Originally published on: November 25, 2024
As Bitcoin fails to breach the $100,000 mark, a pullback is underway. However, significant inflows into Bitcoin ETFs and MicroStrategy’s massive Bitcoin purchase indicate strong market interest.
The S&P 500 Index hits a record high, but bearish pressure looms. Meanwhile, the US Dollar Index faces stiff resistance at 108.
Here’s a closer look at some top cryptocurrencies:
Bitcoin (BTC) is experiencing profit-taking, leading to a pullback to the uptrend line. Critical levels to watch are $100,000 and $89,213.
Ethereum (ETH) sees buyers stepping in after a recent dip, aiming for a breakout above $3,900.
Solana (SOL) faces a crucial support test at the 20-day EMA, with potential upside towards $304.
Binance Coin (BNB) struggles to sustain above $667, signaling a lack of demand at higher levels.
Ripple (XRP) shows volatility, with a battle between bulls and bears likely to range between $1.27 and $1.63.
Dogecoin (DOGE) eyes a break above $0.44 for a rally towards $0.59.
Cardano (ADA) retraces to the 50% Fibonacci level, consolidating within a range of $0.92 to $1.15.
Avalanche (AVAX) rebounds off support at $45.27, aiming for $51 and $60 on the upside.
Stay informed on the latest market trends by subscribing to our Markets Outlook newsletter for valuable insights. Remember, all investments carry risks, so do your due diligence before making any decisions.