Massive BTC Uptrend: Will Bitcoin Hit $100K? Bulls Set Sights on Key Target as Bears Weaken
Over the previous week, Bitcoin has been soaring, surpassing $81,000 on November 10. The surge is still in its early stages, according to several observers. In a post on X, Bitwise Invest CEO Hunter Horsley stated that “Bitcoin is different,” despite novice traders’ concerns that the cryptocurrency’s surge has made it overpriced.
When Bitcoin’s price goes up, people view it as more likely that it will succeed, and therefore be even more valuable. And so it’s likely to go up even further,
Horsley
Bulls Push Bitcoin Above $80K, Eyeing $93K Target Despite Bearish Pressure
The bears were gaining ground on the Bitcoin bulls, which might have led to another round of short covering on November 10. The price surpassed $80,000 as a result. The breakout from the $54,000 to $73,777 area is expected to reach the target objective of $93,554. Although buyers may attempt to extend the upswing to the psychologically significant level of $100,000, this level may serve as resistance.
The bears are running out of time. The price must be pulled below the 20-day exponential moving average ($71,753) if they hope to recover. The BTC/USDT pair may be drawn toward the 50-day simple moving average ($66,864) as a result of long liquidation.
Ethereum Price Breaks $2,850: Could a Rally to $4,094 Be in Sight?
On Nov. 6, Ether bounced off the symmetrical triangle pattern‘s support line and rapidly increased. The break above $2,850 made a rally to the downward trend line possible. Because a break above the downtrend line could push the price to $4,094, sellers are expected to fight hard to hold it.
On the downside, $2,850 is the crucial support to watch. If it bounces back from $2,850 with vigor, it will indicate that traders are buying on dips and that sentiment is still favorable. However, a decline below $2,850 will give the bears the upper hand.
SOL Bulls Eye $260 as Solana Breaks Key Resistance at $210
On November 10, Solana broke free of the $210 overhead barrier, suggesting that the bulls were attempting to establish their dominance. The subsequent phase of the uptrend will begin if the price closes above $210. It is anticipated that sellers will put up a fierce defense if the SOL/USDT pair rises to $260.
However, it will indicate that the markets have rejected the breakout if the price does not close over $210. The pair may drop to $189, which is a crucial short-term support level to keep an eye on. The pair might drop to the 20-day EMA ($178) if it drops below $189.
Sui Bulls Aim Higher After $2.37 Breakout – $4.00 Target in Sight for SUI/USDT
On November 9, the price of Sui broke off of the strong overhead barrier at $2.37, which spurred buying. The candlestick’s lengthy wick indicates selling at higher levels, despite the bulls pushing the price above $3.00. The bears will attempt to initiate a decline toward the breakthrough level of $2.37 if the price slides below $2.70.
In contrast, if the price remains close to $3.00, it will indicate that the bulls are retaining their holdings in anticipation of another move upward. The next stop might be $4.00 if the SUI/USDT pair climbs above $3.15.
Aave Price Targets $260 as Bulls Eye Breakout Beyond $200 Resistance
On November 6, Aave broke out of the moving averages and gained speed. On November 9, it reached the psychological resistance of $200. At $200, the bears will attempt to halt the upward trend, but if the bulls do not give the selling much ground, there is a greater chance of an upward breakout. Buyers might push the AAVE/USDT pair to $260 if they break through the $200 level.
On the downside, $180 is the immediate support. Selling may pick up speed if this level is broken, bringing the price down to the 20-day EMA ($160). The second leg of the upward trend is probably going to start later if there is a significant setback.
For more up-to-date crypto news, you can follow Crypto Data Space.
Leave a comment