The market has crashed! Are you panicking? Look to Bitcoin to decide your move!
Since Bitcoin's breakthrough rise in mid-November, major chips have concentrated around 91000. As long as this position holds, the overall trend remains bullish. The daily trend is weak, with rebound highs gradually lowering, forming a slight bearish trend. The 4-hour chart shows fluctuations and adjustments, with the K-line closing price stabilizing above 95000, but the pressure in the 96500-97500 range is evident.
The support for Bitcoin is evident, with strong support currently in the 3520-3550 range, and the next support around 3400, corresponding to Bitcoin's 91000 line. A breach below 3000 points would signal a bear market.
Therefore, before Bitcoin falls below, a pullback presents a buying opportunity for altcoins. If it drops below 91000, consider adjusting spot risks.
FIL
Fil steadily locks in profits with a take-profit of about 5% each time. Although the market was once sluggish, conditions are gradually improving as the timing matures. As a top project heavily supported by exchanges like Binance, Filecoin's global appeal remains strong.
Although the price hasn't risen, Filecoin has been actively developing, with code updates second only to Ethereum. In the first quarter of next year, Filecoin's mainnet will undergo a major upgrade, improving efficiency by 480 times and significantly reducing gas costs, which will bring more opportunities to the Fil ecosystem, potentially even for smaller projects.
HYPE
Hyperliquid ($HYPE) is a blockchain project that was just launched about a week ago, and its token quickly became the market focus in a short time. Since its listing, $HYPE has accumulated over 200% gains and has not yet been listed on major centralized exchanges (CEX). As of December 3rd, $HYPE is priced at 8.92 dollars, having reached a high of 9.4 dollars.
$HYPE's daily trading volume reached 250 million dollars, showing strong interest from investors in the project. Considering its growth momentum, Olanrewaju predicts that $HYPE may continue to rise in December and is expected to break through 10 dollars, bringing substantial returns to early investors.
SUI
In the past month, $SUI has performed exceptionally, with its price accumulating a 75% increase, demonstrating strong market momentum. In December, Sui will see a token unlock of up to 210 million dollars. Although the unlock may increase market supply and cause price fluctuations, Sui has shown strong resilience in previous unlocks.
From a technical perspective, Sui is currently priced at 3.5 dollars, having broken through the 20-day and 50-day exponential moving averages (EMA), which is usually seen as a bullish signal.
Under favorable market conditions, Sui could rise to 4.40 dollars in December. However, if faced with selling pressure or unforeseen events, a pullback may occur, with key support at 2.38 dollars.
BONK
As one of the most representative meme coins in the Solana ecosystem, Bonk may encounter a special narrative in December. The official plan is to burn 1 trillion tokens before Christmas to reduce circulating supply, thus enhancing the token's scarcity and potential value.
From the daily trend, $BONK finds support near 0.0000043 dollars; if it can stabilize at this position, it is expected to rebound and push towards 0.000059 dollars.
However, meme coins are often highly volatile and carry high risks. If a large number of holders choose to take profits in December, this prediction may quickly fall short, and the coin price may retreat to 0.000035 dollars. The crypto market is highly volatile, and investors need to make cautious decisions, focusing on risk management and market research while pursuing high returns.
FTM
Fantom ($FTM) is gaining attention in December due to its significant Sonic upgrade going live on the mainnet, expected to greatly enhance network speed and efficiency, bringing breakthroughs to the Fantom ecosystem, while FTM will be exchanged 1:1 for the $S token. Olanrewaju points out that driven by this positive news, FTM has risen 60% in the past month, breaking through the 1 dollar mark, currently priced at 1.25 dollars.
From a technical perspective, FTM has formed a bullish head-and-shoulders pattern, indicating a trend shift from bearish to bullish. Additionally, the buying and selling strength indicator (BBP) shows that bulls still dominate.
$FTM may spike to 1.14 dollars in the short term, and is expected to break through the 2 dollar mark after the Sonic upgrade. However, investors still need to pay attention to potential selling pressure risks.
That's all for today's article. Currently, we are in a bull market with a lot of excitement. We share crypto tips daily. If you're unsure how to navigate the bull market, feel free to follow us; we share trading strategies and tips without charge.
