Bitcoin near $100,000 facing profit-taking, Ethereum heading to $4,000, Solana breaks downtrend

From Investing.com
December 7, 2024 2:30 AM:

Bitcoin has approached the $100,000 mark, facing profit-taking pressure preventing a clear breakthrough. Despite this, it remains above key support levels and maintains a bullish trend. Improved macroeconomic conditions and institutional involvement are needed to sustain upward momentum and surpass $100,000, showcasing Bitcoin’s resilience as a store of value.

Ethereum is on track to reach $4,000 but faces resistance as buying interest wanes near this price level. The asset’s recovery is supported by strong moving averages, but a breakout above $4,000 is crucial to indicate further growth potential. Traders should monitor on-chain metrics and watch for signs of weakness or breakout.

Solana has broken its downtrend, surpassing the $240 level, signaling a bullish trend. However, decreasing trading volume raises concerns about the breakout’s strength. Recovery in trading volume is needed to confirm the breakout and push Solana towards $260 and higher. Investors should monitor support levels and market participation for further insights.

Read more at Investing.com: What’s Next? Did Bitcoin (BTC) Reach Top? Solana (SOL) Finally Breaks Downtrend By U.Today