- Market Sentiment and Trend: This week, Bitcoin has fallen from its historical high, with a drop of over 10% in three days, leading to a pessimistic market sentiment and a significant weakening of bullish momentum. Nevertheless, a rebound in price was observed on the 21st. Some analysts believe this pullback is a typical adjustment in a cryptocurrency bull market. While short-term upward momentum has weakened, the long-term trend remains worthy of attention.
Ethereum ($ETH )
- Market Sentiment and Trend: Ethereum briefly broke through $4,100 but then faced selling pressure and retreated. Current market sentiment remains bullish, with buying pressure pushing the price back towards $4,000. If it successfully breaks through this key resistance level, it could trigger a new wave of increases, challenging the historical peak; if it fails to break through, it may oscillate between $3,500 and $4,000.
Comprehensive Analysis
Based on the recent trends of Bitcoin and Ethereum, it is expected that both will maintain a sideways fluctuation for some time. For short-term traders, now is a good time to enter the market. It is recommended to focus on four-hour and eight-hour technical patterns, buying on dips and selling on highs. Positions can be appropriately increased, as weekend fluctuation is quite common, and both low-position long orders and high-position short orders may bring profits. Pay attention to risk control while trading to avoid losses. #BTC #ETH
Top Gaining Altcoins in the Third Week of December 2024
#HYPE #MOVE #BGB The third week of December 2024 initially ended with pessimistic sentiment, with the market generally showing a bearish trend, causing many to worry about the future market. However, the subsequent rebound reversed this situation, and the three altcoins with the largest increases this week recorded double-digit gains. In this analysis, we will provide a detailed interpretation of the altcoins with the highest percentage increase this week, exploring how they achieved this breakthrough surge and their potential development directions moving forward. This includes Hyperliquid (HYPE), Movement (MOVE), and Bitget Token (BGB).
From the four-hour chart, although the Bitcoin price has been repeatedly suppressed by the middle band, the middle band of the Bollinger Bands is showing signs of an upward turn, which may indicate potential market movements. At the same time, the convergence of the three lines in the KDJ indicator and the gradually shortening green momentum bars in the MACD indicator show that the upward momentum in the market is weakening. Currently, the $100,000 level acts as a strong resistance, significantly pressuring Bitcoin's further rise. Only by breaking through this resistance can a market rebound be confirmed. Therefore, in trading, it is essential to closely monitor changes in these key technical indicators to make informed decisions.
Trading Suggestions: - $BTC : Consider shorting in the range of 98,800-99,500, targeting the 98,000-97,000 range. #BTC
From the daily chart perspective, the current KDJ and MACD indicators still show a trend of weakening oscillation, and the Bollinger Bands (BOLL) continue to exhibit a downward oscillation. Last night's rebound was actually a corrective adjustment to the breakout of the Bollinger Bands. Today, the Bollinger Bands have completed their repair, and the coin price has returned above the lower band.
The MA5 and MA10 on the main chart are still in a downtrend, suppressing the coin price. The gap between the main candlestick and MA5 has also been repaired. Therefore, the focus now should be on the strength of the rebound after this adjustment of Ethereum, especially whether it can effectively break through the resistance level near the daily MA5 (currently referencing a price of 3580).
If it cannot break through or only shows a false breakout, Ethereum may face a second round of bearish selling pressure. Conversely, if 3580 is successfully broken and stabilized above, it indicates that the gap on the monthly chart has been repaired, and the short-term market risk is alleviated, followed by Ethereum entering a C-wave rally on the daily chart.
It is important to note that the weekend market differs from the weekdays, with lower market liquidity, and short-term fluctuations usually end in a reduced volume spike, hence today may not be suitable for trading, and cautious operation is recommended.
Summary: The key to short-term trends lies in whether the daily MA5 can effectively break through. If the coin price breaks through and stabilizes above it, Ethereum is expected to initiate a C-wave rally, and the short-term market's selling risk will be alleviated. Conversely, if MA5 cannot break through for a long time, one should be wary of the risk of a second selling pressure, with the support area referenced between 3114-2900 (Golden Ratio 0.5-0.618 area). #ETH
The above is merely a personal intraday market analysis for reference.
