Bitcoin and Ethereum Price Forecast – Prices Surge Higher

The BTC prices finally had the breakout that the bulls were waiting for eagerly. The prices pushed through $7000 and in a further boost, the prices did not stop there and the surging demand pushed the prices through the strong resistance region of $7400 as well and it now trades above the $7800 region as of this writing and it appears as though the bulls are in firm control. We had been seeing some consolidation happening in the market over the last week or so and we had also been saying that this consolidation could lead to a large breakout in either direction. We had also said that the bulls should be looking to bring in a breakout soon else some tiredness is likely to set into the markets and this would lead to a sell off from the weak holders.

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Prices Surge Through $7400

But thankfully for the bulls, they did manage to generate the momentum and the demand that they needed and this has helped the prices to shoot higher and continue to trade with a strong momentum. The prices continue to trade near the highs which is again a good sign for further gains in the near future. Once the prices are clear of the $7800 region, we should see the prices progress through the $8000 region and once this happens, we should see more buying come in and more momentum being generated in the short term.

The ETH prices have also gained a lot of momentum over the last few days as we are seeing the prices headed towards the $500 region as of this writing. It looks only to be a matter of time before that region is cracked and this bodes well for the short term trend.

Forecast

The fundamentals remain the same for the rest of the day and hence we believe that the momentum will be carried over to the weekend. With the momentum and the volatility firmly behind the bulls, we should see the prices heading even higher in the coming days.