The ETHBTC parity is drawing attention by falling to April 2021 levels. This decline may pave the way for Ethereum, the leader of altcoins, to rise above the $ 5,000 level. In order for altcoins to rise in general, ETH needs to reverse its losses against BTC. November 2024 seems to be an unforgettable period for cryptocurrencies. With the US gaining a crypto-friendly administration, Bitcoin has almost reached the $ 100,000 target that has been dreamed of for years. So, what levels do current market estimates for ETH, AVAX, BONK and Shiba Coin indicate?
Ethereum (ETH)$ETH
The ETH price is trading at $3,305 at the time of writing. However, the main point to pay attention to is its performance against BTC. ETH is fixed at 0.0335 BTC and has not fallen to these levels in the last 1,310 days. Although it is demoralizing, this level, which ETH last saw in April 2021, could also be a sign of a potential recovery. While Bitcoin is breaking new records, ETH peaked at 0.082 BTC in April 2021. If ETH reaches these levels, it would be equivalent to around $9,000 against the dollar. Even if it falls back to 0.048 BTC, there may be an opportunity to break the all-time high. Therefore, it is important to monitor the ETHBTC pair carefully. The recovery in the ETHBTC pair is also necessary for the general rise of altcoins. Will lower levels be seen? In a bull market, such a scenario is usually not expected, but if Bitcoin diverges abnormally from the markets, anything is possible. However, in normal conditions, the 0.03 BTC level can be considered a bottom. Cowen also made a similar prediction and was right in his prediction that 0.03 BTC is close to the bottom.
AVAX, BONK ve Shiba Coin$AVAX
AVAX continues to hold $31 as support and has attracted attention with a 16% increase in the last 24 hours. This altcoin is trying to break out of the previously mentioned channel’s middle level of $42. If a successful breakout occurs above this level, $50 and then $65 levels can be targeted. With the yearly peak also broken, triple-digit prices could be on the agenda.$BONK
BONK Coin broke a new all-time high by seeing the $0.0000621 level. If Bitcoin experiences a correction, it could target $0.0000441 and $0.00003537 levels, with closes below $0.0000474. In the medium to long term, the price may want to erase another zero.
Shiba Coin is likely to retarget the channel resistance at $0.0000293 after a sustained close above the $0.0000247 level, with the main target being the high at $0.00004555.