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.

BNB Price is just 10% away from its previous all-time high, surging 181.79% this year as it continues to display strong market performance. However, recent indicators, including the ADX and Ichimoku Cloud, suggest that the current uptrend may be losing steam.

While the bullish structure remains intact, with key resistances within reach, momentum will need to strengthen for BNB to break its previous all-time high.

BNB Current Uptrend Could Not Last

BNB ADX is currently at 19, down from over 30 just two days ago, signaling a weakening trend. The ADX, or Average Directional Index, measures the strength of a trend on a scale from 0 to 100 without indicating its direction.

Values above 25 suggest a strong trend, while values below 20 indicate a weak or no trend. The decline in ADX suggests that while BNB price remains in an uptrend, the momentum driving it has significantly weakened.

With the ADX at 19, BNB current uptrend appears to lack the strength seen in recent days, indicating a potential phase of consolidation or reduced buying pressure.

For the uptrend to regain strength, the ADX would need to rise above 25, confirming renewed momentum. Until then, BNB’s price may move sideways or face increased resistance in maintaining its bullish trajectory.

BNB Ichimoku Cloud Shows Mixed Signals

The Ichimoku Cloud chart for BNB currently shows a mixed trend. The price is slightly above the Kijun-Sen (orange line) and Tenkan-Sen (blue line), signaling some bullish momentum.

However, the price hovers near the edge of the cloud (Senkou Span A and B), indicating the trend is not decisively strong yet. The green cloud ahead suggests some mid-term support, but its relatively flat nature signals limited momentum in either direction.

For BNB price to regain strong bullish momentum, it needs to break further above the Kijun-Sen and away from the cloud’s edge. If it fails to do so and drops back below the cloud, it could signal the beginning of a bearish trend.

Conversely, maintaining its position above the cloud and seeing the Tenkan-Sen rise above the Kijun-Sen could reinforce a stronger uptrend.

BNB Price Prediction: Will BNB Rise More Than 10% And Reach A New All-Time High?

BNB’s EMA lines currently display a bullish setup, with short-term EMAs positioned above long-term ones. This alignment suggests the uptrend remains intact for now, and if BNB price regains momentum, it could break key resistances at $667 and $687.

A successful breakout at these levels could propel the price toward its previous all-time high of $719.84 and potentially set new records. The EMAs continue to support bullish sentiment as long as the price stays above them.

However, indicators like the ADX and Ichimoku Cloud suggest that the uptrend may be losing strength. If a downtrend emerges, BNB price could retest critical support levels at $603 or even $593.

A drop below these supports could signal a deeper correction, undermining the current bullish structure.