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    Bitcoin ETFs Surge Past $100 Billion as Market Hits ‘Extreme Greed’: Key Crypto Levels and Concerns

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    Bitcoin’s recent run has been bolstered by significant inflows into US Bitcoin ETFs, which have crossed $100 billion. However, Material Indicators co-founder Keith Alan warns against selling at the current high rates. Market sentiment is in “extreme greed” territory, which could lead to a pullback. Key cryptocurrency levels to watch are: $100,000 for Bitcoin, $3,000 for Ether, $248 for Solana, $594 for Binance Coin, $1.27 for XRP, $0.34 for Dogecoin, $0.80 for Cardano, resistance line for Avalanche, $0.000023 for Shiba Inu, and the $4.72 to $4.44 zone for Toncoin.

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    Bitcoin (BTC) is having quite the hot streak, almost reaching the eye-popping price of $100,000 on November 22. Keith Alan, a co-founder of Material Indicators, warns that those who are trying to sell at the current high rates could find themselves challenged.

    The strong bitcoin performance is buoyed by sizable inflows into US spot Bitcoin exchange-traded funds. Eric Balchunas, a Bloomberg ETF analyst, noted that the assets in US spot Bitcoin ETFs crossed a monumental $100 billion mark on November 21. This is pretty close to the size of the gold ETFs, making up about 82% of the total.

    Just a word of caution for you new traders out there, who tend to chase high prices in a bullish market: tread carefully. A sudden rally, like the one we’ve observed these past few days, has put investor sentiment into the “extreme greed” category, measured at a whopping 87 on the Crypto Fear & Greed Index from CoinMarketCap. This could mean we may see a short-term pullback.

    Will the Bitcoin price soar past $100,000 or is a price correction on the horizon? What’s going to happen to altcoins? Let’s take a look at the charts of the top 10 cryptocurrencies to learn more.

    Bitcoin’s price has been climbing steadily, but could hit a resistance at the $100,000 mark. If Bitcoin investors hold their ground and anticipate a continued climb, the price could increase to $113,331 and then to $125,000. However, a dip below the current upward trend may cause short-term traders to sell, potentially dropping the price to the 20-day exponential moving average of $86,473. If the price dips further, it might suggest a bearish turn.

    Ether (ETH) showed positive movement, bouncing off the 20-day EMA of $3,042 and breaking the $3,225 resistance on November 21, suggesting that the bulls are attempting to seize control. If buyers can break the downward trend line, ETH could climb to $3,900 and eventually to $4,094. However, if the price plummets below $3,000, it could drop to $2,850, marking an important defense line for the bulls.

    Solana (SOL) gained momentum after breaking the $249 barrier on November 21 and hit a new record high above $264 on November 22. No overhead resistance to a new high usually points to further gains. If the price maintains above $248, SOL is likely to surge to $304. Watch out for support at the 20-day EMA of $218. If the price tumbles below the 20-day EMA, it could signal the bulls are exiting, potentially causing a short-term top below $200.

    Binance Coin (BNB) bounced off the 50-day SMA of $594 on November 21, demonstrating positive sentiment as traders are buying during dips. The BNB price could increase to $667, and if this barrier is broken, it could further climb to $722 and then possibly to $810. Watch out for the key support at the 50-day SMA. If this level is not maintained, the price could drop to the upward trend line, prolonging the rise of the next uptrend.

    XRP showed a positive trend after buyers pushed the price past the $1.27 resistance on November 22. Currently, XRP could reach $1.70, but be aware that vertical rallies are not usually sustainable in the long term. The first support line is at the $1.27 breakout level. If the price drops below $1.27, buyers might start to sell, causing further price drops towards $1.

    Dogecoin (DOGE) has been stabilizing between $0.34 and $0.44 recently. The upward trend of the 20-day EMA of $0.32 and the overbought RSI suggest a buyers’ market. If the bulls can push the price above $0.44, DOGE could rally to $0.50 and then to $0.59.

    Cardano (ADA) closed above the $0.80 hurdle on November 20, signaling a potential upward move. Currently, the bulls are trying to push the price to the psychological level of $1, which is expected to act as a strong resistance. If the price falls from $1, but does not dip below $0.80, it suggests that the bulls can handle this level. This could then see ADA breaking through the $1 barrier and potentially heading towards $1.25.

    Avalanche (AVAX) surpassed the resistance line of the ascending channel pattern on November 22, indicating a bullish trend. If the price holds above the resistance line, the AVAX could rise to $42 and subsequently to $50.

    Shiba Inu (SHIB) buyers seem to be buying on the dips, pushing the price from the 20-day EMA of $0.000023 on November 21. If the price can break above the $0.000026 resistance level, SHIB could reach the $0.000029 level. If this happens, this would complete a bullish inverted head-and-shoulders pattern, moving towards $0.000039 and then the pattern target of $0.000047.

    Toncoin (TON) rose from the moving averages on November 21, indicating that the bulls are trying to form a higher low. If the price can maintain above the $4.72 to $4.44 support zone, then TON could rise to $6 and then potentially to $7.

    Just as a reminder, investing and trading in cryptocurrency comes with risks, so always do your own research before making any decisions.

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