On Thursday, September 2, Ethereum broke its crucial $3,400 resistance zone which made most altcoins up. Now, analysts believe that this could signal Bitcoin’s raised over $50K.
Ethereum soared 9.87% to $3,752.45 with a 24-hour change of $337.10. Currently, it has a market capitalization of $439.74 billion.
Additionally, it has a 24-hour volume of 1.76 billion with a low of $3,411.28 and a high of $3,841.69.
Moreover, Bitcoin spiked 6.07% to $49,597.67 with a 24-hour change of $2,838.60 after crashing to $46K yesterday.
At the moment, it has a $932.62 billion market capitalization. Also, it has a 24-hour volume of $1.16 billion with a low of $46,713.56 and a high of $49,880.44.
Based on analysts’ data, the world’s largest cryptocurrency showed a downturn since its recent high at $50,300.
However, it had significant support at the level of $46,400, which prevented further fall to the level of $44,000 and below.
If so, Bitcoin’s free fall could harm the entire crypto market and pull it all down which could lead Ethereum under the $3,400 level.
On the other hand, if BTC stayed between $44,000 and $51,000 then altcoins will continue to rally.
Meanwhile, the entire crypto market was strengthened since Ethereum broke over its crucial $3,400 level.
Right now, the difference between Bitcoin and Ethereum is that the latter is currently skyrocketing while the former is still on the sideways.
An analyst stated that if Ether sustained its current momentum, there is a high probability that will proceed to its all-time highs.
Crypto Prices Up as Ethereum Rises
Furthermore, Ethereum rose and proceeded towards all-time highs which drove crypto prices up.
Polkadot smashed 6.62% to $32.23 with a 24-hour change of $2.00. It has a market cap of $35.11 billion and a 24-hour volume of $2.62 billion.
Likewise, Chain Link soared 7.36% to $28.94 with a 24-hour change of $1.98. It has a market cap of $28.94 billion and a 24-hour volume of $1.72 billion.
The same with Ethereum Classic which spiked 7.43% to $67.63 with a 24-hour change of $4.68. It has a market cap of $8.76 billion and a 24-hour volume of $5.95 billion.
Consequently, Litecoin jumped 5.69% to $182.03 with a 24-hour change of $9.79. It has a market cap of $12.46 billion and a 24-hour volume of $2.70 billion.
Lastly, Uniswap gained 3.90% to $30.39 with a 24-hour change of $1.14. It has a market cap of $30.39 billion and a 24-hour volume of $841.54 million.