SUI, BGB, ENA and VIRTUAL show strength as Bitcoin looks for direction
Bitcoin experienced an 8% drop for the week, but bullish activity was noted as investors bought up weekly lows. After a rebound on December 20, the market now faces uncertainty, with predictions split between a deeper correction and a resumption of the uptrend. Key levels include $100,000, where consolidation is expected. If Bitcoin exceeds $100,000, it could improve market sentiment and lift select altcoins. Conversely, falling below the 50-day SMA of $92,901 could lead to a significant correction. The analysis covers potential movements for cryptocurrencies like SUI, BGB, ENA, and VIRTUAL, each demonstrating signs of strength in the current market conditions despite Bitcoin's volatility. For SUI, resistance lies around $5, while BGB faces a consolidation phase between $4.90 and the 20-day EMA. ENA shows slight bullish momentum, aiming for $1.23, and VIRTUAL is finding support at the 20-day EMA around $2.14, with potential to rise if certain resistance levels are breached.
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