Bitcoin’s (BTC) price has surged by 21.70% over the past seven days, repeatedly reaching new all-time highs. Currently, BTC is roughly 10% below the $100,000 milestone, with the uptrend showing exceptional strength, as indicated by technical markers like the DMI and EMA lines.

With market sentiment shifting into a phase of growing confidence but not yet reaching euphoria, there is still room for growth before potential corrections. However, while momentum remains positive, traders should stay cautious of possible retracements as Bitcoin moves toward this significant milestone.

Bitcoin’s Current Uptrend Is Very Strong

The BTC DMI chart highlights Bitcoin’s strong uptrend. The Average Directional Index (ADX) is currently at 48, signaling significant trend strength. The ADX is a tool that measures how strong a trend is—values above 25 suggest a strong trend and anything above 40 is considered very strong.

A few days ago, the ADX was nearing 60, indicating that the uptrend was even more powerful then.

The Directional Movement Index (+DI and -DI) further clarifies this trend’s direction. With +DI at 30.37, the data indicates a prevailing upward movement, while the -DI at 13.67 suggests weaker selling pressure. This combination shows that buyers currently have a firm upper hand over sellers, reinforcing Bitcoin’s bullish momentum.

The difference between these values supports the overall strength of the current uptrend, suggesting that bullish forces are still dominating the market despite the recent surge.

Bitcoin NUPL Is Still Far From Euphoria

Bitcoin’s NUPL (Net Unrealized Profit/Loss) metric currently sits at 0.62, placing it in the “Belief – Denial” stage. NUPL measures the total unrealized profit or loss of all Bitcoin holders, helping to identify the broader sentiment in the market.

At 0.62, market sentiment has moved from cautious belief to growing confidence but not yet reaching extreme optimism.

Despite being in the “Belief – Denial” stage, the NUPL level is still significantly below 0.7, the threshold for “Euphoria – Greed.” Historically, this next level has marked a period when Bitcoin often faces strong corrections as market sentiment shifts toward unsustainable greed.

With the current NUPL value below this critical threshold, the BTC price can still grow before reaching levels typically associated with overheating.

BTC Price Prediction: Will BTC Reach $100,000 In November?

Bitcoin’s EMA lines are currently showing a very strong bullish setup, with the price sitting above all of them and short-term EMAs positioned above the long-term ones.

This alignment is a classic indicator of a well-supported uptrend, suggesting that momentum is in favor of further gains.

BTC’s price is also just roughly 10% below the historic $100,000 mark, and, given the trend’s current strength and supportive metrics like NUPL, reaching this milestone seems possible in the near future. However, corrections are always possible before a new all-time high is established.

If the trend loses strength, Bitcoin price could face a retracement, potentially testing key support levels at $85,000 and $78,400.

The price of the leading meme coin, Dogecoin (DOGE), has recently witnessed a meteoric rise. Rallying by 111% over the past week, the coin currently trades at a three-year high of $0.40. 

However, technical indicators suggest that the rally may be losing momentum, and a potential pullback could be on the horizon.

Dogecoin Is Overbought

Dogecoin’s price has climbed 7% in the past 24 hours. However, during the same period, its trading volume declined by 33%, confirming the gradual surge in the meme coin’s selloffs. 

When an asset’s price climbs but trading volume drops, it signals a weakening in the rally’s momentum. Lower trading volume during a price increase indicates that fewer investors are actively buying at these higher levels, suggesting reduced demand. This divergence is a bearish sign, as it means that the price increase lacks the strong buying support needed for a sustained rally.

Moreover, readings from the DOGE/USD one-day chart show that the altcoin has been overbought and is due for a pullback. The coin’s Relative Strength Index (RSI) is the first indication of this. As of this writing, the indicator’s value is 92.86, its highest since March.

The RSI measures an asset’s overbought and oversold market conditions, and it ranges between 0 and 100. Values above 70 indicate that the asset is overbought and due for a correction. Conversely, values under 30 suggest that the asset is oversold and may witness a rebound.

DOGE’s RSI reading of 92.86 indicates that it is significantly overbought and that a price correction is inevitable in the near term.

DOGE Price Prediction: Fall Under $0.30 Imminent

DOGE’s price is currently placed above the upper band of its Bollinger Bands indicator, confirming the possibility of a price retracement in the short term.

The Bollinger Bands indicator measures market volatility and identifies possible buy and sell signals. It comprises three primary components: the middle band, upper band, and lower band. 

When an asset’s price rises above the upper band, it suggests that the asset may be overbought and overextended. Traders interpret this as a signal of potential downward pressure and take it as an opportunity to sell and lock in profits.

DOGE is currently trading at $0.40. Once a price correction begins, DOGE will likely test support at the $0.38 level. However, if buying pressure is weak and bulls cannot hold this line, the coin could drop sharply to $0.31.

Further selloffs at this point may drive the price even lower to $0.25.

If demand strengthens, the Dogecoin price rally could reach $0.43, its peak so far during this bullish cycle, and potentially push toward $0.47—a level last seen in May 2021.

Ethereum’s recent price movement has shown a decline following a rally, even after ETH Whales made a comeback and Bitcoin reached a new all-time high. 

While ETH had gained momentum alongside the broader market surge, this recent drop could hinder a significant shift in Ethereum’s price trajectory, raising questions about its short-term outlook.

Ethereum Whales Aren’t Strong Enough

Ethereum whale activity has spiked, with transaction volume reaching over $13.8 billion, a three-month high. This uptick signals renewed interest from large wallet holders, a group that significantly influences ETH’s price trends. Such whale participation often leads to short-term surges in Ethereum’s value, as witnessed in the recent rally.

Despite the whale-driven increase, Ethereum’s price has faced resistance in maintaining its peak. This pattern reflects a mix of enthusiasm and caution among investors, as the heightened whale activity has yet to propel ETH past critical levels. The surge in whale activity may contribute to Ethereum’s ongoing resilience, but it also reveals the volatility inherent in the current market sentiment.

On the macro side, Ethereum’s momentum is being tested as its EMAs (Exponential Moving Averages) inch closer to forming a Golden Cross. The 50-day EMA nearing a crossover with the 200-day EMA would confirm a Golden Cross, traditionally a bullish signal. However, ETH’s recent price dip may delay this bullish indicator.

The Golden Cross remains a crucial marker for Ethereum’s potential upward momentum, as a successful formation would validate a more sustained uptrend. Until then, the delay may result in more cautious trading as investors await clearer signals that the altcoin’s current trend can turn positive.

ETH Price Prediction: Finding Support

Last week, Ethereum’s price surged by 39%, pushing it above $3,327. Despite this gain, ETH failed to secure $3,327 as a support level, leading to a 6% drop over the last 72 hours. This downturn has pulled Ethereum further from the critical $3,524 resistance.

If the current decline continues, ETH could test the support level at $2,930. This could act as a buffer but might also signal additional downward movement if breached. 

However, a reversal fueled by Bitcoin’s ongoing strength could help ETH regain momentum toward $3,327. Turning this level into support would invalidate the bearish outlook and position Ethereum to target $3,524 as the next milestone.