With the crypto bull market in full swing, traders highly anticipate Bitcoin breaking $100k. Current projections suggest that if Bitcoin breaks that level, it is headed towards $120k. At the same time, this momentum is expected to drive Solana to $300 and Cutoshi, the fresh ERC-20 token to a new high.
Bitcoin’s Price Prediction Sets It At $120k
The king of crypto, Bitcoin (BTC), is driving this market wave. The coin recently reached its all-time high of $98,537 and is currently just below the $100,000 level. Market analysts are widely anticipating it to break this level and reach a new high.
Currently, Bitcoin is trading at $93,587, a 39% increase in the last 30 days. Technicals are mixed, but overall are showing buy signals. For one, the Relative Strength Index for Bitcoin is 78, which is deep in the overbought level. However, Moving averages are still significantly below Bitcoin’s current price level, which suggests that there’s still upward momentum.
Source: Barchart
As pointed out by many analysts, Bitcoin’s next resistance is just above the $100k level. This is both a psychological level and a convergence between multiple pivot point resistance levels. If the coin breaks through this resistance, its next level will be at $120k. This was recently pointed out by QCP Capital. The firm cited positive momentum after the election news.
Solana’s Next Target Is At $300
The bull market has also boosted altcoins, especially Solana (SOL). This token is significantly exposed to regulatory news and recent events have changed its long-term outlook. Experts now put Solana’s latest target at $300, if it can continue its momentum.
On November 23, Solana reached its ATH of $263.83, surpassing its earlier ATH from 2021. What drove this increase were the anticipated regulatory changes since Donald Trump’s election win. These changes were partially confirmed after the SEC Chair Gary Gensler announced his resignation.
With these changes, Solana is poised to get its own ETFs, which open up avenues for institutional investments. As major institutions may soon be able to invest in Solana, markets are pricing Solana up. For this reason, the technicals for Solana are strong.
Source: Barchart
The main resistances are just above its ATH, at $269. If Solana breaks this level from its current $235, the token is poised to go toward $300. The token is currently trading both above its simple moving average and exponential moving averages, indicating a strong buy.
Cutoshi Becomes Viral After Raising $1 Million
As Bitcoin and Solana are seeing bullish price predictions, another token that is gaining attention during the bull market is Cutoshi (CUTO). This memeFi token managed to take advantage of the bull market by raising $1 million for its upcoming DeFi project.
The project will use these proceeds to invest in a decentralized ecosystem controlled by its community. Taking inspiration from Bitcoin creator Satoshi, Cutoshi will favor decentralization and privacy. At the heart of this ecosystem will be its multichain DEX, whose goal is to remove barriers for DeFi users. The project will also feature a learning platform to help onboard new users.
Crypto traders have indicated that barriers to entry and lack of education are the main reasons they don’t use DeFi. This is true even for traders concerned about privacy and the custody of their assets. If projects like Cutoshi can bring more people into the DeFi space, they will play a key role in making crypto more decentralized.
For more information on the Cutoshi (CUTO) Presale:
https://cutoshi.com/
Join and become a community member:
https://twitter.com/CutoshiToken
https://t.me/cutoshi