It’s a new month today, and Bitcoin has just crossed over the $38,000 resistance.
The total market cap for the crypto market has advanced by 1.14% over the last day, from yesterday’s $1.43 trillion to $1.33 trillion today.
The crypto market also looks like this:
As shown above, the market is mostly green, and we can conclude that the bulls are in control today. The total market liquidations have also declined over the last day, showing that not many people were caught by surprise when Bitcoin crossed over $38,000.
The total liquidations over the last day sits at $56.77 million, with the bears taking the majority of hits at $56 million.
Will Bitcoin Close Above $38,000?
Bitcoin has still not closed above $38,000, despite breaking above multiple times. Today’s price hangs just around $38,100 at the time of writing, with today’s candlestick appearing more bullish, compared to yesterday’s.
Bitcoin still needs a break and close above $38,000 to confirm fresh new bullish momentum, and a price rally for December cannot fully start without one.
Ethereum Rebounds From Yet Another Low
Ethereum has been heavier on the bearish side a lot more than Bitcoin.
While Bitcoin has broken through $38,000 and is waiting for a close above this price level to confirm its bullish momentum, Ethereum has been focused on making lower lows.
This either indicates more bearish tendencies compared to Bitcoin, or a more solid foundation for a powerful Ethereum rally. To conclude things, Ethereum is bound to retest and break past $2,150 very soon, and reclaim $2,500.
Perlin (PERL) Doubles In One Day
Perlin, or $PERL is the #1 top gainer on Binance after its 112% price gain over the last day, at the time of writing.
It is interesting how PERL’s +100% gain over the last day, was accompanied by a drastic price decline below a major support level only a few days ago.
PERL has successfully broken above $0.01367 once again but will need to close above this resistance to confirm its price recovery.
Polkastarter (POLS) Is Worth Looking At
POLS is the 4th largest gainer on Binance, with an 18% price gain over the last day. In the charts, the cryptocurrency has been bullish for far longer than the last 24 hours and is on the verge of breaking past a major support.
POLS has already broken past $0.475 in the charts and only needs to close above to confirm its bullish momentum. If this close above occurs, we can finally see a 56% rally to $0.2691.
Is The Ordinal (ORDI) Hype Coming Back?
Bitcoin ordinals used to be all the hype a while ago before some of their popularity faded, and the ordinals token declined for a retest of $18.5.
Over the last day, however, ORDI has risen by 9.5% and is ranked as the 10th largest gainer on Binance.
In the hourly chart shown above, we can conclude that the cryptocurrency is attempting to rebound from $18.5 and break above $21.5. If a break above this price level occurs, we can see a price rally on ORDI to as high as $23.9, or even higher.
