The general cryptocurrency market could see a bullish weekend as the prices of most cryptos rise
The cryptocurrency market started the week on a positive light and is expected to continue through the weekend. Bitcoin climbed above the $ 46,000 mark earlier this week before retreating towards the $ 45,000 mark in the middle of the week. However, it looks like it will rise above the $ 47,000 level as bullish patterns appear in the market.
Litecoin is one of the top performers this week with prices up over 25%. It could be prepared for more gains if it can maintain current momentum. Uniswap remains one of the top ten cryptocurrencies by market cap and could continue its rally over the weekend.
The market’s near-term expectations are high and prices could skyrocket in the coming hours and days.
BTC price outlook
Bitcoin has passed the $ 46,000 mark again as the BTC / USD 4-hour chart shows a bullish trend in the market. If Bitcoin manages to stay above the $ 46,000 level, it could continue its upward move and target the next major resistance level at $ 47,500. An extended rally could bring the $ 50,000 resistance level into focus.
BTC / USD 4-hour chart. Source: Coinlyze
However, if it fails to break the $ 47,500 mark, the $ 44,000 region of support could come into play. The bulls successfully defended Bitcoin’s price above $ 45,000 over the past week and may do so again this weekend.
LTC price outlook
Of the three cryptocurrencies, Litecoin was the top performer this week, rising over 25% to currently over $ 180. The LTC / USDT 4-hour chart is the most bullish of the three and Litecoin could soon test the resistance level at $ 190 if the market trend continues. In the event of a prolonged market rally, LTC could hit the $ 200 mark for the first time in months.
LTC / USDT 4 hour chart. Source: Coinlyze
However, should the bears regain control of the market, the first focus would be the support level at $ 178. The support level at USD 169 should be able to contain any further downward movement unless there is a massive sell-off in the market over the weekend.
UNI price outlook
Uniswap is one of the top ten largest cryptos by market cap, and its price has increased over 20% in the past seven days. The UNI / USD 4 hour chart is bullish like the others and Uniswap could soon cross the USD 31 resistance point if the current trend continues. Further upward movement from the broader market could allow UNI to test the major resistance level at $ 35 over the weekend.
UNI / USD 4 hour chart. Source: Coinlyze
However, should UNI fail to cross the $ 31 mark, the support level at $ 27.50 could come into play over the weekend. The main support level at $ 25.27 could limit further downward movement in the event of a prolonged market sell-off.