Analyst says where Bitcoin, Ethereum and BNB will go over the weekend

Analyst Rakesh Upadhyay shared his predictions on the prices of the main cryptocurrencies, including Bitcoin, Ethereum and BNB, amid a scenario of uncertainty in the crypto market.

According to Upadhyay, Bitcoin continues to trade within a wide price range, indicating indecision regarding the next trend movement.

However, a recent move of $1.3 billion in USD Coin (USDC) to Coinbase by whale addresses has analysts excited, raising expectations that the funds will be used to purchase Bitcoin and Ether.

Furthermore, according to him, data shows that large investors are not limited to just the two main cryptocurrencies in terms of market capitalization.

According to James Butterfill, head of research at CoinShares, a recent report based on a survey of 64 institutional investors revealed that 15% of them invested in Solana, while none of them held Solana in the January survey.

In a recent interview with “The Wolf Of All Streets” podcast, Mark Yusko, CEO of Morgan Creek Capital, stated that around $300 billion of baby boomer wealth could migrate to digital assets in the next 12 months, which could boost the market value of cryptocurrencies to US$6 trillion.

Bitcoin, Ethereum e BNB

Bitcoin Price Analysis: Given this macro view, the analyst points out that Bitcoin has faced difficulties in overcoming the crucial resistance around US$60,775. However, the lack of selling at lower levels suggests that buyers are still active.

“A move above the 50-day simple moving average could take the price to $73,777. Meanwhile, a break below $59,600 could open room for a drop to $54,298,” he said.

Ethereum Price Analysis: According to the analyst, Ethereum has been oscillating between the 20-day exponential moving average and horizontal support around $3,056. A break above the 50-day simple moving average could take the price to $3,679, while a move below $3,056 could signal bear dominance and lead to a drop to $2,700.

BNB Price Analysis: He points out that BNB has struggled to overcome resistance around $635, but buyers’ lack of rush to exit the market suggests a possible return of bulls.

“A move above $635 could take the price to $692 and eventually $775. On the other hand, a drop below the moving averages could indicate an extension of sideways action in the short term,” he concludes.