Originally published on: November 24, 2024
The recent pullback of Bitcoin below $96,000 may have short-term traders locking in profits near $100,000. However, corrections are a natural part of any bull market, presenting an opportunity for experienced traders to buy the dip.
The prediction markets are buzzing with optimism as Bitcoin is projected to break above $100,000 in 2024. According to data from Kalshi, there’s an 81% chance of Bitcoin hitting $100,000 or higher by December 31. The median forecast even suggests Bitcoin could reach $122,000 by the new year.
Georgii Verbitskii, the founder of TYMIO decentralized finance platform, believes Bitcoin could rally between $100,000 and $120,000 by the end of 2024 or early 2025. As more traders join the market, Verbitskii anticipates Bitcoin surging to $180,000 by the end of 2025.
Amidst all this excitement, let’s take a look at the top 5 cryptocurrencies poised for a strong performance:
Bitcoin (BTC):
– Facing resistance near $100,000 but bulls still in control
– Support levels at the uptrend line and 20-day EMA
– Upside targets at $113,331 and $125,000
BNB:
– Bullish momentum halted near $667 resistance
– Critical support at 20-day EMA ($619)
– Upside targets at $722 and $810
Avalanche (AVAX):
– Bulls facing selling pressure post-breakout
– Support at the resistance line and 20-day EMA
– Upside targets at $50 if bulls regain control
NEAR Protocol (NEAR):
– Dip to 20-day EMA ($5.48) possible after breakout failure
– Support levels at 20-day EMA and $4.86
– Upside targets at $8.58 and $9.01 if bulls regroup
OKB:
– Forming higher highs and higher lows for trend change
– Resistance at $56.74 being tested by bears
– Support at $48 and 20-day EMA
As Bitcoin consolidates, altcoins like BNB, AVAX, NEAR, and OKB present exciting opportunities for traders looking to capitalize on potential buying sprees. Stay tuned for market developments and make informed investment decisions to ride the next wave of crypto growth.