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COINTURK NEWS > Technical Analysis > Bitcoin Surpasses Key Price Levels and Sets Expectations for Altcoins
Technical Analysis

Bitcoin Surpasses Key Price Levels and Sets Expectations for Altcoins

In Brief

  • Bitcoin's rise influences altcoin performance positively.

  • Ethereum and XLM show promise with key targets ahead.

  • Solana and Shiba Coin face resistance while aiming for new highs.

Fatih Uçar
Fatih Uçar 6 months ago
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After a drop to 95,700 USD, Bitcoin $103,670 has once again surpassed the 98,800 USD mark, much to the satisfaction of altcoin investors. Although the overall sentiment in the cryptocurrency market has not yet turned bullish, gradual price increases continue. What are the predictions for ETH, XLM, SOL, and Shiba Coin by the end of November?

Contents
Ethereum and XLM PredictionsSolana (SOL) and Shiba Coin

Ethereum and XLM Predictions

To break Bitcoin’s market dominance, the price of Ethereum (ETH) $2,641 needs to exceed 3,800 USD, pushing towards a new cycle peak. As of the writing, the price is hovering around 3,500 USD, and a rapid influx of liquidity could occur as the upward momentum accelerates. The ETHBTC pair has established a low at 0.0317 BTC, and the recent bounce is promising.

Instead of focusing solely on USD pairs, ETH’s performance against BTC should be monitored closely. Recovering the levels of 0.038 and 0.045 BTC would indicate a trend reversal for ETH. The key to determining ETH’s performance in November and December will be how eagerly these two significant targets are pursued.

Recently, XLM Coin has become the top performer among the largest 100 cryptocurrencies, nearing its all-time high of 0.798 USD. Considering that the overall bullish market sentiment for altcoins has yet to fully materialize, it wouldn’t be surprising if the upcoming week sees some profit-taking reflected in a downward price movement.

We have witnessed a remarkable 5.5 times increase in price within just two weeks. This surge is exciting, but if a downturn occurs, we could see the price test the 0.38 USD support level.

Solana (SOL) and Shiba Coin

SOL Coin, which recently set a new all-time high, has struggled to remain above the 260 USD mark. Its ability to push the all-time high upward is a positive sign, especially as many cryptocurrencies have not achieved this feat. If SOL can sustain closes above 260 USD, it may trigger a new attempt towards 330 USD and higher. We may see renewed enthusiasm in the Solana $180 ecosystem if Bitcoin consolidates at higher levels.

Shiba Coin is struggling to break through the parallel channel resistance at 0.0000296 USD. Risk-tolerant traders may consider purchasing at the medium zone of 0.0000246 USD, aiming to sell during resistance tests. However, if the channel resistance and the 0.0000327 barriers are overcome, Shiba Coin is expected to reach a new all-time high.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Fatih Uçar 25 November, 2024 - 6:42 pm 25 November, 2024 - 6:42 pm
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