Originally published on: November 22, 2024
Bitcoin is on an unstoppable rally, inching closer to the $100,000 milestone as strong inflows into US spot Bitcoin exchange-traded funds support its upward momentum. With caution advised for short sellers by Material Indicators co-founder Keith Alan, the market sentiment is in the “extreme greed” category, signaling a potential risk of a short-term pullback.
Let’s take a closer look at the top 10 cryptocurrencies and their potential price movements:
Bitcoin (BTC) continues its uptrend, eyeing the psychological $100,000 level. Resistance at this level could lead to a pullback, with key support at the 20-day exponential moving average.
Ethereum (ETH) rebounded off the 20-day EMA and broke through resistance, aiming for $3,900 and $4,094 if buyers maintain control.
Solana (SOL) surged to a new all-time high above $264, with $304 in sight if buyers hold above $248.
Binance Coin (BNB) bounced off the 50-day SMA, setting sights on $667 and potentially $810 if the bullish sentiment continues.
Ripple (XRP) resumed its uptrend, targeting $1.70 but cautioning against vertical rallies’ sustainability.
Dogecoin (DOGE) consolidated in a range but could rally above $0.44 towards $0.50 and $0.59.
Cardano (ADA) breached $0.80 resistance, with $1 as the next target before a potential move to $1.25.
Avalanche (AVAX) broke above resistance, with $42 and $50 on the horizon if the bulls maintain control.
Shiba Inu (SHIB) turned up from the 20-day EMA, eyeing a breakout above $0.000026 towards $0.000029 and beyond.
TONCoin (TON) turned up from moving averages, targeting $6 and potentially $7 if buyers maintain momentum.
As the crypto market heats up, investors must remain vigilant and conduct proper research before making investment decisions. Stay informed to spot opportunities and mitigate risks in this dynamic market.