$SAGA Current price is about 1.57, you can start to open a long position, add one hand around 1.53, target price initially looks at 1.8.
$SAGA is a strong controlling coin, this round of decline has almost completely returned the gains of the past few months, with a significant and thorough washout. Currently, small-level rebounds have not yet shown sustained volume, and the market maker's protective chips are also concentrated in this price range #SAGA
00776948137 current price is 6.9 dollars, you can start building a position and then add to it around 6.2 dollars, with a target set at around 9 dollars.
On the daily chart, 00776948137 once rose to around 10 dollars before pulling back, which coincides with the recent significant adjustment. The price has reached the daily support and has started to rebound. This is a good opportunity to enter the spot market.
$BTC Maintain Bullish Structure, Key Support Level is Crucial
After three consecutive days of strong selling pressure, Bitcoin's current trading price is $94,400, but it has still held the key support at $92,000. Maintaining this level is crucial as it directly relates to the ongoing upward trend. If buyers regain control of the market in the coming days, Bitcoin may experience a strong rebound, further consolidating its resilience.
Although market sentiment appears pessimistic, the recent decline has not reached the expected severity. Bitcoin's stability above $92,000 indicates that the overall market structure still possesses some strength, giving investors a glimmer of hope for future trends.
However, market sentiment remains the core factor influencing the trend. If investor confidence cannot be restored and prices continue to decline, Bitcoin faces the risk of a deeper correction. Losing the $92,000 support level could lead to further testing of lower levels and trigger greater market volatility.#BTC
Ethereum Market Analysis: Intense Volatility and Chip Redistribution
As the leader of altcoins, Ethereum often experiences daily fluctuations exceeding 10%. This round of decline exceeded expectations, with prices once dropping to around 3100, while facing significant resistance during the rebound.
This intense market volatility has made many investors victims of 'wash trading', with a large amount of chips being redistributed. Currently, attention should be focused on the following key ranges:
- Upper resistance level: 3580-3650 - Lower support level: 3350-3280
Bitcoin (#BTC ) fell from around 97700 to around 95400 at midnight, then rebounded to around 97800, currently fluctuating around 97300.
From a four-hour structure perspective, the bearish strength of Bitcoin is gradually weakening, the MACD is gradually forming a golden cross and moving upwards, and the KDJ indicator also shows an upward trend. From a one-hour structure perspective, although the bulls show signs of reduced volume, the trend remains relatively strong.
Saturday Trading Suggestions:
Consider short positions if Bitcoin rebounds to around 97800-98800, targeting around 96600-96200. $BTC
Meme Coins of the Week: Fartcoin Crosses $1 Billion, PENGU Gains Momentum, and Dogecoin Disappoints
#FARTCOIN #PENGU $DOGE The recent correction in the cryptocurrency market has caused many altcoins to fall back. Memecoins have not been spared, but Fartcoin and some other tokens have bucked the trend and attracted investors' attention with their unique and absurd charm. FARTCOIN Fartcoin rocked the cryptocurrency market this week with a staggering 98% gain to hit a new all-time high of $1.30, surging to a market cap of $1.3 billion. The performance highlights the high level of uncertainty surrounding the meme coin, as the token’s unique humorous appeal continues to draw interest from speculators.
The current price is 0.416. You can consider entering the market and going long at this price. If the price falls below 0.40, stop loss. The first target price is set at 0.53.
After the recent correction, GOAT is currently close to the bottom area since it was listed on Binance (BN). The current price position is an ideal entry point with high cost performance. Considering the small stop loss range, it is recommended to enter the market with a light position and strive to win a rebound.
$SOL Price Prediction: Indicators Are Not Favorable for a Quick Rebound
Solana once formed a bull flag pattern, suggesting a possible rise to $300, but according to today's daily chart evaluation, this rally expectation has been invalidated as the SOL price fell below the support level of $209.58.
In addition, the trading volume of altcoins continues to decline, and the market sentiment is bearish, with sellers dominating. If this trend continues, Solana prices may fall further to $153.97, which will lead to losses in long positions and further reduce the possibility of a quick rebound.
