đśIs This the Start of Altseason or a BTC-Dominated Market?
As December approaches, the cryptocurrency market stands at a crucial point. Recent data from ChangeNOW, a service that allows crypto exchanges without registration, shows increased transactions in Bitcoin and Ethereum. Savvy investors and major holders, concerned about safety, are using ChangeNOW to accumulate these coins. This trend suggests potential growth for these cryptocurrencies in the near future.
Bitcoin Surges 39% Monthly, Eyes Resistance at $100,724
Bitcoin has surged 39% in the past month, with prices ranging from $91,907 to $98,096. The nearest resistance is at $100,724, while support stands at $74,346. The Relative Strength Index is below 30, indicating oversold conditions. Despite a negative MACD of -402, the six-month gain is 37%. Breaking through the resistance could propel Bitcoin toward $113,913, offering potential for significant gains.
Ethereum Poised for Growth as Indicators Show Bullish Potential
Ethereumâs price is currently between $3311 and $3491, marking a monthly rise of over 30%. The Relative Strength Index is near 33, close to oversold levels, indicating possible upward movement. The Stochastic indicator is just above 21, also suggesting bullish momentum. While the price is slightly below the 10-day Simple Moving Average, itâs above the 100-day average. Breaking through the nearest resistance at $3607 could lead to the next level at $4037, representing a potential increase of about 20%. The current market setup suggests Ethereum might be ready for further growth.
Conclusion
In conclusion, Bitcoin and Ethereum offer distinct opportunities for traders and investors in December. Bitcoinâs potential dominance could indicate a strong market position, while Ethereumâs ongoing developments continue to attract attention. For those interested in engaging with these cryptocurrencies, ChangeNOW provides an excellent platform to facilitate transactions. It allows users to exchange, buy, or sell coins without hidden fees or the need for registration, enhancing security by not storing user funds. With support for over 900 cryptocurrencies, no limits on transaction volumes, and the option to purchase crypto using a bank card, ChangeNOW simplifies the process of cryptocurrency transactions while ensuring a secure and user-friendly experience.