These 4 Altcoins Show Strength as Bitcoin Trades Around $100,000

Bitcoin is currently experiencing a tense tug-of-war between the bull and bear camps at the key psychological level of $100,000. Percival, a contributor to CryptoQuant, noted in a blog post on Quicktake on December 6th that Bitcoin's weekly strength is gradually diminishing, suggesting the possibility of market correction and consolidation in the future. However, the short-term uncertainty and price volatility do not change the long-term optimistic view of analysts towards Bitcoin. Quinten François, co-founder of WeRate, stated on platform X that Bitcoin is "entering an exciting phase," which could last for up to 12 months before reaching the peak of the cycle. Along with Bitcoin, Donald Trump's victory in the US presidential election has boosted the price of some altcoins. However, Felix Hartmann, a managing partner at Hartmann Capital, warned on X that hedge funds and development groups may aggressively take profits in altcoins, leading to a severe price decline. So, will the selected altcoins continue to outperform in the short term if Bitcoin enters an accumulation phase? Let's take a look at the 5 cryptocurrencies with the strongest chart structures. BTC Technical Analysis Bitcoin is facing resistance near the important psychological level of $100,000, but the bulls show no signs of rushing to exit the market.

The price fluctuation within the narrow range near the $100,000 mark increases the likelihood of a breakout. If buyers push the price above $104,088, the upward momentum could increase, taking the BTC/USDT pair to $113,331, then $125,000. The important short-term support level is the 20-day exponential moving average (EMA) at $95,285. If this level is broken, it indicates that the bulls are urgently taking profit. The price could drop to $90,000, followed by the 50-day simple moving average (SMA) at $84,110.

Currently, the price is trading on the moving averages, indicating that the bull camp has a slight advantage. However, the price increase may face strong resistance in the range from $101,900 to $104,088. If the price surpasses this range, the BTC/USDT pair could target $113,331. On the other hand, if the price breaks and closes below the moving averages, short-term bulls may take profits. This could pull the price down to $90,000, where new buying pressure is expected. If the price bounces back from $90,000 and rises above the moving averages, it indicates the possibility of forming a price range, with the BTC/USDT pair trading in a range of $90,000 - $104,088 for a period of time. Technical Analysis of DOGE Dogecoin (DOGE) is rising within an ascending channel pattern, indicating that the bulls are in control.

The bulls have tried to push the price above the $0.48 resistance level, but the bears have held strong. If the price rises from the current level or from the 20-day EMA at $0.41, the bulls will once again attempt to push the DOGE/USDT pair towards the resistance line of the channel. However, the bears are expected to strongly defend this resistance line, as a break above it could lead the DOGE/USDT pair to surge to $0.60. If the bears want to stop the rally, they need to pull the price below the support line of the channel. At that point, the price can drop to the 50-day SMA at $0.30.

Currently, the price is finding support at the 20-day EMA, indicating positive sentiment. The bulls will continue to try to break through the $0.48 barrier. If successful, the price can rise to the resistance line of the channel. On the contrary, if the price sharply drops from the resistance level and breaks the 20 EMA line, the DOGE/USDT pair may continue trading within the channel for some more time. Technical Analysis SUI Sui (SUI) is encountering resistance near the $4.50 level, but the bulls are still holding their ground against pressure from the bears, indicating an expectation of further price increases.

The SUI/USDT pair could drop to $3.94, followed by the 20-day EMA at $3.66. If the price rebounds from the 20-day EMA, the bulls will attempt to surpass the resistance level at $4.50. If successful, the SUI/USDT pair could enter the next uptrend towards $5.31. However, a small concern is the bearish divergence signal forming on the RSI indicator. If the price breaks below the 20-day EMA line, it indicates that the bulls are taking profits, pulling the price down to the 50-day SMA line at $2.93.

The inability to surpass the $4.50 level could cause this token to drop to the $4 level. This is an important support level to watch, as if the price strongly rebounds from this level, the possibility of the price rising back above $4.50 will be higher. On the contrary, if the price breaks and closes below $4, it shows that the bears are regaining control. In that case, the price could decline to the 50-SMA. If this support level is also broken, the token could plummet to $3. Technical Analysis PEPE Currently, the price of PEPE ($0.00002668) has reached the resistance level of $0.000027, where the bull and bear camps are fiercely fighting for control.

The 20-day EMA ($0,000021) is sloping upwards, and the RSI is in overbought territory, indicating an advantage for the bulls. If the bulls maintain the price above $0,000027, the PEPE/USDT pair could rise to $0,000035, and even further to $0,000044. However, if the price reverses from $0.000027, it will indicate that the bearish side is fiercely defending this level. In that case, the price may drop to the 20-day EMA. The bears need to push the price below the 20-day EMA to regain the advantage.

Recently, the price has dropped below $0.000024, but the bulls have taken advantage of the opportunity to buy when the price touched the 20-day EMA. Currently, the bulls continue to make efforts to push the price above $0.000027. If successful, the price could rise sharply to $0.000035. On the other hand, if the bearish side wants to counterattack, they need to quickly pull the price below the moving averages. At that time, this currency pair could drop to a strong support level near $0.000017. Technical Analysis FTM Currently, the Fantom price ($1.31) has broken through the $1.23 resistance on December 2. The bulls successfully blocked the bears' attempts to pull the price below this breakout, indicating strong buying at small price drops.

The 20-day EMA is rising ($1.09), along with the RSI in overbought territory, indicating that the bulls have the advantage. The next target the bulls are aiming for is to push the price up to $1.68, where they may encounter strong resistance. If they can surpass this level, the price could continue to rise to $2. The important support level to watch on the downside is $1.23. If the price breaks below and closes below this level, it indicates weakening buying momentum. At that point, the FTM/USDT pair could drop to the 20-day EMA.

Currently, the price has bounced up from the EMA 20, indicating that the bulls are buying strongly on minor corrections. If the price surpasses the $1.39 level, the currency pair may continue the upward trend with the next target at $1.68. On the contrary, if the price drops sharply from $1.39 and breaks the EMA 20, it indicates that the bearish side is operating strongly at higher price levels. In that case, the price could drop to the 50-SMA. If this support level is broken, the short-term advantage will lean towards the bearish side. DYOR! #Write2Win #Write&Earn $FTM {spot}(FTMUSDT)