Originally published on: December 11, 2024
Bitcoin made a strong recovery on December 11, surpassing the key $100,000 level after finding support near $94,000 the day prior. The rally comes as the FedWatch Tool shows a high probability of a rate cut in the next meeting, which could bode well for risky assets.
According to Bitwise investment chief Matt Hougan and research head Ryan Rasmussen, Bitcoin could potentially reach $200,000 by the end of 2025. They also have bullish expectations for Ether and Solana, predicting prices of $7,000 and $750, respectively.
While Bitcoin’s rally faces resistance near the all-time high of $104,088, the overall outlook remains positive as the uptrend remains intact. The next key levels to watch for Bitcoin are $113,331 and $125,000.
In the altcoin space, Ethereum bounced off a crucial support level, signaling a likely move towards $4,000. XRP is correcting within an uptrend, with a target of $2.65 in the near term. Solana is showing signs of a relief rally after bouncing off a support line.
However, BNB experienced a sharp decline, but buyers are attempting to push the price back above key levels. Dogecoin also broke below a channel pattern but may see a recovery towards $0.42. Cardano faced selling pressure but found support at $0.91.
Avalanche is showing strength after a recent dip, targeting the overhead resistance zone of $51 to $56. TONcoin is facing profit booking but could rally to $7.20 with bullish momentum. Lastly, Shiba Inu is struggling to maintain gains but could see a potential climb to $0.000033.
As the cryptocurrency market remains volatile, it’s essential for traders and investors to stay informed and conduct their research before making any decisions. Keep an eye on these top 10 cryptocurrencies for potential trading opportunities.
