Originally published on: November 29, 2024
As Bitcoin surpassed $98,500 on Nov. 29, the excitement among traders grew, eyeing the crucial $100,000 mark. Notably, Bitcoin whales made a significant move by purchasing 16,000 Bitcoin during a dip on Nov. 26, indicating strong bullish sentiment. With all eyes on Bitcoin, traders are also watching Ether closely, with expectations of hitting $4,000 before Jan. 20, a key milestone coinciding with President-elect Donald Trump taking office.
Bitcoin’s surge has sparked interest in altcoins, but many are still trading below their all-time highs. Altcoin analysts predict choppy waters until Bitcoin breaks the $100,000 barrier, which could unleash a new wave of growth.
The question on everyone’s mind is whether Bitcoin can sustain its rally above $100,000 or if bears will put up a fight. Additionally, will the altcoin market continue to gain momentum? Let’s deep dive into the top 10 cryptocurrencies’ charts for answers.
Bitcoin exhibited an inside-day candlestick pattern on Nov. 28, breaking above $97,208 on Nov. 29, signaling a potential rally towards $113,331 and $125,000 if the bulls maintain momentum. However, a sharp downturn post-$100,000 could signal a bear trap, with support levels at $91,129 and $85,000.
As Ether breached the downtrend line on Nov. 27, a trend reversal could be in the cards. Close monitoring of the 20-day EMA level at $3,271 is crucial, as a dip below could signal a bull trap, while a rebound could lead to a bullish run towards $3,900 and $4,094.
The altcoin landscape is brimming with action as Solana hovers near the $250 resistance, awaiting a potential breakout to retest the all-time high at $264, paving the way for further gains towards $300. Similarly, BNB, XRP, DOGE, ADA, AVAX, TON, and SHIB are all exhibiting various price patterns and resistances that could signal either a bullish breakout or a bearish reversal.
In conclusion, the crypto market remains on the edge, awaiting pivotal moves in Bitcoin and top altcoins that could shape the future trend. Stay tuned for more updates on the price swings and market analysis of these digital assets.