Key Takeaways
- Bitcoin bulls remain in a poll position despite price ranges as a break above its bullish ascending wedge; bulls could push for $100k.
- Solana bulls eye the key support zone of 220 or 230 for more buy position as the price could hit $300 or more before the end of 2024.
- SUI bulls are performing exceedingly well under the radar, and $3.3-3.1 support could open opportunities for more buy positions.
After showing incredible price action in the past few weeks, rallying from a region of $68,500 to a high of $92,500, Bitcoin (BTC) is beginning to look as if it would be short of price momentum. Bitcoin (BTC) struggles to trade above the region of $88,500 to $92,300, forming a bullish continuation pattern.
Despite Bitcoin’s (BTC) price struggling to continue its intended rally to the $100k mark, on-chain data shows whales and institutional interest in BTC haven’t faded. They continue accumulating the price of BTC at every little retracement.
Although altcoins have struggled to keep up with Bitcoin’s price range movement, the likes of Solana and SUI have shown remarkable price action in the past few days and could be headed for new highs if Bitcoin rallies to its intended mark price.
Source – Crypto market data from Coin360
Crypto market data from Coin360 shows Bitcoin (BTC) continues to look strong as BTC bulls dominate prices above $88k as another altcoin in the market struggles to catch up with SOL and SUI, much on the radar.
Let us discuss some key level bulls that are watching to build positions for BTC, SOL, and SUI ahead of a major rally as we head into the close of the year 2024.
$100k Bitcoin (BTC) Before End Of Year?
Source – BTC price analysis from TradingView
For days now, Bitcoin bears have been trying to sabotage the price of BTC to a region of $88k and even lower, but the bulls have remained resolute, holding the price of Bitcoin from slipping lower.
With Bitcoin’s price looking stronger, the psychological $100k will be achieved, although the price continues in a range movement. Despite this range movement for days now, the price of Bitcoin is forcing a bullish continuation pattern called an ascending triangle or wedge.
From the chart above, if Bitcoin bulls bulldoze this wedge, acting as a minor resistance, then we could see the price of BTC pushing much higher to a region of $95k and possibly $100k by year-end.
Solana (SOL) Price Analysis
Source – SOL Price Chart From TradingView
The price chart above shows Soalan bulls dominating price with a series of swing highs. Buyers would be looking at key zones to buy into SOL price, considering how bullish its price has been for the past weeks.
Higher timeframes of 4HR and 1D suggest bulls could be looking to buy around $230 and $220, respectively. $220 looks much stronger as it coincides with the 50-day EMA (Exponential Moving Average), which acts as strong support for bulls.
A break above $258 for SOL could see its price trade high of $300 and possibly $500 towards the end of 2024 or 2025.
SUI Could Hit $10 Mark in 2025
Source – SUI Price Chart From TradingView
The SUI price chart has remained bullish under Bitcoin’s radar as it continues to trend high, showing much price action and high volume in its ecosystem. SUI is a good project that has shown tremendous growth, as analysts believe it could hit $5 before the end of 2024 and possibly $10 or more in 2025.
Strong support for bulls remains $3.3-$3.1, as this region acts as a good buy zone for bulls looking to add more to their position. The price could aim at $5.
While these price actions for Bitcoin, SOL, and SUI could play out, it is important to carry out due diligence before investing in cryptocurrency assets.
