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COINTURK NEWS > Technical Analysis > Bitcoin Strives to Reclaim $97,000: Insights on Altcoins and Market Trends
Technical Analysis

Bitcoin Strives to Reclaim $97,000: Insights on Altcoins and Market Trends

In Brief

  • Bitcoin is aiming to regain the $97,000 level.

  • Ethereum shows potential for a bullish rally above $3,640.

  • Polkadot could see significant gains with a breakout above $6.90.

Ömer Ergin
Ömer Ergin 1 year ago
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Bitcoin $76,115 is making efforts to reclaim the $97,000 mark. With a positive shift in overall market sentiment, altcoins are also experiencing gains. As we approach the first weekend of the new year, let’s examine updated predictions for Bitcoin, Ethereum, and DOT Coin. What will be the price of Bitcoin?

Contents
What Will Be the Price of Bitcoin?DOT and ETH Chart Review

What Will Be the Price of Bitcoin?

The recent surge in BTC has provided a breather for altcoins. Meanwhile, BTC’s price hovering around $97,000 is seen as a positive sign. At the time of writing, a market opening in the U.S. was imminent, and this could boost BTC momentum.

In today’s assessment, Daan Crypto Trades revealed key levels for the short-term outlook.

“BTC is trading around a high-volume price node, where significant trading activity has occurred. Typically, once the price breaks from such a high-volume area, it can move more freely. The 200MA on the 4-hour chart is maintaining resistance, while the 4H 200EMA provides support below. I want to see a breakout above $98,000 to kickstart the party and begin moving towards all-time highs.”

“In the short term, the key level to maintain for upward momentum is $95,000.”

At the time of writing, the BTC price stood at $97,050.

DOT and ETH Chart Review

Carl highlighted an exciting detail for Ethereum and altcoins in a graph shared earlier today. He focused on the bullish flag in the Ethereum (ETH) $2,261 chart, anticipating a fresh move above $3,640. If this translates into a sustained rally, crossing the $4,100 threshold could lead to an all-time high, sparking a rally in altcoins.

CryptoBullet is also signaling a breakout for Polkadot (DOT) Coin. If the scenario proves accurate, the breakout could pull DOT Coin’s price up to $18. It’s crucial to monitor the status of BTC and ETH charts during this process. To enable a double-digit rise towards a bigger peak after the breakout, $6.90 must be maintained.

As the article concludes, U.S. markets had opened positively.

You can follow our news on Telegram, Facebook & Coinmarketcap & X
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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Ömer Ergin 3 January, 2025 - 8:14 pm 3 January, 2025 - 8:14 pm
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