Originally published on: November 08, 2024
Bitcoin surged to a new all-time high of $77,000 on November 8, setting the stage for further growth. Bitget Research chief analyst Ryan Lee predicts Bitcoin could hit $100,000 within three months. Meanwhile, other experts like Galaxy’s head of research Alex Thorn believe cryptocurrencies are poised to reach new highs in the next 12-18 months.
As the crypto market heats up, it’s crucial to track key support levels for Bitcoin and other altcoins. Let’s dive into the charts of the top 10 cryptocurrencies to uncover potential trading opportunities.
Bitcoin (BTC) has been trading above the breakout level of $73,777, indicating strong bullish momentum. The target price for Bitcoin is $93,554, with key support levels at the 20-day EMA ($70,290) and the 50-day SMA ($66,263).
Ether (ETH) broke past the $2,850 resistance level, signaling a potential trend change. The ETH/USDT pair could climb to the downtrend line, with support levels at the moving averages and the support line.
Dogecoin (DOGE) faces resistance at $0.22, with the bulls defending the breakout level of $0.18. The DOGE/USDT pair could rally towards $0.30 if buyers maintain control.
In summary, Bitcoin, Ether, and Dogecoin show signs of continued growth, presenting trading opportunities for savvy investors. Keep a close eye on support and resistance levels to navigate the volatile crypto market effectively.
