Bitcoin rallied above $67,000 on Wednesday, clearing the final barrier on its journey to $69,900. The latest price action has boosted confidence that BTC could record a new all-time high before the end of the year.
Prominent crypto analyst Bitcoindata21 is super bullish on BTC and expects the coin to surge to $230,000 during the first quarter of 2025. While several other analysts also feel bullish, traders must be cautious when Bitcoin reaches its current all-time high ($73,728) as the bears could intensify selling pressure, triggering a sell-off.
Meanwhile, Bitcoin’s positive performance has improved investor sentiment on spot ETFs since the start of the week. Data from Farside Investors shows over $550 million worth of inflows in the past three days.
Most analysts expect Bitcoin and other top coins to continue performing positively this month. So, which levels on the upperside must we monitor? Let’s take a look at the chart to find out.
Bitcoin Price Analysis
Bitcoin trades at $67,463 as of this writing. With the $67,000 strong resistance violated, the buyers could thrust the coin above $69,900 and fuel a rally to $73,728, where the sellers must mount pressure to prevent a massive move to $80,000.
Meanwhile, if BTC plunges below $67,000 and the bears hold onto their advantage, a downtrend to the 20-day Exponential Moving Average of $63,387 looks likely. Moreover, a drop below this level could fuel a correction to the 50-day Simple Moving Average of $61,103.
Ethereum Price Analysis
ETH is trading near the resistance line of the ascending triangle. The bears have been mounting pressure to block further upward movement, but the bulls have held their ground. If a positive breakout from the triangle eventually happens, Ethereum could grow to $2,856 and later rally to the $3,472 resistance.
However, the bears could gain a massive advantage and pull Ethereum to the 50-day Simple Moving Average of $2,462.87 if the bulls can’t defend the 20-day Exponential Moving Average of $2,503.74.
BNB Price Analysis
The Binance Coin is almost crossing $600 after bouncing off from the 20-day Exponential Moving Average of $574.76 on October 15th. The buyers will now attempt to drive the asset to the $635.25 resistance. Achieving this milestone will allow them to thrust BNB to $721.83, where sellers are expected to book profits.
On the contrary, if BNB plummets below $574.76, the advantage may shift to the bears’ side. As such, a drop to the 50-day Simple Moving Average of $555.62 and then to $468 could happen.
Solana Price Analysis
Despite keeping Solana above the 20-day Exponential Moving Average of $148.21, the bulls have failed to start a rally to the $163.86 resistance, indicating strong bears’ presence at higher levels. However, if $163.86 finally crumbles, the journey to $189.32 will have no hurdles.
Conversely, if Solana crosses below $148.21, the bears will likely drag it to the 50-day Simple Moving Average of $141.58 and later to $138.15.
Toncoin Price Analysis
While most top assets are trading above moving averages, Toncoin, on the other hand, is still priced below the 50-day Simple Moving Average of $5.38 and the 20-day Exponential Moving Average of $5.31. This indicates bears’ determination to keep TON below lower levels and eventually tug it to $4.71.
However, if the $5.38 hurdle is crossed, Toncoin could rally to $6.04 and later move toward the $7.21 major resistance.
Dogecoin Price Analysis
DOGE rallied significantly on October 16th after the world’s wealthiest man, Elon Musk, shared the meme coin’s profile picture with the initials D.O.G.E on his X account. However, the rally came to a halt at the downtrend line, suggesting that the bears were taking profits at higher levels.
But if Dogecoin crosses that line in the coming days, a surge to $0.1418 seems possible. On the other hand, a sharp fall to $0.0952 could occur if $0.1083 isn’t protected.
