Bitcoin price started another decline from the $67,000 zone. BTC is showing bearish signs and might soon revisit the $61,000 support zone.

• Bitcoin failed to clear the $67,000 resistance zone.
• The price is trading below $65,000 and the 100 hourly Simple moving average.
• There was a break below a rising channel with support at $64,900 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could extend its decline unless it clears the $65,000 resistance zone.

Bitcoin Price Recovery Stalls

Bitcoin price attempted a recovery wave above the $65,000 resistance zone. BTC even climbed above $66,200, but the bears were active near the $67,000 zone.

A high was formed at $66,898 and the price started another decline amid rising tensions between Israel and Iran. There was a move below the $65,000 and $64,000 levels. The price traded below the 50% Fib retracement level of the upward move from the $60,495 swing low to the $66,898 high.

There was a break below a rising channel with support at $64,900 on the hourly chart of the BTC/USD pair. Bitcoin is now trading below $65,000 and the 100 hourly Simple moving average. The bulls are now protecting the 61.8% Fib retracement level of the upward move from the $60,495 swing low to the $66,898 high at $63,000.

Immediate resistance is near the $63,750 level. The first major resistance could be $64,700. The next resistance now sits at $65,000. If there is a clear move above the $65,000 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $66,800 and the 100 hourly Simple moving average.

Source: BTCUSD on TradingView.com

The next major resistance is near the $67,200 zone. Any more gains might send Bitcoin toward the $70,000 resistance zone in the near term.

More Losses In BTC?

If Bitcoin fails to rise above the $65,000 resistance zone, it could start another decline. Immediate support on the downside is near the $63,000 level.

The first major support is $62,000. If there is a close below $62,000, the price could start to drop toward the $61,000 level. Any more losses might send the price toward the $60,500 support zone in the near term.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $63,000, followed by $62,000.

Major Resistance Levels – $64,700, $65,000, and $67,000.

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Bitcoin price is gaining momentum above the $62,000 resistance. BTC is signaling an upside break and might surge toward the $65,000 resistance.

• Bitcoin price is moving higher from the $61,200 support zone.
• The price is trading above $62,500 and the 100 hourly Simple moving average.
• There was a break above a key bearish trend line with resistance at $62,300 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could accelerate higher toward the $65,000 resistance or even $65,730.

Bitcoin Price Regains Strength

Bitcoin price remained well-bid above the $60,000 support zone. A base was formed, and the price started a fresh increase above the $62,000 resistance.

There was a break above a key bearish trend line with resistance at $62,300 on the hourly chart of the BTC/USD pair. The pair even cleared the 76.4% Fib retracement level of the downward move from the $63,583 swing high to the $60,108 low.

Bitcoin is now trading above $62,500 and the 100 hourly Simple moving average. Immediate resistance is near the $63,800 level. The next key resistance could be $64,500, above which the price could rise toward the $65,000 resistance zone.

Source: BTCUSD on TradingView.com

If the bulls remain in action, the price could even surpass $65,000 and test $65,500. Any more gains might send the price toward the 1.618 Fib extension level of the downward move from the $63,583 swing high to the $60,108 low at $65,730.

Are Dips Supported In BTC?

If Bitcoin fails to rise above the $64,000 resistance zone, it could start another downside correction. Immediate support on the downside is near the $62,750 level.

The first major support is $62,250 or the 100 hourly SMA. If there is a close below $62,250, the price could start a decent pullback toward the $61,000 zone. Any more losses might send the price toward the $60,000 support zone.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $62,750, followed by $62,250.

Major Resistance Levels – $63,800, $65,000, and $65,730.

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Solana is gaining bullish momentum above $108. SOL price is showing positive signs, and it could even surpass the $118 resistance in the near term.

• SOL price started a fresh increase from the $98.50 support against the US Dollar.
• The price is now trading above $108 and the 100 simple moving average (4 hours).
• There was a break above a major bearish trend line with resistance at $108.80 on the 4-hour chart of the SOL/USD pair (data source from Kraken).
• The pair could continue to rally if it clears the $115 and $118 resistance levels.

