Originally published on: November 10, 2024
Bitcoin has been making headlines with its unprecedented climb above $81,000 on Nov. 10, leaving analysts hopeful for further gains. Tuur Demeester, a notable Bitcoin analyst, emphasized the importance of HODLing during such surges, suggesting that no impulsive actions are necessary.
Newcomers to the crypto market may ponder whether Bitcoin is becoming overpriced. However, Hunter Horsley, CEO of Bitwise Invest, reassured investors that BitcoinBTC remains distinct and tends to gain more value as its price surges.
While Bitcoin steals the spotlight, several altcoins are breaking out of their resistances, reflecting a positive shift in market sentiment. Notably, WhalePanda warned of potential retracements due to low weekend liquidity.
Bitcoin’s bullish momentum persisted on Nov. 10 as the price catapulted above $80,000, leading to speculations of a push towards the key $100,000 mark in the near future.
EtherETH also saw a significant uptrend after breaching the support line of a symmetrical triangle pattern. The breakout above $2,850 could set the stage for a rally towards $4,094, with $2,850 acting as a critical support level.
SolanaSOL emerged from its overhead resistance at $210, hinting at a possible uptrend towards $260. However, failing to close above $210 could signal a correction down to $189, necessitating cautious observation.
SuiSUI experienced a surge after conquering the resistance at $2.37, triggering excitement among traders eyeing $4.00 as the next potential target.
AaveAAVE displayed promising momentum post-breakout on Nov. 6, reaching $200 and eyeing further upside to $260, if it can withstand the resistance at $200.
The crypto market’s current dynamic brings hope for both investors and traders, with various altcoins showing significant potential for growth alongside Bitcoin’s meteoric rise.
