Bitcoin price move to $100k opens doors for SHIB, FIL, MNT, AAVE

Bitcoin (BTC) is strengthening below $100,000, which suggests that the bulls are not rushing to the exit as they expect the ups and downs to continue. Raoul Pal, founder and CEO of Global Macro Investor, released a chart on X suggesting that Bitcoin could form a domestic high above $110,000 in January.

Many analysts remain bullish on next year. According to Tom Lee, co-founder and head of research at Fundstrat Global Advisors, Bitcoin could soar to $250,000 by 2025.

It's not just Bitcoin that's pulling the spotlight. Traders seem to be slowly shifting their focus to altcoins. Bitcoin's dominance has broken below its two-year support line, indicating that crypto markets are “officially in altseason” in a post on Xx by renowned analyst Mikubul Crypto.

Could Bitcoin rise above $100,000 by starting a further rally in altcoins? Let's take a look at the top 5 cryptocurrencies with a solid chart structure.

Bitcoin price analysis

Bitcoin is facing resistance near the psychological critical level of $100,000, but a positive sign is that the price is staying above the higher line.

The upward trend of the 20-day EMA ($92,114) and the relative strength index (RSI) in the positive territory indicate that the bulls are in control. That adds up to more than $100,000. If this happens, the BTC/USDT pair may rise to $113,331 and then to $125,000.

To weaken the bullish momentum, sellers should push the price below the 20-day EMA. The pair could drop to $85,000, which could attract buyers.

The moving averages on the 4-hour chart are flattened, and the RSI is above the midpoint, indicating a balance between supply and demand. The pair can put together between $100,000 and $90,000 for a limited time.

A break above $100,000 indicates that buyers are holding the selling pressure. That can start taking about $113,331. On the other hand, a break below $90,000 could tempt short-term buyers to book profits, which would drag the price towards $85,000.

Shiba Inu price analysis

Shiba Inu (SHIB) rose above the $0.000030 resistance on December 1, completing a bullish reversal head and shoulders pattern.

If buyers hold the price above $0.000030, the SHIB/USDT pair may move to $0.000039. This level could pose a strong challenge, but if buyers prevail, the pair could target the $0.000047 pattern.

Alternatively, if the price fails to hold above $0.000030, it indicates that the gap may be a bull trap. The pair may slide towards the 20-day EMA ($0.000025), which is expected to attract buyers.

The pair closed above the $0.000030 resistance on the 4-hour chart, but the bears cannot easily give up. They try to bring the price back below the breakeven level. If they can pull through, the pair may fall towards the 20-EMA.

Contrary to this assumption, if the price stays above $0.000030, it indicates that the level may act as a new floor. There is minor resistance at $0.000035, but a crossover is expected. That could start a trip to $0.000039.

Filecoin price analysis

Filecoin (FIL) closed above $6.77 on November 30, completing a bullish circle bottom pattern.

The bears will try to push the price below the $6.77 level and trap the aggressive bulls. If it manages to do that, the FIL/USDT pair could drop to the 20-day EMA ($5.33). Buyers should strongly defend the 20-day EMA if they want to maintain positive sentiment.

If the price changes from the current level and goes above $7.33, it indicates that the bulls have turned the $6.77 level into support. That rally potential increases to $9.34.

The bulls and bears are seeing a tough fight at the $6.77 level. The rising moving average and RSI on the 4-hour chart indicate the upside for buyers in the overbought territory. If the price changes and is above $7.33, it indicates the resumption of the upward movement.

Conversely, a break below $6.77 could sink the pair to the 20-EMA and then the 50-SMA. To get back into the driver's seat, sellers need to keep the price below the moving average.

Related: Bitcoin Breaks Records With Largest $26K Monthly BTC Price Gain

Mantle protocol cost analysis

The bulls are attempting to initiate an upward move by pushing Mantle (MNT) above the overhead resistance at $0.94.

If they succeed, the MNT / USDT pair can rise to $1.10, the bears are expected to have a strong defense again.

If the price fails to hold above $0.94, it indicates that bears are highly active. The pair may drop to the 20-day EMA ($0.81), a necessary level to defend the bulls. If the price rebounds strongly from the 20-day EMA, the possibility of a rally above $0.94 increases.

The bears will come back into play if the price washes below the 20-day EMA. The pair can move down to the 50-day SMA ($0.69).

Both moving averages are trending higher on the 4-hour chart, and the RSI is near the overbought zone, indicating buyers are buying. Buyers pushed the price above $0.94 but failed to sustain higher levels.

The 20-EMA is the first support to look at the downside. If the price is above 20-EMA, it shows that the sentiment is positive. The bulls then try to drive the pair above $0.95.

Aave price analysis

Aave (AAVE) closed above $200 resistance on November 27, indicating a resumption of the uptrend.

The Bears were On November 29, they pulled the price back below $200 but failed to hold the lows. The AAVE/USDT pair broke above $200 on November 30, indicating that the bulls are trying to turn the level into support. Buyers need to wait for the price above $215 to clear the rally towards $260.

If the price declines and breaks below $194, this bullish outlook will become invalid in the near term. The pair may then move down to the 20-day EMA ($183).

The bears are trying to pull the price towards the 20-EMA, which is an important recent support to watch. If the price rebounds strongly from the 20-EMA, it indicates buying on the dips. That will improve the chance of the climb restarting.

Conversely, a break below the 20-EMA indicates that the bulls are losing their grip. The pair may slide towards the 50-SMA. The bulls are expected to strongly defend the 50-SMA as a break below it could favor the bears.

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