Solana Price Starts Fresh Increase

Solana price formed a base above the $98.50 support zone and recently started a fresh increase. There was a decent increase above the $102 and $105 levels.

The price is up nearly 10% and there was a move above the $108 level, like Bitcoin and Ethereum. There was a break above a major bearish trend line with resistance at $108.80 on the 4-hour chart of the SOL/USD pair. The bulls pushed the price above the 50% Fib retracement level of the downward move from the $118.70 swing high to the $98.54 low.

Solana is now trading above $110 and the 100 simple moving average (4 hours). Immediate resistance is near the $111 level. The next major resistance is near the $114 level or the 76.4% Fib retracement level of the downward move from the $118.70 swing high to the $98.54 low.

Source: SOLUSD on TradingView.com

A successful close above the $114 resistance could set the pace for another major increase. The next key resistance is near $118. Any more gains might send the price toward the $125 level.

Are Dips Limited in SOL?

If SOL fails to rally above the $114 resistance, it could start a downside correction. Initial support on the downside is near the $108.50 level or the 100 simple moving average (4 hours).

The first major support is near the $105.00 level, below which the price could test $98.50. If there is a close below the $98.50 support, the price could decline toward the $92 support in the near term.

Technical Indicators

4-Hours MACD – The MACD for SOL/USD is gaining pace in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level.

Major Support Levels – $108.50, and $105.00.

Major Resistance Levels – $114, $118, and $125.

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Bitcoin price is recovering higher above the $42,000 resistance. BTC must clear $42,800 and $43,500 to start an increase toward the $45,000 resistance.

• Bitcoin price is moving higher above the $42,000 resistance zone.
• The price is trading above $41,500 and the 100 hourly Simple moving average.
• There is a key bullish trend line forming with support near $41,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could start a steady increase if it clears the $42,800 and $43,500 resistance levels.

Bitcoin Price Aims Higher

Bitcoin price formed a support base above the $40,000 support zone. BTC started a decent increase above the $41,200 and $41,500 resistance levels.

It opened the doors for more gains above $42,000 and the 100 hourly Simple moving average. Finally, the price tested the $42,800 zone. A high was formed near $42,800 before there was a minor decline. The price declined below the $42,200 level.

Bitcoin tested the 23.6% Fib retracement level of the upward move from the $38,518 swing low to the $42,800 high. There is also a key bullish trend line forming with support near $41,500 on the hourly chart of the BTC/USD pair.

The price is now trading above $41,500 and the 100 hourly Simple moving average. Immediate resistance is near the $42,500 level. The next key resistance could be $42,800, above which the price could rise and test $43,500.

Source: BTCUSD on TradingView.com

A clear move above the $43,500 resistance could send the price toward the $44,250 resistance. The next resistance is now forming near the $45,000 level. A close above the $45,000 level could push the price further higher. The next major resistance sits at $46,500.

Another Drop In BTC?

If Bitcoin fails to rise above the $42,800 resistance zone, it could start another decline. Immediate support on the downside is near the $41,750 level.

The next major support is $41,500 and the trend line. If there is a close below $41,500, the price could gain bearish momentum. In the stated case, the price could dive toward the $40,650 support or the 50% Fib retracement level of the upward move from the $38,518 swing low to the $42,800 high in the near term.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $41,500, followed by $40,650.

Major Resistance Levels – $42,800, $43,500, and $45,000.

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

• Cryptocurrencies are in a strong uptrend ahead of Christmas.

• There are signs that a Santa Claus rally is underway.

• Memeinator token is nearing its target goal.

A Santa Claus rally is emerging in the crypto and stock market. Bitcoin is targeting the year-to-date high while American indices like the Dow Jones, S&P 500, and Nasdaq 100 indices are trading at their record highs. 

In addition to BTC, other cryptocurrencies like Solana, Bonk, and IoTeX are also doing well. Indeed, Solana has just overtaken XRP to become the fifth biggest cryptocurrency in the world, helped by the meme coin hype.

