Bitcoin is showing potential to surge to $80K
Ethereum is gaining momentum and could rise to $2,900.
Dogecoin gains momentum; bullish action might push it to $0.18225.
As market turmoil continues, top cryptocurrencies have faced notable drops. Yet, crypto whales are capitalizing on this opportunity, grabbing more coins at a discount. With rising price swings, could this be a smart time to invest for potential post-election gains? Let's explore three tokens that institutional investors (whales) are heavily accumulating.
Bitcoin (BTC)
Source: Trading View
As of writing, Bitcoin gained 1.5% over the past 24 hours, surging past the $75K support level. However, Bitcoin has jumped 8.33% in the last month and boasts a year-to-date (YTD) return of 61.63%. These gains highlight strong long-term potential.
Yet, the RSI indicator hasn’t broken into the overbought range on the daily chart. If bullish sentiment continue, Bitcoin will attempt to surpass its new all-time high of $76.78K. But if bears take control, Bitcoin could slide back toward $60,000.
Ethereum (ETH)
Source: Trading View
Ethereum’s price action has gained over 6% this week. This narrow range reflects low buying and selling pressure for the leading altcoin. The MACD shows a steady red histogram on the daily chart, confirming neutral price trends.
In addition, the 50-day EMA acts as resistance, suggesting mixed price action. If the market turns bullish, Ethereum could even reach the $2,900 price level. On the downside, Ethereum might fall back to the critical support level at $2,200.
Dogecoin (DOGE)
Source: Trading View
As of writing, Dogecoin dropped 6.36% in the past 24 hours, with trading volumes reaching $1.57 billion. Yet, DOGE has surged 9.91% over the past week and 40.47% this month. With a YTD return of 69.62%, Dogecoin shows a long-term bullish trend. However, the SMA indicator reveals bearish convergence on the DOGE chart.
Meanwhile, the RSI has dropped significantly on the daily timeframe, pointing to potential bearish pressure. If bullish momentum returns, Dogecoin may aim for its upper resistance at $0.18225. On the flip side, a bearish shift could drive the price toward support at $0.127.
Whales are piling into Bitcoin, Ethereum, and Dogecoin, likely expecting post-election gains. These market moves might signal a chance to follow their lead. Watch these three tokens closely as the election approaches, as they could offer key opportunities.
The post Whales Were Stacking These Coins Before the 2024 U.S. Election appeared first on Crypto News Land.
