Crypto Price Analysis 11-25 BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, DOGECOIN: DOGE, POLKADOT: DOT, UNISWAP: UNI, ARBITRUM: ARB

As a seasoned cryptocurrency investor with years of experience under my belt, I must say that the recent market movements have been nothing short of thrilling. The surge in Polkadot (DOT) and Uniswap (UNI) prices is particularly noteworthy, as these tokens have shown remarkable resilience and potential for growth.

As an analyst, I observed that Bitcoin (BTC) nearly hit the $100,000 mark, peaking at $99,655, only to retreat in the subsequent hours, currently resting at a lower level. In the last 24 hours, BTC has experienced a minor dip, but over the weekend, it registered a significant decline, reaching a low of $95,816 late on Sunday before bouncing back. Despite BTC reaching unprecedented heights during its surge, analysts like myself have detected indicators suggesting market fatigue and potential consolidation around the $100,000 mark.

In the past 24 hours, several significant digital currencies have experienced a drop. Notably, Ethereum (ETH) and Solana (SOL) have seen nearly 1% decrease each, with Solana attempting to stay above $250 as investors buy in. Similarly, Dogecoin (DOGE), Cardano (ADA), Toncoin (TON), and Polkadot (DOT) have also experienced a slight drop. Regarding Bitcoin’s (BTC) efforts to break the $100,000 barrier, ChangeNOW Chief Marketing Officer Pauline Shangett remarked on its current state.

Bitcoin’s sharp rise to $99,655 has caused its momentum indicators to stretch out, suggesting that the market might be running out of steam. Although Bitcoin’s long-term foundations seem solid, brief fluctuations and profit-taking are likely in the near future. It seems the entire crypto market is echoing Bitcoin’s cooling trend, with coins such as Ethereum and Solana feeling the squeeze too, reflecting a cautious approach among investors following a substantial rally.

Crypto Market Hit By Liquidation Wave

The price of Bitcoin (BTC) fell sharply below $96,000 and then rebounded, but it hasn’t been able to surpass $100,000 yet. This sudden drop caused a massive wave of crypto liquidations, which is the forced selling of cryptocurrency positions, worth approximately $500 million in the last six months. Most of these liquidations were long positions, totaling about $379 million, while short positions accounted for around $125 million. Data from CoinGlass shows that a total of 197,083 traders were affected by this event, with the largest liquidation ($13 million) happening on Binance. Bitcoin and Ethereum (ETH) made up a large portion of these liquidations, accounting for around $121 million in positions.

Notable cryptocurrencies, like Dogecoin (DOGE), Ripple (XRP), and Stellar (XLM) experienced substantial sell-offs, amounting to approximately 34.20 million, $30.27 million, and $18.95 million respectively. This decline follows a strong surge reported by coins such as XLM and DOGE in recent days. On November 23-24, XLM saw an over 50% increase, while DOGE reached levels last seen since May 2021.

NFTs Register $158M Weekly Sales Volume

Despite a minor dip, non-fungible tokens (NFTs) maintained robust sales this past week, with a total of approximately $158 million in transactions. This figure represents a 12.7% decrease from the previous week’s record of $181 million. However, it’s important to note that even with this decline, the weekly trading volume still surpasses its early November record of $93 million.

In terms of NFT sales, Ethereum led the pack with an impressive $49 million in transactions, followed closely by Bitcoin at $43 million. Solana held onto its third position, but saw a slight decrease of 9% from the previous week, totaling $23.9 million. Meanwhile, Polygon, Immutable, Mythos Chain, and BNB Chain combined for a weekly sales volume of $35.8 million.

In contrast, Solana has been at the forefront of NFT buying activity, boasting 185,000 buyers for the week, marking a 57% rise from the previous week. This trend indicates that NFTs are poised to end November on a high note. Moreover, NFT sales volume amounted to $356 million in October, showing an 18% surge compared to September’s figures. The current data points towards sustained interest, albeit with some minor fluctuations.

Bitcoin (BTC) Price Analysis

In more straightforward terms: The surge in Bitcoin (BTC) has paused recently, halting close to the significant figure of $100,000 due to sellers applying slight pressure. This pause might be because traders are considering whether enthusiasm over President-elect Donald Trump’s pro-crypto stance is becoming excessive. After hitting a low of $95,776 on Sunday, Bitcoin has risen again to its current prices. Matt Maley, strategist at Miller Tabak and Co, commented on this.

