Bitcoin (BTC) is currently hovering just below $100,000, indicating that the bulls are not in a hurry to exit because they expect the upward trend to continue. Raoul Pal, the founder and CEO of Global Macro Investor, posted a chart on platform X, predicting that Bitcoin could peak locally above $110,000 in January.
Many analysts continue to hold an optimistic view for the coming year. Tom Lee, co-founder and head of research at Fundstrat Global Advisors, believes that Bitcoin could soar to $250,000 by 2025.
However, it's not just Bitcoin that is attracting attention. Traders seem to be gradually shifting their interest to altcoins. Renowned analyst Mikybull Crypto shared on X that Bitcoin's dominance ratio (BTC.D) has broken a two-year support line, signaling that the cryptocurrency market is entering an 'altcoin season.'
Could Bitcoin surpass the $100,000 mark and trigger another strong rally for altcoins? Let's analyze 5 cryptocurrencies with strong chart structures.
BTC Technical Analysis
Bitcoin is facing resistance near the psychologically important level of $100,000. However, the positive signal is that the price is still maintaining above the upward trend line.
BTC/USDT daily chart | Source: TradingView
The 20-day exponential moving average (EMA) at $92.114 is trending upwards and the relative strength index (RSI) is in the positive zone, indicating that the bulls are in control. This increases the likelihood that the price will break the $100,000 level. If it happens, the BTC/USDT pair could rise to $113,331, and then to $125,000.
Conversely, the bears need to pull the price below the 20-day EMA to weaken the bullish momentum. In that case, the pair could drop to $85,000, a price level expected to attract buyers.
BTC/USDT 4-hour chart | Source: TradingView
On the 4-hour chart, the moving averages have flattened and the RSI is just above the average, indicating that supply and demand are balanced. The price may accumulate in the range of $90,000–$100,000 for a while longer.
A breakout and close above $100,000 will indicate that the bulls have absorbed all selling pressure, opening up the possibility of a price increase to $113,331. Conversely, a drop below $90,000 could lead short-term investors to take profits, pulling the price down to $85,000.
SHIB Technical Analysis
Shiba Inu (SHIB) surged past the resistance level of $0.000030 on December 1, completing an inverse head and shoulders bullish pattern.
SHIB/USDT daily chart | Source: TradingView
If buyers keep the price above $0.000030, the SHIB/USDT pair could rise to $0.000039. This level may face strong resistance, but if surpassed, the pair could continue to rise to the target model at $0.000047.
Conversely, if the price does not maintain above $0.000030, it will indicate that the rally was just a bull trap. At that point, the price could drop to the 20-day EMA ($0.000025), where it is expected to attract buyers.
The pair closed above the resistance level of $0.000030 on the 4-hour chart, but the bears are not easily giving up. They will try to pull the price back below the breakout level. If they succeed, the pair could collapse down to the 20 EMA line.
SHIB/USDT 4-hour chart | Source: TradingView
On the 4-hour chart, the price closed above the resistance level of $0.000030, but the bears are not easily giving up. If the price drops below this level, the SHIB/USDT pair could drop to the 20 EMA.
Conversely, if the price maintains above $0.000030, it indicates that this level will become new support, with the next target being $0.000035 and then $0.000039.
FIL Technical Analysis
Filecoin (FIL) has surpassed and closed above the resistance level of $6.77 on November 30, completing a bullish rounded bottom pattern.
FIL/USDT daily chart | Source: TradingView
The bears will try to pull the price below $6.77 to trap overconfident buyers. If successful, the FIL/USDT pair could drop to the 20-day EMA ($5.33). The bulls need to strongly defend the 20 EMA line to maintain a positive sentiment.
If the price rises from the current level and surpasses $7.33, it will confirm that the $6.77 level has turned into support. At that point, the pair could rise to $9.34.
FIL/USDT 4-hour chart | Source: TradingView
The bulls and bears are witnessing a tough battle at the breakout level of $6.77. The upward trending moving average and RSI in the overbought region signal an advantage for the bulls. If the price rises and breaks above $7.33, it will indicate the continuation of the upward trend.
Conversely, a break below $6.77 could cause this pair to drop to the 20 EMA and then to the 50 SMA. Sellers will need to keep the price below the moving average to regain the leading position.
MNT Technical Analysis
The bulls are trying to push the price of Mantle (MNT) above the resistance level of $0.94.
MNT/USDT daily chart | Source: TradingView
If the bulls succeed, the MNT/USDT pair could rise to $1.10, where the bears are expected to set up a strong defense.
If the price does not maintain above $0.94, it will indicate that the bears are actively working at higher levels. At that point, the pair could drop to the 20-day EMA ($0.81), an important level that the bulls need to protect. If the price strongly rebounds from the 20-day EMA, the likelihood of the price breaking above $0.94 will increase.
The bears will regain the upper hand if they pull the price below the 20-day EMA. At that point, the pair could drop deeper to the 50-day SMA ($0.69).
MNT/USDT 4-hour chart | Source: TradingView
On the 4-hour chart, both moving averages are trending upwards and the RSI is near the overbought zone, indicating that the bulls are in control. The bulls have pushed the price above $0.94 but could not maintain the higher levels.
The 20 EMA is the first support to watch if the price drops. If the price reverses and rises from the 20 EMA, it will indicate that market sentiment remains positive. At that point, the bulls will try to push the price above $0.95.
AAVE Technical Analysis
The price of Aave (AAVE) has surpassed and closed above the resistance level of $200 on November 27, marking the continuation of the upward trend.
AAVE/USDT daily chart | Source: TradingView
The bears pulled the price back below $200 on November 29 but could not maintain lower levels. The AAVE/USDT pair bounced back from $200 on November 30, indicating that the bulls are trying to turn this level into support. The bulls need to maintain the price above $215 to pave the way for a rally to $260.
This positive outlook will be invalidated in the short term if the price drops and breaks below $194. At that point, the pair could drop to the 20-day EMA ($183).
AAVE/USDT 4-hour chart | Source: TradingView
The bears are trying to pull the price back to the 20 EMA, which is an important support to watch in the short term. If the price strongly rebounds from the 20 EMA, it will indicate buying activity as the price drops. This will enhance the outlook for continuing the upward trend.
Conversely, if the price breaks below the 20 EMA, it will indicate that the bulls are losing control. At that point, the pair could drop to the 50-day SMA. The bulls are expected to defend strongly at the 50-day SMA line, as breaking this level could tilt the advantage towards the bears.
Source: https://tapchibitcoin.io/4-altcoin-nay-co-the-tang-manh-khi-bitcoin-dao-dong-ngay-duoi-100-000.html