As a seasoned cryptocurrency analyst with over a decade of experience in this dynamic market, I find myself constantly intrigued by the fluctuations and trends that characterize the digital asset landscape. Today, let’s delve into four promising projects: Pepe, Fantom, SushiSwap, and Bitcoin.
As a researcher studying the cryptocurrency market, I’ve observed an intense struggle between bullish and bearish forces at the $100,000 level for Bitcoin (BTC). A contributor to CryptoQuant named Percival recently expressed in a Quicktake blog post on December 6th that the weekly strength of Bitcoin appears to have weakened, hinting towards a potential period of consolidation.
Despite temporary market fluctuations and uncertainty, analysts remain optimistic about Bitcoin’s long-term growth. Quinten François, co-founder of WeRate, recently stated on platform X that Bitcoin may be approaching its ‘euphoria stage,’ which could potentially sustain the rally for up to a year before reaching a peak in the cycle.
In addition to Bitcoin, Donald Trump’s presidency has contributed to a rise in the prices of various alternative cryptocurrencies. Yet, Felix Hartmann from Hartmann Capital cautioned in a recent post on social media that investors and developers might quickly sell their altcoins, potentially leading to a sharp decline.
Could alternative coins (altcoins) keep surpassing their performance in the short term, given that Bitcoin might be entering a phase of price stabilization? Instead, let’s examine the top five digital currencies with robust chart structures.
Bitcoin price analysis
Bitcoin is facing resistance near the psychologically crucial level of $100,000, but the bulls are not rushing to the exit.
Strengthening close to $100,000 increases the chances of a price increase. If purchasers push the price above $104,088, the positive trend could intensify, potentially causing the BTC/USDT pair to rise towards $113,331 and then reach as high as $125,000.
Keep an eye on the significant short-term support at the 20-day exponential moving average ($95,285). If this level is breached, it could indicate that buyers are rushing to cash out, potentially causing the pair to drop to around $90,000 and then towards the 50-day simple moving average ($84,110).
The duo’s transactions have consistently been higher than the moving averages, suggesting a minor advantage for the buyers. An upward trend might encounter significant opposition in the range of $101,900 to $104,088. If they manage to surpass this zone, it could propel them towards $113,331.
Instead of continuing an upward trend, a drop below the moving averages might persuade short-term bulls to cash out their gains. This could potentially push the price down to $90,000, which could draw in new buyers. If the price recovers from $90,000 and climbs above the moving averages again, it would indicate a period of fluctuation. The pair might then stay within a range between $90,000 and $104,088 for some time.
Dogecoin price analysis
Dogecoin’s (DOGE) price trend suggests it is moving within an upward-sloping channel structure, suggesting that buyers currently hold a stronger position in the market.
In simpler terms, the bulls have been attempting to drive the price of DOGE/USDT beyond the $0.48 barrier, but the bears are preventing this from happening. If the price increases from its current position or the 20-day EMA ($0.41), the bulls will make another effort to lift the pair up to the resistance line within the channel. The bears, however, are anticipated to put up a strong fight at that resistance line because breaking through it could cause the pair to surge towards $0.60.
If bears want to prevent the upside, they will have to tug the price below the channel’s support line. The pair may then tumble to the 50-day SMA ($0.30).
The duo is currently receiving reinforcement at the 20-Exponential Moving Average, suggesting a favorable outlook. The buyers aim to surpass the upcoming barrier at $0.48. If they accomplish this, the pair could ascend towards the resistance line of the channel. However, if the price plummets dramatically from the resistance line and drops beneath the 20-EMA, it would suggest that the pair might stay within the channel for a while longer.
Instead, if there’s a pause and a rise beyond the level considered as resistance, it suggests the beginning of the next phase of the upward trend heading towards $0.60.
Sui price analysis
Swiss Franc (SUI) is encountering resistance around $4.50, yet the bulls are holding their positions firmly against the bears’ pressure. This indicates that the market’s buyers expect the price rise to persist.