With Bitcoin reaching $100,000, some investors are growing concerned and predicting a temporary pause in its growth due to increasing enthusiasm surrounding the cryptocurrency.

Trump has pledged to implement supportive cryptocurrency regulations and even consider accumulating a reserve of Bitcoin. Yet, the specific timing and practicality of certain commitments are uncertain.

As we approach the $100,000 price point, there’s a growing trend for selling rather than buying. This could indicate that the market might stabilize around this level temporarily, followed by a potential breakout and sustained rise above it in the short term.

After hitting a record high of $99,317 on Friday, the Bitcoin price trend appears to have lost its upward momentum. In the previous week, BTC showed strong optimism and continued to move towards $100,000, with a growth of 1.17% on Monday that pushed it above $90,000 to reach $90,509. The bullish trend persisted throughout Tuesday, resulting in a 2.15% increase and a closing price of $92,457. Wednesday saw another near 2% rise, taking the price up to $94,204. This positive sentiment further intensified on Thursday as BTC surged nearly 4%, crossing the $95,000 mark and settling at $97,784. However, the bullish energy seemed to dwindle on Friday as Bitcoin approached the $100,000 milestone, reaching an intraday high of $99,317 before falling back to $98,355, showing a minimal gain of 0.58%.

The weekend began with BTC registering a notable decline on Saturday, falling by 1.26% and settling at $97,113. Sellers drove BTC to an intraday low of $94,838 on Sunday as selling pressure increased. However, BTC recovered from this level as sellers lost momentum, rising 0.80% and settling at $97,891. The current session sees BTC marginally up as buyers and sellers look to influence price action.

Experts are convinced that Bitcoin (BTC) will eventually surpass $100,000 and they anticipate this to happen before November ends. However, it’s unclear whether BTC can maintain its value above this threshold. If BTC drops below $100,000, a correction might occur, potentially driving the price down to around $80,000. For now, the market is on edge, watching for Bitcoin to break through the $100,000 mark.

Ethereum (ETH) Price Analysis

Currently, Ethereum (ETH) is having trouble breaking through the $3,400 mark due to substantial selling activity at this point. For several days now, it has been trading within the range of $3,000 to $3,400, starting from November 11. Over the last day, ETH has experienced a decrease of 1.21%. However, looking at the bigger picture, Ethereum has managed to gain nearly 8% over the past week. The beginning of the previous week saw ETH showing positive momentum, recovering from $3,051 to record a 4.37% increase and end at $3,209. However, it started falling on Tuesday, dropping by 3.13% and ending the day at $3,109. The bearish trend continued on Wednesday as ETH declined by 1.25% to close at $3,070.

On Wednesday, Ethereum (ETH) experienced a decrease, but on Thursday, it staged a remarkable surge, climbing by 9.44% to reach $3,360 following an intraday high of $3,388. On Friday, buyers tried to push ETH above $3,400 as it reached an intraday high of $3,427. However, it dipped from this level, dropping 0.96% to settle at $3,328. The weekend saw a boost in buying activity, pushing ETH to an intraday high of $3,502 on Saturday. Yet, the momentum waned, and ETH dropped below $3,400, ending the day at $3,396 after a slight increase of more than 2%. Sellers re-entered the market on Sunday, causing ETH to plummet to a low of $3,286 before recovering to $3,362, a decline of 1.01% compared to Saturday. Currently trading at $3,385, ETH dipped to a low of $3,301 during this session but has since recovered by 0.69%.

Investors aim to elevate Ethereum’s price above the $3,400 threshold. Should this mark be surpassed, we might witness a surge towards $3,500 and potentially even higher prices. Conversely, if sellers gain dominance and cause Ethereum’s value to dip below $3,000, it could slide down to around $2,850.

Solana (SOL) Price Analysis

Over the recent trading periods, Solana (SOL) has seen a substantial drop, battling to surpass $260, while traders aim to push the value below $250. The cryptocurrency has shown high volatility, starting the previous week with a 1.04% growth to reach $239, but then plunged into the red after reaching an intraday peak of $247 on Tuesday, resulting in a decline of 0.89% and settling at $237. The bearish trend continued on Wednesday with a 0.97% drop to $235. However, against the selling pressure, SOL made a strong comeback on Thursday, nearly reaching 9% growth and surpassing $250, settling at $256. The price of SOL exhibited significant volatility on Friday as both buyers and sellers fought for control, leading to a minimal increase in the value.

