Price Analysis November 30th, 2024 – BTC, SOL, ETH, XRP, and BNB
Bitcoin’s price came near $100,000 on Friday again, signaling the bulls’ intention to push the coin into new territory. According to CryptoQuant analyst Caueconomy, the latest rally, which began from $90,058 earlier this week, was primarily fueled by the whales, who purchased over 16,000 BTC.
Alongside Bitcoin, analysts have also kept their eyes on Ethereum. On Friday, IntoTheBlock chief researcher Juan Pellicer said ETH could reach the $4,000 mark before Republican Donald Trump officially takes office on January 20th.
Bitcoin’s uptrend has triggered rallies in several top cryptocurrencies, although many continue to trade below their all-time highs. Pav Hundal, an analyst at Swyftx, has insisted that the altcoin season will not start until Bitcoin achieves the $100,000 milestone.
Could BTC break and stay above $100k, or will sellers keep defending the level? And if that price is breached, what vital points should we monitor? Analyzing the charts can give us a clear picture. Stick around!
Bitcoin Price Analysis
BTC crossed the $98,506 resistance on November 29th to hit $98,619. However, intense selling has resulted in a dip to $96,734 at press time. But with the coin still trading above the $95,000.40 major support, the bulls are expected to make another attempt to thrust it above $100,000. A successful try would signal the start of the second leg of the uptrend, in which the bulls will aim to push Bitcoin to $113,400 and then to $125,200.
Conversely, a reversal from $100,000 would mean that the latest rally was a bull trap. In that case, BTC could drop to the 20-day Exponential Moving Average of $91,167 or even retest $90,058.
Ethereum Price Analysis
The resistance at the downtrend line was breached on November 27th. Since then, the bulls have kept ETH above that mark, signaling a potential end of the downtrend. A continuation of the bullish momentum makes a rally to $3,900.48 possible. Furthermore, if $3,900.48 isn’t protected, Ethereum could rise to $4,098.37 for the first time since December 2021.
On the other hand, pulling ETH below the downtrend line could allow the bears to halt the rally. As such, a price correction to the 20-day Exponential Moving Average of $3,274 is anticipated.
Solana Price Analysis
Although Solana rebounded from the 20-day Exponential Moving Average of $228.97 on November 27th, the bulls haven’t fueled a significant rally, indicating rising selling pressure at higher levels. Their failure to push SOL above the $250.73 resistance enhances the risk of a drop below $228.97. If that occurs, we may see Solana plunge to the $210.69 breakout level or to $200.51.
Alternatively, a break above $250.73 could encourage the buyers to fuel a rally to the all-time high of $263.44. While we expect the sellers to put up a strong fight there, a move to $300 is a possibility if the buyers prevail.
BNB Price Analysis
While BNB traded above the $667.05 key resistance earlier today, the selling activity above this level limited upward movement. The token is valued at $664.32 as of this writing. However, if the profit-taking declines, the Binance Coin could rise above the $686.59 barrier and rally to $720.66.
On the bearish side, a drop to the 20-day Exponential Moving Average of $629.05 could happen if the bulls are defeated at $650. Moreover, if BNB falls and closes below $629.05, its next stop could be the 50-day Simple Moving Average of$605.39.
XRP Price Analysis
XRP has now crossed the $1.80 resistance for the first time in three years. Its latest rally comes as Ripple Labs partners with the Archax crypto exchange to introduce a tokenized money market fund on the XRP network.
The bulls are aiming to push the token to $2. However, they must break the $1.97 strong barrier to achieve this. If they fail, XRP could dip to the $1.64 support and later to $1.29, where intense buying is expected.
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