Stocks Extend Gains While Cryptocurrencies Pull Back from Recent Highs
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S&P 500 Index (SPX) rose 2.49% last week, extending its winning streak to 7 weeks, the longest since 2017. Index may extend uptrend if it breaks above 4,740.
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Bitcoin (BTC) succumbed to profit-booking but a crash is unlikely as analysts expect SEC to approve Bitcoin ETFs in January. Key BTC levels to watch are $40,000 and $44,700.
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Ether (ETH) slipped below $2,200 support, indicating bulls are losing grip. Next key levels to watch are $2,074 and $1,900 if bears prevail.
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BNB (BNB) pulled back below moving averages, indicating bears trying to gain upper hand. Key levels are $223 support and $260 overhead resistance.
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Solana (SOL) turned down from $79.50 resistance. Bulls need to defend 20-day EMA support at $67.77 to avoid deeper decline towards $50.