December has arrived, with only a month left until the Spring Festival. The market should start to pick up, so everyone can have a good New Year! $BTC remains strong, not retreating to the expected 80,000 or 70,000, continuing to oscillate at high levels, showing a strong trend. Following the trend, December may see a big surge that you cannot predict.
$ETH seems to have become stronger, breaking through 3700, hoping to stand above 4000 soon and lead altcoins for another surge. Recently, established altcoins have also performed well, with $XRP reaching a historical high. While everyone focuses on new coins, old coins are starting to gain strength again, and it’s worth paying attention to opportunities in other old coins.
Recently, Bitcoin's correction 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 "one-stop" investment approach.
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 like an unreachable price of 1 dollar for Ripple has now easily broken through the 2 dollar mark. With the regulatory environment loosening and a clear outlook, $XRP, which was previously suppressed by the SEC, is fighting back, setting a historical high and boosting market sentiment!
Currently, there isn’t much to analyze technically, mainly looking at the continuation of sentiment from market leaders and retail investors. For investors who missed this wave of market, it’s advisable to stay on the sidelines and avoid blindly guessing the top.
As for $SOL, today’s opportunity is on the pullback; if there’s no pullback, it doesn’t count as an opportunity. Pay attention to the range around 227 and the 215-220 range after breaking 220. If a short-term bullish divergence pattern appears, it may lead to a rebound from overselling, with a favorable risk-reward ratio and safety. With the explosion of old altcoins, it’s also normal for $SOL's capital to flow out, as $SOL has rebounded several times from historical lows, and giving some opportunities to other public chains is understandable.
Moreover, although the market has high expectations for ETFs, their driving effect on SOL is limited, as Wall Street prefers Bitcoin, and other projects like XRP, LINK, and AVAX may be the first to get ETF approvals. Without new innovations or strong MEME narratives emerging, the probability of SOL breaking its historical high and continuing to rise is low.
Recently, BSC ecosystem projects welcomed new members, and Binance has increased its investment in its ecosystem development. An emerging BSC project, TopGoal, announced that the team lock-up period for the $GOAL token has been extended to 6 months, meaning it will not be unlocked until May 2025. This is an RWA project linked to the football economy and has established partnerships with several clubs. From a technical perspective, after $GOAL was launched on OKEX, it experienced a severe overcorrection, and there are significant signs of accumulation recently, so one can pay attention to future pullback opportunities.
At the same time, established privacy public chain projects like Dash, XMR, ZEC, and ZEN have also carved out a place in the market. Currently, XMR and ZEC face risks and have been listed as observation targets 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 drops below 46, it’s time to stop loss.
As for the airdrop HYPE, it welcomed its TGE in the past two days. This project, without any VC involvement, managed to sustain its token HYPE's gain upon launch, with its FDV reaching 6 billion USD. I checked and found that this project has hardly launched any mainstream CEX for spot trading. They previously stated that they do not need investors, do not charge market makers, do not pay the team, and do not require internal personnel, achieving true fairness and justice. They are expected to perform well in the future!
Recently, the performance of old coins has been exceptionally strong, with the market lacking much hype, resulting in a direct price increase. This week, much attention should be paid to the data and related token unlocks!
First 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 monitor his latest views on the economic situation and monetary policy.
Next is the US labor market data:
Tuesday night: October job openings report.
Wednesday night: November ADP employment data, 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 decisions.
The market currently expects a 65% probability of a 25 basis point rate cut by the Federal Reserve 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 act in a bull market, feel free to follow us for bull market spot codes and layout strategies, which can be shared for free.
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