Over the weekend, SOL dipped into losses as it failed to maintain its position above $260. On Saturday, SOL peaked at $264 but then dropped by 0.78%, ending the day at $254. The downward trend intensified on Sunday as SOL reached a low of $241. However, buyers stepped in to prevent further decline and pushed the price back above $250, closing at $253. Currently, buyers and sellers are vying for control, with sellers aiming to push SOL below $250. If, on the contrary, SOL manages to break through $260 again, we might see a rally toward $280-$290.

Dogecoin (DOGE) Price Analysis

During the current trading day, Dogecoin (DOGE) has seen a drop as it finds difficulty surpassing the $0.45 mark. The digital currency started off last week with a positive trend, recording a 1.37% growth and ending at $0.371. The price peaked at an intraday high of $0.420 on Tuesday, but subsequently fell to close at $0.391. Intense selling activity was observed on Wednesday, causing DOGE to decrease by 3.42% and close at $0.378. However, a recovery was seen on Thursday with a 2.25% increase, bringing the closing price to $0.386.

On Friday, the price of DOGE jumped past $0.40, gaining nearly 7% to reach $0.413. The optimistic feelings towards DOGE grew stronger on Saturday as it peaked at $0.480. However, the buying momentum faded after this point, causing a drop back to $0.43. The following day, Sunday, was marked by significant fluctuations in DOGE’s price as both buyers and sellers vied for control. Consequently, DOGE reached an intraday high of $0.453 and plummeted to an intraday low of $0.399 before stabilizing at $0.430. In the current trading session, DOGE is slightly lower, trading at $0.431.

Polkadot (DOT) Price Analysis

In simpler terms, Polkadot (DOT) experienced a remarkable surge in price, breaking through barriers to reach over $10. On Monday, DOT had a significant increase of nearly 11%, reaching $6. However, it dipped again on Tuesday, decreasing by 3.33% to $5.80. Throughout Wednesday, there was noticeable volatility as buyers tried to push the price back up to $6. DOT reached an intraday high of $6.12 but later fell, resulting in a 1.21% decrease, settling at $5.73.

On Thursday, DOT dipped to a daily low of $5.47 before rebounding with a 3.66% gain and closing at $5.94. The following day, Friday, saw DOT soar almost 12%, reaching $6.63. The positive outlook for DOT strengthened on Saturday as it skyrocketed by an impressive 28.66%, peaking at an intraday high of $9.49 before ending the day at $8.53. On Sunday, DOT hit another intraday high of $10.52 but later retreated to close at $8.83. In the current trading session, DOT is up by more than 3%, as investors aim to drive the price above $10.

Uniswap (UNI) Price Analysis

Over the last few days, Uniswap (UNI) has noticed a resurgence of optimistic feelings, with it breaking through significant resistance points. The recent upward trend for UNI started on Thursday, following a dip to $8.52, where it bounced back. By the end of trading on Thursday, UNI had climbed to an intraday peak of $9.69 before settling at $9.28. On Friday, UNI surged further, gaining nearly 7% to reach $9.91 as bullish sentiment grew even stronger. The positive outlook for UNI intensified over the weekend, with it reaching an intraday high of $11.33 on Saturday. However, the buying momentum waned at this level, causing UNI to slide back to $10.72. Sunday was marked by significant fluctuations in UNI’s price as both buyers and sellers fought for control.

Initially, UNI reached a peak of $11.39 during the day, then dipped to a low of $10.11, but eventually closed at $10.88. Currently in this session, UNI is experiencing a 5.35% increase and is being traded at $11.46.

Arbitrum (ARB) Price Analysis

Arbitrum (ARB) has gained considerable momentum over the past few sessions as buyers look to push it above $0.90. ARB surged past the 200-day SMA on Thursday, reaching an intraday high of $0.86 before declining and settling at $0.77, registering an increase of almost 16%. Buyers retained control on Friday, pushing ARB up by 3.95% to $0.81. Bullish sentiment intensified on Saturday as ARB registered an increase of 5.64% and settled at $0.85.

On Sunday, there was a noticeable surge in market turbulence as both buyers and sellers fought for dominance. This struggle led ARB to reach its lowest intraday price of $0.79 and its highest intraday price of $0.91 before ending the day at $0.86. During the current trading session, the price dipped to an intraday low of $0.82. However, it has since bounced back and is currently experiencing a 1.60% increase, trading at $0.87.

2024-11-25 16:28