December has arrived, with only one month left until the Spring Festival, and the dog fund needs to exert its strength so that everyone can celebrate the New Year well! $BTC remains strong, not retreating to 80,000 or 70,000 as expected, continuing to oscillate at high levels with a firm trend. Following the trend, December may see a significant surge that you cannot predict.
$ETH seems to have become stronger, breaking through 3700, hoping to stand above 4000 early and lead altcoins for another surge. Recently, old altcoins have performed well, with $XRP even reaching new historical highs. While everyone is focused on new coins, old coins are starting to gain momentum again, and opportunities with other old coins can be noted.
Recently, Bitcoin's adjustment has released some funds into the altcoin market, which may signal the full onset of the altcoin season. Meanwhile, cryptocurrency index ETFs have become another hotspot. The latest submitted index ETF applications cover 10 major cryptocurrencies, including Bitcoin, Ethereum, and Solana, providing investors with a convenient 'bundle' investment method.
So today, let's first talk about SOL and XRP!
Today, $XRP continues to soar, having risen 407% in less than a month. What once seemed impossible at $1 for Ripple has now easily broken the $2 mark. With the regulatory environment becoming more relaxed and the outlook clearer, $XRP, which was previously suppressed by the SEC, has begun to rebound, reaching new historical highs and boosting market sentiment!
Currently, there isn't much to analyze in the technical aspects, mainly observing the continuation of market leaders and retail investor sentiment. Investors who missed this wave of market movement are advised to stay on the sidelines to avoid blindly guessing the top.
As for $SOL, today's opportunity lies in the pullback; if it doesn't pull back, it won't count as an opportunity. Pay attention to the range around 227 and the 215-220 range after breaking below 220. If a short-term divergence pattern appears, it may lead to an oversold rebound, with a favorable risk-reward ratio and safety. With the explosion of old altcoins, the capital outflow from $SOL is also normal, as $SOL has rebounded dozens of times from historical lows, and giving other public chains some opportunities is understandable.
In addition, although the market is optimistic about ETFs, the driving effect on SOL is limited because Wall Street prefers Bitcoin, and other projects like XRP, LINK, and AVAX may also be the first to get ETF approvals. If there are no new innovations or strong MEME narratives, the probability of SOL breaking historical highs and continuing to rise is low.
Recently, the BSC ecosystem welcomed new members, and Binance also increased its investment in its ecosystem development. An emerging BSC project, TopGoal, announced an extension of the team lock-up period for the $GOAL token to 6 months, meaning it will not be unlocked before May 2025. This is an RWA project linked to the football economy and has established partnerships with several clubs. From a technical perspective, GOAL experienced severe overselling after launching on OKEX, and there are significant signs of accumulation recently, making subsequent pullback opportunities worth watching.
At the same time, established privacy public chain projects like Dash, XMR, ZEC, and ZEN also hold a place in the market. Currently, XMR and ZEC face risks and have been listed as observations by BN, while Dash remains active, showing strong market strength. Technically, Dash's resistance levels are at 65 and 77, with strong resistance at 93 and support below at 50. If it breaks 46, stop loss is advised.
Regarding the airdrop HYPE, it welcomed its TGE in the past two days. This project, without any VC participation, saw its token HYPE continue to rise upon launch, and currently, its FDV has reached 6 billion USD. I checked, and this project has barely launched on any mainstream CEX for spot trading. They previously stated openly that they do not need investors, do not need to pay market makers, do not need to pay the team, and do not need internal personnel, achieving true fairness and justice. It could perform well in the future!
Recently, the performance of old coins has been exceptionally strong, with little hype in the market, leading to direct price increases. This week, there are many data points and related token unlocks to focus on!
First up is Powell's speech. At 2 AM this Thursday, Powell will be interviewed at a conference hosted by the New York Times, and the market will closely watch his latest views on the economic situation and monetary policy.
Next is the U.S. labor market data:
Tuesday night: October job openings report.
Wednesday night: November ADP employment data, serving as a leading indicator for non-farm payrolls.
Friday night: Non-farm payroll data and unemployment rate will directly impact the Federal Reserve's interest rate decision.
Currently, the market expects a 65% probability of the Federal Reserve cutting interest rates by 25 basis points on December 18, with a 35% probability of no rate cut. As data is released and officials speak, this expectation may change, and investors need to stay alert.
Today's article ends here. Currently in a bull market, with winds rising, we share codes every day. If you're unsure how to operate in a bull market, feel free to follow us for spot codes in the bull market, layout strategies, which can be shared free of charge.
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