Key Points:
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Last week’s solid purchase at Bitcoin ETF brought prices to a new all-time high on Sunday, with buyers attempting to extend the rally on Monday.
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Several altcoins show strength and strive to outweigh the overhead resistance.
Bitcoin (BTC) pulled back after hitting a new all-time high of $125,708 on Sunday, but the Bulls didn’t give up much of the ground to the Bears. It shows that the bull is not rushing to the exit as they expect the rally will continue. The Bulls once again pushed prices to a new all-time high on Monday.
The recent rally is supported by solid purchases at the Spot BTC Exchange-Traded Funds, which recorded an influx of $3.24 billion last week. This was the second-best week of influx into BTC ETFs, a record $3.38 billion inflow for the week ending November 22, 2024, according to SoSovalue data.
Several Wall Street banks hope that BTC will extend their rally by the end of the year, boosted by a sustained BTC ETF inflow and a correlation with money. Citigroup expects a modest year-end target of around $133,000, but standard chartered analysts expect BTC to surge to $200,000 by December.
Can BTC continue the up move or will it experience a short-term dip? How are the Altcoins located? Analyze and explore the charts of the top 10 cryptocurrencies.
S&P 500 Index Price Forecast
The S&P 500 Index (SPX) continued their scintillation run last week.
The first sign of weakness is a break, below the 20-day exponential moving average (6,637). If that happens, the index can fall to a simple 50-day moving average (6,503). Buyers are expected to defend their 50-day SMA with all force, as they could begin a deeper revision to 6,147.
On the contrary, if buyers maintain prices above the moving average, it shows that positive sentiment remains intact. The index can attempt to meet to a psychological level of 7,000.
US Dollar Index Price Forecast
The Bulls have hampered the Bears’ attempt to pull the US Dollar Index (DXY) below the moving average, but find it difficult to clear the overhead resistance at 99.
If the price remains above the moving average, the buyer will try to stab the index over the overhead resistor again. If they can pull it out, the index could skyrocket to the 100.50 level. Sellers are expected to bring a strong challenge at 100.50, but if the Bulls overcome this obstacle, the next stop could be at 102 resistance level.
The 97-96.21 zone can serve as a strong support for any dip. The Bears should show a re-opening of downward movement, pulling prices below 96.21 support.
Bitcoin price forecast
The Bears sold the rally to $125,708 on Sunday, but were unable to maintain a price below the $124,474 breakout level on Monday.
A significant drop in prices from current levels indicates that the bear is active at a higher level. Sellers then attempt to raise the Bitcoin price to a 20-day EMA ($117,291). If the price rebounds in strength from the 20-day EMA, the Bulls will strive to drive the BTC/USDT pair to $141,948.
Alternatively, it suggests that if prices fall and fall below the 20-day EMA, the pair could continue to vibrate between $107,000 and $126,000 for more days. A bearish double-top pattern is triggered when the pair falls below $107,000.
Ether Price Prediction
The ether (ETH) broke above the line of resistance on Monday, indicating that buyers were about to seize control.
Near the resistance line indicates that the correction phase may be over. The ether price could rise to $4,769 and then to $4,957. Sellers are expected to strongly defend the $4,957 level, but if the buyer wins, the ether price could surge to $5,500.
Instead, prices drop sharply and fall below the 20-day EMA ($4,375) could potentially trap offensive bulls. This could potentially sink the ETH/USDT pair into a support zone of between $4,060 and $3,745.
XRP Price Forecast
XRP (XRP) has witnessed a tough battle between buyers and sellers on the downtrend line.
The 20-day EMA ($2.94) begins to rise gradually, with the RSI just above the midpoint, indicating the Bulls’ slight edge. The descending triangle pattern is disabled near the downtrend line. As a result, pushing the XRP price to $3.40 and then pushing it to $3.66 could shorten the aperture.
Conversely, if prices drop sharply and fall below the moving average, it suggests that the XRP/USDT pair could spend a little more time inside the triangle.
BNB Price Prediction
Sellers tried to stall the BNB (BNB) rally at $1,192, but buyers had other plans. The Bulls bought a shallow dip and pushed prices to a new all-time high on Monday.
The BNB/USDT pair could raise $1,252, and the bear could pose a strong challenge. However, if the buyer penetrates a $1,252 resistance, the upward trend could be extended to $1,394.
The bears have a difficult job before them. The initial support on the downside is $1,134, a 20-day EMA ($1,052). Sellers will need to pull BNB prices below 20 days EMA to inform you of a comeback. The pair could then fall into a 50-day SMA ($941).
Solana price forecast
Sellers tried to pull Solana (Sol) under the 20-day EMA ($222) on Saturday, but the Bulls held the ground.
Upward moving averages and positive regions RSIs show benefits for buyers. This increases the chances of a break beyond the $237 resistance. In that case, the Sol/USDT pair can climb to a hard overhead resistance of $260.
This positive view will be void in the short term if prices drop sharply and fall below the 50-day SMA ($214). Solana Price could fall to a support level of $191.
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Dogecoin price forecast
Dogecoin (Doge) has maintained above the 20-day EMA ($0.25) over the past few days, showing positive emotions.
The 20-day EMA begins to appear, and the RSI rises into positive territory, showing slight edges on the bull. If the price exceeds $0.27, the Doge/USDT pair could rise from $0.29 to a resistance zone of $0.31. Sellers are expected to defend the resistance zone vigorously as a break above that could drive Dogecoin’s price to $0.39.
The Uptrend Line is an important support to keep an eye on the near future. The break below suggests that the Bulls are losing their grip. The pair can then remain within the large $0.14 to $0.29 for a while.
Cardano price forecast
Cardano (ADA) closed above the 50-day SMA ($0.85) on Thursday, but the Bulls were unable to clear the resistance line hurdle.
A positive indication in favour of the Bulls is that they do not allow prices below the 20-day EMA ($0.84) to be maintained. It suggests strong demand at lower levels. The bull is once again trying to push prices above the resistance line. If they are successful, the ADA/USDT pair could rally to $1.02.
Meanwhile, prices fall below the 20-day EMA, showing strong sales near the resistance line. The price of Cardano may extend your stay within a pattern of lowering triangles for more time.
High lipid price forecast
Hyperliquid’s (hype) relief rally faces resistance at 61.8% Fibonacci retracement level 51.87, indicating sales at the rally.
Bears are trying to pull and maintain prices below moving average. If they can do that, the hype/USDT pair could drop to $43. This is an important support to be aware of as less rest can sink high lipid prices to $39.68.
Contrary to this assumption, if prices rise to exceed $51.87, it suggests that the Bulls are back in the game. The pair then went up to $55.18, then a record high of $59.41.
This article does not include investment advice or recommendations. All investment and trading movements include risk and readers must do their own research when making decisions.