Originally published on: November 15, 2024
Bitcoin bulls resumed purchasing on Nov. 15, pushing the price near $89,500 after a short break. In a bullish prediction, MicroStrategy founder Michael Saylor believes Bitcoin is unlikely to drop to $60,000 as some analysts suggest and expects it to reach $100,000 before the year ends.
VanEck’s head of digital assets research, Matthew Sigel, also shares a bullish sentiment, foreseeing new all-time highs for Bitcoin in the next two quarters and a potential price target of $180,000 next year.
While the long-term outlook remains positive, volatility is inevitable in a bull market. Real Vision chief crypto analyst Jamie Coutts highlights that a strong US dollar may not bode well for Bitcoin in the short term, urging caution despite long-term optimism.
As the market remains uncertain about Bitcoin’s next move, it is essential to assess the performance of other major cryptocurrencies. Let’s dive into the price analysis of the top 10 cryptocurrencies, including Bitcoin, Ethereum, Solana, Binance Coin, Dogecoin, XRP, Cardano, Shiba Inu, Toncoin, and Avalanche.
Bitcoin formed an inside-day candlestick pattern on Nov. 14 and 15, signaling indecision. However, moving averages and the RSI favor buyers, with a potential uptrend toward $100,000 if the $93,265 level is breached.
Ether’s pullback to $3,028 has found support, with resistance at $3,800 and $4,084 if the downtrend line is surpassed. Solana, Binance Coin, Dogecoin, XRP, Cardano, Shiba Inu, Toncoin, and Avalanche are also showing key support and resistance levels in the current market scenario.
As the crypto market continues to evolve, staying informed and monitoring key price levels is crucial for investors and traders to make informed decisions. Will Bitcoin reach $100,000, or will a correction occur? Only time will tell as the market dynamics unfold.
