Ethereum’s new all-time high prepares ETH for 'continuation to $5,000'

[RSRS]

The cryptocurrency market is in high spirits on Oct. 29 after bulls managed to lift the price of Bitcoin (BTC) back near the $63,000 support zone and Ether (ETH) has established a new all-time high at $4,460.


ETH/USDT 4-hour chart. Source: TradingView
Here's what anlaysts are saying about the market now that Bitcoin is finding support above the $60,000 level and Ether looks to enter price discovery.

Bulls think BTC could hit $90,000
The bullish moves seen in BTC and Ether caused a moment of reflection for independent market analyst Crypto_Ed_NL, who tweeted that it “seems I was not bullish enough at $40,000” when a target of $73,000 was given.


BTC/USD 1-day chart. Source: Twitter
After taking the recent moves into account, the analyst indicated that the “target moved up to $90,000 and after a correction, we should see $100,000.”

Regarding exactly how this scenario would affect the price of Ether, Crypto_Ed_NL posted a follow-up tweet which outlined how the price action might play out and he gave a price target above $6,000.

More Information

[Noverteno]

It would be nice to see the price of Bitcoin at $ 100,000 at the end of the year, and ethereum above $ 6,000. Now we see that prices in the market are subject to great volatility. However, in general, the situation is optimistic and the forecasted rise in prices is quite probable. The systematic successful upgrade of the Ethereum network can also contribute to the price growth. It is hoped that the bullish growth this time will be no less prolonged than the previous one, which lasted six months.

[bitbit97]

I think we are about to make a final movement this year. Either we go up, or down. First weeks of November will tell the current crypto mood. If it would as it was previous year, then no doubt we will see new ATH by the end this year.