The cryptocurrency market is in loftier spirits on Oct. 29 after bulls managed to lift the price of Bitcoin (BTC) dorsum near the $63,000 support zone and Ether (ETH) has established a new all-time high at $4,460.

ETH/USDT iv-hour chart. Source: TradingView

Here's what anlaysts are saying about the marketplace now that Bitcoin is finding back up to a higher place the $threescore,000 level and Ether looks to enter toll discovery.

Bulls think BTC could hit $90,000

The bullish moves seen in BTC and Ether caused a moment of reflection for independent market analyst Crypto_Ed_NL, who tweeted that information technology "seems I was not bullish enough at $forty,000" when a target of $73,000 was given.

BTC/USD 1-solar day chart. Source: Twitter

After taking the recent moves into account, the analyst indicated that the "target moved up to $xc,000 and after a correction, nosotros should run across $100,000."

Regarding exactly how this scenario would affect the price of Ether, Crypto_Ed_NL posted a follow-upward tweet, which outlined how the cost action might play out, and he gave a toll target above $6,000.

ETH/USDT 1-day chart. Source: Twitter

Crypto_Ed_NL said,

"No demand to put in the usual disclaimers. I'one thousand wrong when I'm wrong only I will be very surprised existence wrong with this."

$85,000 is the adjacent major hurdle for BTC

A more in-depth wait at the cost action for Bitcoin was provided past crypto market place intelligence firm Decentrader, which noted that last calendar week's 14% pullback in the cost of BTC from $67,000 was "due to token-margined leverage traders aggressively longing the final run-up to the all-time high and cursory breakout levels."

According to Decentrader, both longs and shorts felt the pain of the recent price drib later on a total of $120 one thousand thousand worth of brusque positions were liquidated on October. xx. The "late-longs" also suffered $100 million in liquidations the following day.

BTC/USD 1-day chart. Source: Decentrader

Now, the price of BTC has "pulled back to the failed rally signal from May this year," which is now "acting back up following the failed breakout."

Decentrader said,

"As a higher fourth dimension frame indicate of bullish trend continuation, nosotros are about to come across the 128DMA cantankerous over to a higher place the 200DMA. In previous balderdash markets, the cost has seen sustained rally's subsequently such crossovers. On a technical, market cycle and on-chain footing, we continue to believe that the next major area of difficulty for BTC will non hit until we approach $85,000 – $90,000."

Related: Biggest Bitcoin fund in the world could go ETF by July as GBTC nears $40B AUM

Ether ready for a continuation to $5,000

1 possible scenario for how the price action for Ether could play out in the near time to come was provided by markets analyst and Cointelegraph contributor Michaël van de Poppe.

ETH/USDT ane-day chart. Source: Twitter

Poppe said,

"Good S/R flip and probably gear up for continuation towards $5,000."

The overall cryptocurrency market cap at present stands at $2.666 trillion and Bitcoin'southward dominance rate is 44.2%.

The views and opinions expressed hither are solely those of the author and exercise not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves take chances, you should comport your own research when making a determination.