key resistance for bitcoin. and if it can hold above that level in the next few sessions, it could wake up some dormant long term bulls,” said edward moyasenior market analyst Oandain a note seen by benzinga on Friday.

crypto analyzer Michael van de Poppe Patiently waiting for BTC to reach $21,299 before dropping to $20,586. In a recent graph, Poppe tweeted, that the trend for the coming months is still up, with altcoins gathering more volume to trade. He remarked that when another short squeeze occurs, it will be time to be punished by the longs.

Despite Naysayers, Crypto Analyst ‘Kaleo’ Sticks to his prediction that ETH will reach the $2500 level.

Read next: Crypto Analyst Issues Bitcoin, Ethereum Warning After BTC Explodes Over $20K: ‘There’s a Problem for Bulls’

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