Originally published on: December 08, 2024
Bitcoin is currently locked in a tight struggle between bulls and bears near the $100,000 mark. Analysts are closely monitoring the cryptocurrency’s performance as it consolidates at this key level. Despite the near-term uncertainty, experts remain optimistic about Bitcoin’s long-term prospects.
In a recent post, WeRate co-founder Quinten François suggested Bitcoin is entering a euphoric stage that could last up to 12 months before reaching a cycle top. Meanwhile, altcoins like DOGE, SUI, PEPE, and FTM are also capturing traders’ attention.
With Bitcoin’s price action in focus, let’s explore the top cryptocurrencies showing robust chart structures and potential for growth.
Bitcoin (BTC) Analysis:
Bitcoin is facing significant resistance at the psychological barrier of $100,000, but bullish momentum remains strong. A potential breakout above $104,088 could propel Bitcoin towards $113,331 and $125,000 levels. On the downside, the 20-day EMA at $95,285 serves as crucial support.
Dogecoin (DOGE) Updates:
DOGE is trading within an ascending channel pattern, indicating a bullish trend. A breakout above $0.48 could push DOGE towards $0.60, while a drop below the channel’s support line at $0.30 may lead to a bearish correction.
Sui (SUI) Price Forecast:
SUI faces resistance near $4.50, with bulls holding their ground against bears. A break above $4.50 could trigger an uptrend towards $5.31, while a decline below the 20-day EMA at $3.66 might signal profit booking by bulls.
Pepe (PEPE) Technical Analysis:
PEPE is testing resistance at $0.000027, with buyers showing strength. A breakout above this level could drive PEPE towards $0.000044, while a drop below the 20-day EMA at $0.000021 may lead to bearish pressure.
Fantom (FTM) Price Action:
FTM broke above the $1.23 resistance level, indicating strong buying interest. Further upside towards $1.68 and $2 is possible if bulls can maintain momentum. Key support at $1.23 needs to hold for the bullish trend to continue.
As Bitcoin hovers near $100,000, traders are closely watching DOGE, SUI, PEPE, and FTM for potential opportunities. Stay tuned for more insights and analysis in the ever-evolving crypto market.