Originally published on: October 28, 2024
Bitcoin is on a winning streak, breaking above $69,000 and heading for $70,000. The US Bitcoin exchange-traded funds are seeing massive inflows, with $3 billion pouring in over the last two weeks. This bullish trend is likely to continue, especially with major events like the US elections and the Federal Reserve’s rate decision on the horizon.
The S&P 500 Index is holding strong, staying above the uptrend line, despite a recent corrective phase. If the index surpasses the 5,879 resistance, we could see a rally towards 6,000 and beyond.
The US Dollar Index is showing signs of fatigue near the 104.80 resistance, but a bounce off the 20-day EMA could signal a rally to 106. Keep an eye on the 20-day EMA for potential bullish momentum.
As Bitcoin gears up for $70,000, altcoins like Ethereum, BNB, SOL, XRP, DOGE, TON, and ADA are also in play. Ethereum is eyeing the $2,850 resistance, while BNB looks to break above $635. SOL faces a challenge at $179, with XRP aiming for $0.64 and DOGE pushing towards $0.18.
TON is struggling to break above moving averages, facing resistance near $6, while ADA is attempting to bounce off $0.31 support. Both coins could see significant moves in the near future.
With the crypto market heating up, it’s essential to stay informed and strategic. Keep an eye on these key levels and be prepared for volatility in the days ahead. Subscribe to our newsletter for more insights and analysis to help guide your investment decisions. Remember, every move comes with risks, so do your research and trade wisely.