However, if the bulls can hold the $170.75 support level and avoid further downward movement in price, the pullback may be curbed. In this case, Solana may rebound from below $200 and even have the potential to rise back to $264.66. #SOL
Solana traders insist on quick turnover after SOL price drops below $200
#SOL $SOL The price of Solana (SOL) has plunged 8.03% in the past 24 hours, dropping below $200 for the first time since early November. The drop coincided with a broader market downturn, triggering mass liquidations. Despite the sharp drop, Solana traders appear to expect the altcoin to quickly rebound from its lows. Or can it? Solana is still undervalued, bulls are hopeful Solana’s price action is in line with BeInCrypto’s Dec. 15 analysis, which suggests that the altcoin may struggle to sustain above $200. In the article, we cited how bears gained more dominance than bulls when the price fell below the 20-day exponential moving average (EMA).
Currently trading at $0.89, Cardano (#ADA ) has experienced a significant 7% drop over the past 24 hours and is now hovering above the key support at $0.87. The ability to sustain above this level will be critical to maintaining bullish sentiment in the near term.
If the market shows signs of rebound, #ADA is expected to break through the $1.00 mark it previously fell below. If this resistance level manages to turn into support, it will signal a resurgence for Cardano, pushing the price further towards $1.23 and potentially attracting more investors to participate.
However, if the price fails to hold the $0.87 support, it could lead to further downside. A break below this level could see #ADA drop to $0.77, thereby invalidating the bullish sentiment and the market could enter a bearish phase.
Cardano falls below $1: Returning to the opportunity zone after 4 months
#ADA $ADA Cardano (ADA) has been on a downtrend over the past few days, with its price dropping by 7%. While this decline reflects broader market pressures, it also creates opportunities for ADA holders. The current condition of cryptocurrencies has the potential for a bullish reversal, sparking optimism among investors. Cardano has a chance Cardano’s 30-day market value to realized value (MVRV) ratio shows that investors who bought ADA last month faced an average loss of 15%. However, this downturn pushed the MVRV ratio into the opportunity zone, ranging between -13% and -26%. Historically, this range marks a turning point in recovery.
When the price of Bitcoin breaks through *107617*, shorts will face liquidation pressure of up to *4.123 billion*; if the price falls below *86180*, longs may face a liquidation crisis of *1.561 billion*.
For shorts, *98429*, *101491*, *104554* and *107617* are key warning points. If the price approaches or breaks through these levels, the risk of short liquidation will increase greatly, which may cause the short force to weaken rapidly, thus breaking the current long-short game balance.
Longs should pay special attention to these important points: *86180*, *89242*, *92305* and *95367*. If the price falls to these areas, long positions face serious risks, which may weaken the upward momentum and even lead to a reversal of market trends.
Investors should plan ahead based on these key price levels and flexibly respond to market changes to optimize risk management and seize opportunities. #BTC $BTC
Yitai Trend: In the morning, the Yitai price started to gradually decline from around 3465, touching a low of around 3370, then rebounding to around 3465, currently priced at around 3413.
Bitcoin Trend: Bitcoin fell from around 98400 in the morning to around 95900, then rebounded to around 97700, currently at around 97000.
Technical Analysis:
Four-Hour Structure: The Bollinger Bands are opening downwards, and the Bitcoin's peak is gradually shrinking and touching the lower band, the KDJ indicator is gently moving downwards, and the MACD indicator is opening downwards.
One-Hour Structure: The Bollinger Bands are opening downwards, the Bitcoin's peak continues to shrink, the KDJ indicator is gradually opening upwards, and the MACD indicator is showing a convergence with upward signs.
Afternoon Trading Suggestions:
Bitcoin: If Bitcoin rebounds to the range of 98400-98800, look towards the support near 96500-96200. If it breaks out and rebounds, pay attention to the resistance near 100800.
Yitai: If Yitai rebounds to the range of 3500-3525, look towards the support near 3400-3380. If it breaks through this area, pay attention to around 3621.
Trading Strategy: The afternoon market leans towards a range-bound fluctuation, with Bitcoin's fluctuation range at 98400-95800, and Yitai's fluctuation range at 3470-3350. It is recommended to short at high positions and long at low positions, with strict defense.