Meanwhile, Memeinator, an upcoming cryptocurrency that aims to infuse the concept of Artificial Intelligence (AI) with meme coins is thriving. Its token sale is slowly nearing its target of $2.4 million as it nears its end.

Why are cryptocurrencies soaring?

Cryptocurrency prices are surging because of several important factors. First, the SEC, Blackrock, and Nasdaq held their second meeting to deliberate on the mechanics of a spot Bitcoin ETF. This meeting confirmed to many people that the SEC would approve these ETFs in the coming weeks or months.

They are also jumping because of monetary policy issues. On Wednesday, the Office of National Statistics (ONS) published encouraging inflation data. The data revealed that the UK inflation dropped below 4% in November.

These numbers confirmed that global inflation was falling and that central banks wll start cutting interest rates in the coming months. The Fed has hinted that it will start lowering rates in June next year. Other banks like the ECB and the Swiss National Bank (SNB) are also expected to lower rates.

Cryptocurrencies and stocks tend to do well in a period of rate cuts because it usually ushers a new era of risk-on sentiment. This explains why the US dollar index and global bond yields have pulled back in the past few weeks.

Therefore, analysts believe that the cryptocurrency bull run is just geting started. In a note, an analyst at CryptoQuant noted that Bitcoin could rise to a high of $164k in 2024. He highlighted the following factors.

“We argue that bitcoin and crypto markets could have a positive year in 2024 mostly amid the effects from: 1. The market valuation cycle, 2. Network activity, 3. The bitcoin halving, 4. The macroeconomic perspective, 5. Bitcoin spot ETF approval and 6. Growing stablecoin liquidity.”

Memeinator to benefit

Memeinator’s MMTR token will likely benefit if this forecast is accurate since most altcoins tend to do well when Bitcoin is rising. We have seen several new meme coins surge in 2023. For example, coins like Bonk and Pepe have gained a combined market cap of over $1 billion this year.

Memeinator is aiming to conquer this industry by creating a cult following among community members. Already, more than 384k people have entered its competition to win a trip to space using Virgin Galactic’s ship. Its promotion has also reached millions of users.

In addition to its meme coin tools, the network aims to take advantage of artificial intelligence, which has gone mainstream this year. Therefore, I suspect that the MMTR will join the crypto rally in 2024. You can buy the MMTR token here.

Ethereum price is recovering losses from the $2,120 support. ETH is up over 3% and the price could gain pace if it clears the $2,250 resistance.

• Ethereum is moving higher from the $2,120 support zone.
• The price is trading above $2,200 and the 100-hourly Simple Moving Average.
• There was a break above a key bearish trend line with resistance near $2,210 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could climb further higher if it clears the $2,250 resistance zone.

Ethereum Price Restarts Increase

Ethereum price extended its decline below the $2,150 level. ETH remained strong above the $2,120 level. A low was formed near $2,116 and the price started a fresh increase, like Bitcoin.

There was a move above the $2,150 and $2,200 resistance levels. The price climbed above the 50% Fib retracement level of the downward move from the $2,332 swing high to the $2,116 low. There was also a break above a key bearish trend line with resistance near $2,210 on the hourly chart of ETH/USD.

Ethereum is now trading above $2,200 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $2,250 level. It is close to the 61.8% Fib retracement level of the downward move from the $2,332 swing high to the $2,116 low.

Source: ETHUSD on TradingView.com

The next key resistance is near the $2,280 level. A clear move above the $2,280 zone could send the price toward the $2,330 level. The next resistance sits at $2,400. Any more gains could start a wave toward the $2,550 level, above which Ethereum might rally and test the $2,750 zone.

Another Decline in ETH?

If Ethereum fails to clear the $2,250 resistance, it could start another decline. Initial support on the downside is near the $2,210 level or the 100 hourly SMA.

The first key support could be the $2,200 zone. A downside break and a close below $2,200 might start another major decline. In the stated case, Ether could revisit the $2,120 support. Any more losses might send the price toward the $2,000 level in the coming days.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is now above the 50 level.

Major Support Level – $2,200

Major Resistance Level – $2,250

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.