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- Bitcoin is showing potential to surge to $80K
- Ethereum is gaining momentum and could rise to $2,900.
- Dogecoin gains momentum; bullish action might push it to $0.18225.
As market turmoil continues, top cryptocurrencies have faced notable drops. Yet, crypto whales are capitalizing on this opportunity, grabbing more coins at a discount. With rising price swings, could this be a smart time to invest for potential post-election gains? Let’s explore three tokens that institutional investors (whales) are heavily accumulating.
Bitcoin (BTC)
Source: Trading View
As of writing, Bitcoin gained 1.5% over the past 24 hours, surging past the $75K support level. However, Bitcoin has jumped 8.33% in the last month and boasts a year-to-date (YTD) return of 61.63%. These gains highlight strong long-term potential.
Yet, the RSI indicator hasn’t broken into the overbought range on the daily chart. If bullish sentiment continue, Bitcoin will attempt to surpass its new all-time high of $76.78K. But if bears take control, Bitcoin could slide back toward $60,000.
Ethereum (ETH)
Source: Trading View
Ethereum’s price action has gained over 6% this week. This narrow range reflects low buying and selling pressure for the leading altcoin. The MACD shows a steady red histogram on the daily chart, confirming neutral price trends.
In addition, the 50-day EMA acts as resistance, suggesting mixed price action. If the market turns bullish, Ethereum could even reach the $2,900 price level. On the downside, Ethereum might fall back to the critical support level at $2,200.
Dogecoin ($DOGE)
Source: Trading View
As of writing, Dogecoin dropped 6.36% in the past 24 hours, with trading volumes reaching $1.57 billion. Yet, $DOGE has surged 9.91% over the past week and 40.47% this month. With a YTD return of 69.62%, Dogecoin shows a long-term bullish trend. However, the SMA indicator reveals bearish convergence on the $DOGE chart.
Meanwhile, the RSI has dropped significantly on the daily timeframe, pointing to potential bearish pressure. If bullish momentum returns, Dogecoin may aim for its upper resistance at $0.18225. On the flip side, a bearish shift could drive the price toward support at $0.127.
Whales are piling into Bitcoin, Ethereum, and Dogecoin, likely expecting post-election gains. These market moves might signal a chance to follow their lead. Watch these three tokens closely as the election approaches, as they could offer key opportunities.