Analysis of Prices on November 18th: SPX, DXY, BTC, ETH, SOL, BNB, XRP, DOGE, ADA, SHIB

Bitcoin is currently experiencing a tussle between the bulls and the bears, but as long as the price stays above $85,000, the buyers are in control.

MicroStrategy made headlines by purchasing a whopping 51,780 Bitcoins for around $4.6 billion at an average price of $88,627, increasing their total holdings to 331,200 Bitcoin. Another big name investor, Paul Tudor Jones, added $130 million worth of BlackRock’s spot Bitcoin exchange-traded funds shares in the third quarter, boosting his fund’s Bitcoin holdings to $160 million.

According to ARK Invest’s Cathie Wood, Bitcoin has a bright future ahead with “a long way to go.” Wood believes that regulatory relief from the new US administration will maintain the momentum for Bitcoin.

Looking at the charts, the S&P 500 Index has shown profit booking but may rally to 6,221 if it rebounds strongly from the 20-day EMA. The US Dollar Index has seen solid demand from bulls and may enter a new uptrend if it breaks above the resistance zone at 107 to 108.

Bitcoin bulls are striving to push the price above $92,000, with key support levels at $85,000 and $81,772. On the other hand, Ether is holding support at $3,028 and may retest the downtrend line if it crosses $3,220.

Solana has maintained support at $210 and is looking to rally to $260, while BNB faces resistance at $635. XRP has found support at $0.97 and could rise to $1.70 if it breaks above $1.27. DOGE is supported above $0.33 and may surge to $0.50 if it surpasses $0.39, and ADA is attempting to break above $0.80 after a minor stall.