BTC, the world’s largest cryptocurrency, is currently trading well above $19K. This level is the last stop before hitting $20K and setting a new all-time high. As of this article’s writing, the king coin is up 4% over the past 24 hours to trade at $19,241.
BTCUSD Price Chart by TradingView
BTC has over the past few weeks experienced a bull market explosion. Since the start of this month, the flagship crypto has added another 40% to its over 150% year-to-date returns.
Chances that BTC/USD will go fully parabolic and enter price discovery any moment now are high since the pair faces no further resistance above the former peak.
The digital asset is truly defying gravity, and the entire world is watching crypto again. If Bitcoin trades at a price beyond $20K, many investors will view that as the final signal that the bull market has begun.
ETH Prepares for Another Leg Higher
Ethereum has settled nicely above the $600 resistance level after clearing this level in yesterday’s late sessions. Bullish news from Vitalik Buterin over the imminent rollout of the first stage of the highly anticipated ETH 2.0 upgrade at the start of December fuelled the coin higher in today’s sessions.
ETHUSD traded to a new multi-month high at $621 before retracting lower to its current price of $608.
ETHUSD price by TradingView
As long as the world’s top altcoin trades above the $600 level of support, there is a high probability that it could surge higher above $625 in the coming sessions.
Interestingly, Ethereum’s rally coincided with the XRP price exploding by up to 40% in the past 24 hours. The altcoin traded as high as $0.92 on Coinbase before correcting lower to its current price of $0.676 as per data from CoinMarketCap.
Ethereum Faces No Intense Resistance On Its Toward $800
Selling pressure may be temporarily hampering Ethereum’s climb in the near-term, but one analyst believes that the asset could embark on an impressive rally soon.
Analyst Smart Contractor explained on Twitter that once the $600 resistance is shattered, the second-largest crypto may see its next leg higher toward $800.
“I repeat, there is no resistance on ETH from here until $800, literally nothing, that is all, “he emphasized.