Bitcoin (BTC) has been on the rise for the past week, surging by over 12.5%. Despite the bears’ efforts to start a pullback on November 14th, the bulls held their ground, and the price has been trading in a tight range near its all-time high.
Crypto Market Data Daily View
Image: Crypto market data daily view from Coin360
This upward momentum has improved sentiment across the cryptocurrency sector, pulling several altcoins higher. However, traders need to be cautious as profit booking may set in if Bitcoin fails to hit and maintain a new all-time high.
Top 5 Cryptocurrencies with Strong Technical Structure
Let’s take a closer look at the top 5 cryptocurrencies that are showing strong technical signs of upward momentum:
1. Solana (SOL)
- Current Price: $192.42
- 24-Hour High/Low: $208.19 / $185.12
- Market Cap: $6,354,449,341 USD
- Circulating Supply: 315,000,000 SOL
Solana (SOL) has been on a tear since breaking out of its resistance level at $2.37 on November 9th. The bulls have been purchasing intraday dips, and the price has continued to rally vertically.
Why is Solana (SOL) Price Up Today?
The Sui token’s (SUI) rapid growth can be attributed to its strong technical indicators, including a rising 20-day EMA ($2.86) and buying on dips. If buyers thrust the price above $3.93, the pair could rally to $4 and subsequently to $4.40.
What are the Risks?
A break and close below the 20-EMA will signal that the bulls are losing their grip. The pair may then sink to $2.37.
2. Sui (SUI)
- Current Price: $3.93
- 24-Hour High/Low: $4.25 / $3.68
- Market Cap: $1,224,469,411 USD
- Circulating Supply: 314,000,000 SUI
Sui (SUI) has been on a tear since breaking out of its resistance level at $2.37 on November 9th. The bulls have been purchasing intraday dips, and the price has continued to rally vertically.
3. NEAR Protocol (NEAR)
- Current Price: $6.50
- 24-Hour High/Low: $7.70 / $6.15
- Market Cap: $4,534,999,341 USD
- Circulating Supply: 850,000,000 NEAR
NEAR Protocol (NEAR) picked up momentum after breaking out of its resistance level at $4.71 on November 11th. The bulls have been purchasing intraday dips, and the price has continued to rally.
4. Bitcoin (BTC)
- Current Price: $64,449
- 24-Hour High/Low: $66,119 / $62,419
- Market Cap: $1,230,999,341 USD
- Circulating Supply: 19,255,000 BTC
Bitcoin (BTC) has been on the rise for the past week, surging by over 12.5%. Despite the bears’ efforts to start a pullback on November 14th, the bulls held their ground.
5. Ethereum (ETH)
- Current Price: $4,649
- 24-Hour High/Low: $4,899 / $4,449
- Market Cap: $544,999,341 USD
- Circulating Supply: 120,000,000 ETH
Ethereum (ETH) has been on the rise for the past week, surging by over 10%. Despite the bears’ efforts to start a pullback on November 14th, the bulls held their ground.
Conclusion
The top 5 cryptocurrencies are showing strong technical signs of upward momentum. However, traders need to be cautious as profit booking may set in if Bitcoin fails to hit and maintain a new all-time high.
Disclaimer:
This article is for informational purposes only and should not be considered investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Subscribe to the Markets Outlook Newsletter
Stay up-to-date with the latest market trends and analysis by subscribing to our newsletter. Receive critical insights to spot investment opportunities, mitigate risks, and refine your trading strategies.