Originally published on: December 08, 2024
As Bitcoin struggles at the pivotal $100,000 level, traders are keeping a close eye on alternative cryptocurrencies like Dogecoin, SUI, Pepe, and Fantom. Despite Bitcoin’s weekly strength waning, analysts remain optimistic about its long-term prospects.
Quinten François, co-founder of WeRate, believes that Bitcoin is heading into an “euphoria stage,” potentially extending its rally for up to 12 months. However, concerns remain about the impact of venture capitalists and teams booking profits in altcoins like Dogecoin.
While Bitcoin faces resistance at $100,000, there are signs of a breakout on the horizon. If the price surpasses $104,088, we could see a surge to $113,331 and beyond. On the other hand, a drop below key support levels could signal profit-taking from bulls.
In the altcoin market, Dogecoin is showing strength within an ascending channel pattern, suggesting bullish momentum. SUI is also holding ground against resistance at $4.50, with potential for further upside if key levels are maintained.
Pepe is at a critical juncture near $0.000027, where buyers and sellers are locked in a battle for control. Meanwhile, Fantom broke above $1.23, showcasing strong buying interest on pullbacks.
Overall, the cryptocurrency market remains dynamic and full of opportunities for traders to explore. Keep an eye on these key altcoins as they navigate through the volatile landscape of digital assets.
