The post Bitcoin Volatility May Surge Post-US Elections, Potentially Impacting ETH, DOGE, LTC, and XMR Trends appeared on BitcoinEthereumNews.com.

The cryptocurrency market stands at a pivotal moment with Bitcoin’s recent price movements and upcoming US elections influencing volatility in digital assets. Despite Bitcoin’s recent pullback to around $68,000, analysts share optimism as they predict potential support levels between $65,000 and $68,000. “Volatility could increase if results are too close to call,” states David Lawant, head of research at FalconX, emphasizing the uncertainty in the market following the elections. Bitcoin near $68,000; volatility anticipated post-US elections. Explore insights on ETH, DOGE, LTC, and XMR in the unfolding cryptocurrency landscape. Market Analysis: Bitcoin’s Recent Movements and Future Outlook Bitcoin’s price has seen significant fluctuations, especially after its rejection near the all-time highs. As traders booked profits, the notable pullback has drawn attention to critical support levels. The 20-day exponential moving average (EMA) currently sits around $68,194, which traders will watch closely. If Bitcoin can rebound off this level and break past $70,000, it may initiate a rally towards $72,000 and potentially $73,777, setting the stage for a bullish trend towards the target of $93,554. The Impact of Upcoming US Elections on Cryptocurrency Volatility The upcoming US elections are poised to significantly impact market sentiment. FalconX’s David Lawant pointed out that if election results are too close to call, the ensuing uncertainty could heighten market volatility. A breakdown below the 20-day EMA could indicate a bearish outlook, with potential dips towards the 50-day simple moving average around $65,002. Conversely, establishing a solid footing above $70,000 could reinvigorate buyer interest and attract momentum in altcoins. Cryptocurrency Price Analyses: Key Players to Watch Ethereum (ETH) Price Analysis Ethereum has recently tested the support line of a symmetrical triangle pattern, a signal that could attract buyer interest. A confirmation arises if ETH breaks above the 20-day EMA at $2,540, which would suggest a potential rally…

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Filed under: News - @ November 3, 2024 10:42 pm