Bitcoin price retains 8% gains as attention switches to Ethereum comeback
2024-11-29

Bitcoin circled $96,000 on Nov. 29 as a “fantastic” support retest gave way to consolidation.
Bitcoin holds ground after bulls protect $90,000
Data from Cointelegraph Markets Pro and TradingView showed Bitcoin BTCUSD price volatility cooling after experiencing rapid gains on Nov. 27, ending in a close just below $96,000 on Bitstamp.
BTCUSD refused to cave to selling pressure, leaving $90,000 unviolated and instead respecting a new support level forming over the past two weeks.
“Fantastic retest of $91,000 as support,” trader and analyst Rekt Capital said, striking a positive tone on the latest market moves on X.

Fellow market participant The Kingfisher, known for covering liquidation levels on exchange order books, noted liquidity above and below the spot price being hunted on the day.
The latest data from monitoring resource CoinGlass confirmed that the bulk of ask liquidity was laddered above $97,000 at the time of writing.
“High leverage may trigger potential liquidations in the short term,” IT Tech, a contributor at onchain analytics platform CryptoQuant, told X followers while responding to the data.
Earlier, Cointelegraph reported on manipulatory moves by large-volume traders impacting short-term BTC price performance.
ETH price action sees $4K target return
Meanwhile, Traders focused on altcoins, specifically the largest altcoin, Ether (ETH), which initiated a long-awaited upside over the week.
Reacting, Rekt Capital highlighted the $4,000 mark as a potential near-term bullish target.
“Ethereum has revisited the ~$3700 resistance of its main market structure (light blue),” he wrote alongside an illustrative chart.

Trader Credible Crypto considered the odds of a sub-$3,000 dip on ETHUSD first.
“Recent strength on $ETH is nice to see but we are now approaching the first ‘trouble area’ on the ETH/BTC pairing,” part of a corresponding X post said. 

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.