Nazia Saeed
- Bitcoin targets $125,000 as it tests triangle resistance near $118,500
- Ether breaks above $3,750, hitting its highest level since December 2024
- Traders expect breakout or breakdown soon as BTC price tightens near $117,000 support
Bitcoin (BTC) and Ether (ETH) are heading into the weekly close with bullish pressure, as traders watch closely for a breakout from key resistance levels. BTC hovered around $118,500 on Sunday, while ETH surged to a seven-month high of $3,750, marking its strongest level since December 18, 2024.
Market analysts suggest Bitcoin is on the verge of a “big move”, with a triangle consolidation pattern nearing completion. Popular trader Marcus Corvinus posted on X that BTC is “moving inside a triangle pattern and staying above strong support around $116,000 to $117,000.”
Bitcoin is getting ready for a big move, Corvinus wrote. If it breaks out, the price could rally to $125,000. But if it breaks support, we could drop to $111,000 or lower. Stay ready.
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Altcoin rotation accelerates as BTC range holds
Technical analyst Rekt Capital echoed the sentiment, noting Bitcoin’s continued range-bound consolidation is helping money rotate into altcoins.
“Break this Lower High and Bitcoin will challenge the Range High for another breakout attempt,” he commented, highlighting key levels on the daily chart.
While BTC remains just below its all-time high, Ether has taken the lead. ETH/USD has now fully resynchronized with its $2,200–$3,900 macro range, according to one analysis on X tracking price action since late 2023.
Crypto analyst Michaël van de Poppe called the ETH rebound “absolutely phenomenal,” saying ETH has returned to December highs ahead of most altcoins.
That means there’s still a lot of upside to come, he noted. Most altcoins are still 50–80% below their December 2024 levels, which presents major opportunity.
ETH traded above $3,745 on Sunday, suggesting potential for further upside if altcoin momentum continues into next week.
As BTC consolidates and altcoins begin rotating upward, traders expect a decisive move soon. Whether that breakout is upward to $125K or downward toward $111K remains to be seen, but the market is watching closely.
