Analyst sets key conditions for Bitcoin and Ethereum to rocket
In spite of Bitcoin (BTC) and Ethereum (ETH) surrendering $44.8 billion and $8.9 billion of their market capitalization over the past 24 hours, through September 28, respectively, Aksel Kibar, a former fund manager, has cautioned against these cryptocurrencies falling below and hovering near their May 2026 peak.
Kibar affirmed that Bitcoin and Ethereum need to move quickly away from their current levels to continue their recent bull market.
“If these are short pullbacks to broken resistance levels, price needs to quickly move away from current levels, resulting in strong weekly closes,” Kibar documented on September 27.
He marked a major weekly support level at approximately $82,800 for Bitcoin. Furthermore, this chartist emphasized that this liquidity zone was previously a strong resistance level since BTC capitulated to $60,000 in February, early this year.
BTC/USD daily chart. Source: TradingView
Comparably, Kibar argued that Ethereum’s price has broken its May 2026 apex; thus, it must rocket over the coming weeks to maintain its recently established uptrend. Moreover, he highlighted that ETH has experienced a robust rebound from its perceived 2026 bear market bottom at about $1,510.
ETH/USD daily chart. Source: TradingView
As such, Kibar specified that Ethereum price must hold above its support range between $2,550 and $2,350 to register more weekly upsides.
Bitcoin and Ethereum price performance
After opening Monday’s Asian session with chopping, Bitcoin price has declined nearly 2.27% over the past 7 days, trading at $82,700 at the time of writing.
Bitcoin chart for seven days. Source: Finbold
As a result, Bitcoin has a market capitalization of roughly $1.7 trillion. Notably, BTC’s 24-hour trading volume is up over 81% to $30.85 billion, as per metrics from CoinMarketCap.
Ethereum chart for seven days. Source: Finbold
On the other hand, ETH price has retraced 2.72% during the same period, hence trading at $2,645 at the time of publication. Meanwhile, the crypto asset saw its 24-hour trading volume surge by 97.29% to $12.33 billion at press time.
Featured image via Shutterstock