The SUI/USDT exchange rate might drop to around $3.94 initially, then approach the 20-day Exponential Moving Average ($3.66). If the price bounces back from this moving average, the buyers will strive to surpass the significant resistance at $4.50. Should they succeed, it could initiate a new phase of upward trend towards $5.31.
A minor concern is the developing negative divergence on the RSI. If the price breaks below the 20-day EMA, it will signal that the bulls are booking profits. That may sink the pair to the 50-day SMA ($2.93).
If the bulls can’t push the price beyond $4.50, there might be a decline back to $4. This level could act as a crucial support point, and if the market shows a robust rebound from here, it would enhance the chances of a surge above $4.50.
Instead of maintaining control, a drop beneath $4 could imply that the bears (who aim to sell) are regaining dominance. This might cause the pair to move towards the 50-Simple Moving Average (SMA). If this support level weakens further, the pair could potentially fall to $3.
Pepe price analysis
As a crypto investor, I find myself at a pivotal point with PEPE. It’s currently hovering around $0.000027, a level that could potentially spark a fierce contest between the bulls and the bears, each vying for dominance.
The 20-day Exponential Moving Average (EMA) is trending upward at approximately $0.000021, while the Relative Strength Index (RSI) suggests it’s in an overbought state, potentially favoring buyers. If the buying pressure keeps the price above $0.000027, the PEPE/USDT pair might experience a significant increase, possibly reaching $0.000035 initially, and further up to $0.000044.
Instead of increasing as expected, a decrease from $0.000027 could suggest that the bears are actively guarding this level. If so, the pair might descend towards its 20-day Exponential Moving Average (EMA). For sellers to take control, they must force the price below the 20-day EMA.
Bears lowered the price to around $0.000024, but aggressive buyers (bulls) took advantage of the drop near the 20-Exponential Moving Average. Now, these bulls are attempting to lift the price over $0.000027 again. If they succeed, this cryptocurrency pair might surge up to $0.000035.
As a crypto investor, I can sense the urgency in the market right now. If the bears are planning to regain control, they need to act swiftly and push the price below the moving averages. Once that happens, the pair might plummet towards the robust support level around $0.000017.
Fantom price analysis
On December 2, Fantom (FTM) surpassed the previous resistance at $1.23, and buyers successfully prevented sellers from driving the price down again towards the breakout point. This indicates strong demand during market dips.
Based on the current market conditions, it seems the 20-day Exponential Moving Average (EMA) stands at around $1.09, and the Relative Strength Index (RSI) is in the overbought zone. This suggests that buyers currently hold a stronger position. Consequently, investors, often referred to as ‘bulls’, may aim to propel the price towards approximately $1.68. This level might prove challenging, serving as a significant barrier. If, however, the buying pressure manages to push the price beyond $1.68, the upward momentum could potentially carry on until it reaches around $2.00.
Pay attention to the significant level of $1.23 on the downside. If the price falls below this point and closes there, it could indicate that the bullish trend is losing strength. In such a case, the FTM/USDT pair might drop towards its 20-day Exponential Moving Average (EMA).
The duo has rebounded from the 20-Exponential Moving Average, suggesting robust purchasing during brief declines. If purchasers manage to push the price above $1.39, the pair might resume its upward trajectory towards the next potential goal of $1.68.
If the price suddenly drops significantly from $1.39 and falls beneath the 20-Exponential Moving Average (EMA), this could indicate that bears are becoming more active at higher levels. In such a case, the pair might decrease further towards the 50-Simple Moving Average (SMA). A drop below the 50-SMA could potentially shift the short-term advantage towards the bears.
Read More
- BCH PREDICTION. BCH cryptocurrency
- TRU PREDICTION. TRU cryptocurrency
- UNI PREDICTION. UNI cryptocurrency
- RIF PREDICTION. RIF cryptocurrency
- GFI PREDICTION. GFI cryptocurrency
- WRX PREDICTION. WRX cryptocurrency
- HTR/USD
- CTXC PREDICTION. CTXC cryptocurrency
- FXS PREDICTION. FXS cryptocurrency
- OKB PREDICTION. OKB cryptocurrency
2024-12-08 23:50