Crypto Markets Eye Higher Targets as Bitcoin and Ethereum Rally Continues

Bitcoin, Ethereum, Solana, and XRP have seen significant gains in September, prompting analysts to set higher price targets for the final days of the month. According to forecasts, Bitcoin could reach as high as $87,000, while Ethereum may target $2,900. Solana is predicted to hit $130, and XRP may test $1.70.

The total crypto market value has risen from approximately $2.62 trillion on September 1 to $2.87 trillion. Bitcoin's price has increased by about 0.9% over the past 24 hours, trading near $84,900.

Analyst Philakone notes that Bitcoin remains above its 50-day and 200-day simple moving averages, with resistance at $87,385. Another analyst, Martini Guy, suggests that reclaiming $85,000 is a necessary step before approaching the higher target of $87,000.

The U.S. inflation report due on September 30 could impact the continuation of this rally. In the near term, traders are watching resistance around $85,900 to $86,000 and may consider the area between $82,000 and $83,500 if Bitcoin drops below $84,000.