Bitcoin price is recovering higher above the $95,000 level. BTC is showing positive signs and aims for a fresh increase above the $98,000 level.

• Bitcoin started a fresh increase above the $95,000 zone.
• The price is trading above $95,500 and the 100 hourly Simple moving average.
• There was a break above a short-term contracting triangle with resistance at $95,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could gain bullish momentum if it clears the $97,000 resistance zone.

Bitcoin Price Eyes More Upsides

Bitcoin price remained stable above the $93,500 zone. BTC formed a base and started a fresh increase above the $94,500 resistance zone. The bulls were able to push the price above the $95,500 resistance zone.

There was a break above a short-term contracting triangle with resistance at $95,500 on the hourly chart of the BTC/USD pair. The pair climbed above the 61.8% Fib retracement level of the downward wave from the $98,880 swing high to the $90,735 low.

Bitcoin price is now trading above $95,500 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $97,000 level. It is near the 76.4% Fib retracement level of the downward wave from the $98,880 swing high to the $90,735 low.

The first key resistance is near the $98,500 level. A clear move above the $98,500 resistance might send the price higher. The next key resistance could be $98,800. A close above the $98,800 resistance might initiate more gains. In the stated case, the price could rise and test the $100,000 resistance level. Any more gains might send the price toward the $102,000 level.

Another Decline In BTC?

If Bitcoin fails to rise above the $97,000 resistance zone, it could start another downside correction. Immediate support on the downside is near the $95,500 level.

The first major support is near the $94,500 level. The next support is now near the $93,200 zone. Any more losses might send the price toward the $91,500 support in the near term.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $95,500, followed by $94,500.

Major Resistance Levels – $97,000, and $98,800.

This November, many altcoins have shown that they are ready to challenge Bitcoin’s (BTC) dominance. As a result, some of these cryptocurrency are part of the top trending assets.

While outperforming BTC is not the only reason these cryptos are on the list, BeInCrypto reveals other reasons in this analysis. Using CoinGecko data, the top three altcoins trending today, November 28, include Thena (THE), Sui (SUI), and Just a Chill Guy (CHILLGUY)

THENA (THE)

THE, the native token of the decentralized exchange built on the BNB Chain, is part of the trending altcoins today due to its price increase. In the last 24 hours, THENA’s price has increased by 130% and currently sits at $3.88.

This development was also aided by Binance’s support of the cryptocurrency through its listing some days ago. Before the development, THE was swinging between $0.15 and $0.50. However, it appears that the Binance listing has brought more attention to the altcoin.

As a result, the volume has also increased. Should volume continue to climb as well as the price, then THE could hit $5. On the other hand, if profit-taking increases, this might not happen. In that case, the value could decline below $2.

Sui (SUI)

Like THENA, Sui is also one of the trending altcoins today due to its price increase. However, it is important to note that the crypto did not replicate THE’s performance. Instead, it climbed slightly by 5% in the last 24 hours.

Despite the altcoin’s increase, the Money Flow Index (MFI) on the daily chart, has dropped below the neutral line. The MFI measures the level of buying and selling pressure around a cryptocurrency.

When it rises, it means buying pressure in the present. However, since it has dropped in SUI’s case, it indicates selling pressure. Considering this current condition, the altcoin’s value might drop to $2.38.

But if buying pressure comes into play again, this forecast might be invalidated. In that situation, SUI’s price might rally above $3.95.

Just a Chill Guy (CHILLGUY) 

CHILLGUY is one of the trending altcoins today, with reasons similar to THENA. Just yesterday, Binance listed the Solana meme coin on its perpetual market, causing a brief spike in the token’s value.

However, in the last 24 hours, the price has decreased by 16.40%, suggesting that the listing was a “buy the rumor, sell the news” event. On the 4-hour chart, the volume around the token has decreased. Hence, the price is likely to continue to drop, with possible targets around $0.45. 

On the other hand, if interest in CHILLGUY jumps again, this might not happen, and the price might rise to $0.70.

Dogecoin (DOGE) Price recently surged to $0.48, its highest level since 2021, while surpassing Porsche in market capitalization at $58 billion.

However, indicators like the EMA lines suggest the current uptrend may lose momentum, with a potential reversal on the horizon.

DOGE Ichimoku Cloud Shows a Potential Shift In Sentiment

The Ichimoku Cloud chart for Dogecoin shows a consolidation phase. The price currently trades near the Kijun-Sen (orange line) and Tenkan-Sen (blue line).

DOGE price is hovering around the edge of the cloud (Senkou Span A and B), indicating uncertainty in momentum. While the price has yet to fall decisively below the cloud, its proximity signals that the bullish momentum is weakening, and the cloud may now act as a key support zone.

The green cloud structure suggests mid-term support is intact for now, but the lack of strong upward movement above the Tenkan-Sen and Kijun-Sen lines reflects hesitation in the market.

If DOGE price fails to reclaim higher levels and slips below the cloud, it could signal the start of a bearish trend. On the other hand, a clear move above the Kijun-Sen with increasing volume could reignite bullish momentum and push the price higher.

Dogecoin Current Trend Isn’t Strong Anymore

The DOGE DMI chart shows that its ADX has dropped to 18.7 from 25 in just one day, signaling a weakening trend. The ADX, or Average Directional Index, measures the strength of a trend, regardless of direction, on a scale from 0 to 100.

Values above 25 indicate a significant trend, while values below 20 suggest a weak or no trend. This drop in ADX suggests that DOGE recent momentum is losing steam, and the market could be entering a consolidation phase.

With the positive directional indicator (D+) at 19.3 and the negative directional indicator (D-) at 17.7, the marginal dominance of D+ over D- reflects a slight bullish bias. However, the narrow gap between the two indicators highlights an indecisive market, with neither buyers nor sellers strongly in control.

For Dogecoin to establish a clear trend, either D+ needs to rise significantly to confirm renewed bullish momentum, or D- must increase to indicate growing bearish pressure. Until then, price movements are likely to remain range-bound.

DOGE Price Prediction: Can It Reach $0.50 Soon?

DOGE price recently reached its highest level since 2021, peaking at $0.48 on November 23. It now boasts a market capitalization of $58 billion, surpassing the iconic automaker Porsche’s $56 billion.

If DOGE price can regain its bullish momentum, it could retest the $0.48 resistance level and potentially rise to $0.50 or even $0.60, moving closer to its all-time high.

However, DOGE’s EMA lines indicate that the current trend may reverse into a downtrend, as the formation of a death cross could occur soon. If Dogecoin price breaks below the critical $0.36 support level, it could decline further to $0.14, marking its lowest level since early November.