The bulls remain in control of the market today, causing am 0.84% increase in total market cap over the last day, from $1.66 trillion to $1.67 trillion.
Despite this increase in the general market's standings, the crypto heatmap shows us that this change comes mostly from the low-cap alts, while higher-cap cryptocurrencies like Ethereum and Bitcoin remain red.
This hierarchy between the bulls and bears explains why the total crypto market's liquidations have reduced to $102 million, and the bears have only lost slightly more than the bulls.
While the bears have lost about $59 million, the bulls’ losses come in at around $43 million. From the above, we can conclude that while the bulls have the upper hand over the general market today, their influence is not absolute.
Bitcoin: Low Volatility And A Possible Price Rejection
According to the charts, Bitcoin is currently experiencing low volatility, somewhere around the $45,000 zone.
So far, the bulls have either been unable to push Bitcoin over and past the $45,000 resistance, or the bears have been unable to push Bitcoin into a price rejection.
Either way, the low volatility around $45,000 indicates indecision between both parties and is likely to end in a volatility explosion, either up or down.
Ethereum’s Price Rejection From $2,340
On the 4hr chart, we can see that Ethereum has formed a double-top somewhere around $2,340, and now appears to have been rejected from this zone.
This weakness from Ethereum's bulls at crucial moments has gone on for months and may be a strong indication that a strong crash is incoming, before a massive rally.
Overall, if Ethereum is unable to break above $2,340 soon, we are bound to see a price reversal and a retest of $2,150.
A Christmas Surprise From Solana
The general idea is that Solana would enter a price reversal, once it hit $100. However, Solana has shocked the world by rallying some more and being worth $111 at the time of writing.
This is precisely why Coinglass data shows that Solana liquidations have been the worst over the last day, even overshadowing Bitcoin and Ethereum.
Solana is currently facing resistance around this $111 zone. And if a break above occurs, we are bound to see the cryptocurrency rally straight up to the next resistance zone, somewhere between $125 and $128.
OMG!
OMG, or OMG Network Token is up by about 26% today, making it one of the best-performing cryptocurrencies on the market as of the time of writing.
In the charts, we can see that OMG is trading at $0.912, has formed a clear cup and handle formation, and is poised for a 25% rally if it successfully breaks above this cup and handle formation.
DEGO’s Incoming Breakthrough
According to the charts, DEGO has been stuck under the $2.66 resistance for most of the year.
However, after several failed attempts, the cryptocurrency appears to be showing one of the first real signs of a breakout.
If a break above this current resistance occurs from here, we are bound to see about a 25% rally to anywhere between $3.3 and $3.5.
