Why is Ethereum dropping? Justin Sun sells $143M ETH
The cryptocurrency market is feeling the heat of bearish momentum. Ethereum has had a tough week, and Justin Sun seems to be at the center of it. The Tron founder has been selling off his holdings of ETH, causing ripples in the market. In the past week, he sold ETH worth $143 million, which is about half of his holdings. His actions have led to a significant drop in Ethereum's price. The community has many questions about him. Is he playing a game that others are unaware of? There are more questions behind the single question of why Ethereum is dropping. Let's explore these factors.
Whale activity and indicators suggest that Chainlink (LINK) may rebound to $32
This article discusses the recent whale activity of Chainlink, the increasing trading volume, and network participation, suggesting a bullish price outlook up to $32. Whale accumulation and key price levels drive LINK's developmental momentum. The current price trend of Chainlink is supported by a significant increase in whale accumulation, which plays a key role in influencing market movements. The whale activity surged after the recent withdrawal of 362,380 LINK from Binance, reaching about $8.19 million in just 48 hours. This withdrawal not only indicates asset consolidation but also shows that large investors are confident in LINK's future growth potential.
How can we seize the market trends in the coming month to turn losses into profits?
1. The current market is quite volatile, and friends trading in spot should pay special attention to every sudden drop. When Bitcoin experiences a significant decline, check the hourly chart; if it drops rapidly, it's likely that the market makers are creating panic. At this time, stay calm and enter the market gradually in batches.
2. The prices of altcoins have been declining steadily, with many coins returning to their previous price ranges. The room for further decline is limited. Now is the time to grab low-priced tokens and patiently wait for the capital to flow out of Bitcoin. Once the capital flows out, and Bitcoin hits a peak, altcoins will take off; it’s not impossible for them to double in a day.
3. In the current market, everyone should learn to wait patiently. Once the market experiences a sudden drop or a sharp decline, it’s a good opportunity to buy more. This trading method is the mainstream operation in the current market; remember to be prepared and build positions together with the market makers.
4. Finally, avoid going all-in at once. Remember this mantra: buy small on small dips, buy large on large dips, and don’t buy if it doesn’t dip; sell small on small rises, sell large on large rises, and don’t sell if it doesn’t rise. As long as we avoid chasing highs, we can transform from 'chives' into 'sickles'.
Pay attention to the four-hour level support at 661. If the four-hour level closes below this support, this four-hour rebound will end, and it will test 638 618 600 again.
XRP price began a new round of decline from the $2.38 region. The price is consolidating and may find it difficult to start a new rally above the $2.30 resistance area. XRP price struggles to break through the $2.40 resistance area. The price is currently trading below $2.30 and the 100-hour simple moving average. On the hourly chart for XRP/USD, there is a connected bearish trendline forming, with resistance at $2.25 (data source from Kraken). If the currency pair remains below the $2.30 resistance level, it may continue to decline.
Due to the impact of martial law, South Korea's crypto trading volume has significantly decreased, dropping from a peak of $25 billion to the current $6.7 billion.
With Christmas approaching and the markets in Europe and the United States about to close for an extended holiday until around January 5th, the upward momentum is not as strong as before, and there may be a period of liquidity slowdown.
Take this time to reduce leverage, adjust positions, conserve energy, and think about what strategy to use to deal with the market after Trump's inauguration in January. Avoid engaging in reckless maneuvers!
Several potential catalysts for #Bitcoin price increases in 2025——
1. A favorable cycle under interest rate cuts and halving 2. Trump’s crypto-friendly government and relaxed regulatory policies 3. The appointment of a pro-friendly SEC chairman 4. Continued increase in institutional participation 5. 2025 Bitcoin Conference (May)
Next year still holds a lot of promise, provided you have the capital and courage to persist!
The current market indeed shows signs of a second dip, but the bottom of the second dip has not fallen below the position of the first dip, indicating that the market may still be undergoing adjustments.
At the same time, we cannot rule out the possibility that large funds or most investors are eager to break even, which may lead to rapid sell-offs during the upward movement.
Personally, I lean towards the first scenario, where the market may experience a rebound after confirming the bottom.
In this case, altcoins may enter a phase of sector rotation, with popular altcoins performing relatively strongly due to changes in market sentiment.
Therefore, there may be good performance in the future, especially for projects with strong fundamentals and broad consensus.
Truly believing in a meme Means getting excited when it drops Means buying more instead of selling at a loss If you buy a meme intending to hold long-term You must have recognized its core Community, concept A good meme, if it’s a golden dog, will definitely give you many opportunities to get on board before it takes off. Speculators might leave because the price drops, so they miss out on the investment from the trough to the peak. They can only earn from chasing the rise. So distinguish whether it's speculation or true belief; if you buy a meme, it's speculation waiting for its main surge to come. If you chase in, you’ll need to exit when it’s wildly pumped. Because when it drops, you will definitely sell at a loss.
Can Solana (SOL) rebound from $175 amid mixed market sentiment?
The analyst evaluates the performance of SOL while testing key support levels and provides suggestions on potential buying opportunities amid changes in market sentiment.
Will Solana's price hold at $175? Since peaking at $264 in November, Solana has experienced a significant decline, falling to a low of $175. The recent downturn places SOL at a critical juncture as it tests a key convergence area—this situation may reinforce the optimistic outlook presented by analysts. Throughout 2024, SOL's price has historically bounced at the 100-day EMA (Exponential Moving Average), with similar patterns observed in June, July, and October. This prevailing trend has sparked interest as traders speculate whether SOL can replicate this resilience once again.
Recently, SUI and BGB have indeed been very strong. Bitcoin has retested its support, and both of their prices can remain stable above 4 USD. Once Bitcoin adjusts well, it is highly likely that SUI and BGB will break through 5 and set new historical highs. Therefore, in the short term, as long as they can pull back to below 4, we will gradually buy in at the bottom.
The rebound in November established an upward trend, pushing the price from $0.04 to the $0.35-$0.40 range. In December, it consolidated between $0.25 and $0.30, indicating a potential bottoming phase.
The Bollinger Bands indicate reduced volatility, with the price hovering near the middle band. This pattern typically precedes a potential breakout movement. The RSI is at 56, showing balanced momentum and upward space, while the MACD configuration, despite a slight bearish momentum in the histogram, still maintains a bullish structure.
Support remains at $0.25, with immediate resistance at $0.30. A breakout above this resistance could target the previous highs of $0.35-$0.40. The volume pattern is consistent with a typical consolidation phase, suggesting that new buying pressure may be forthcoming.
The most common tactics used by the market makers are 'washing the盘' and 'lifting the market'.
Washing usually occurs at the bottom, where the market makers create a short-term rapid decline, instilling panic and scaring away unstable retail investors. During the lifting phase, it happens quickly, not giving retail investors a chance to enter, causing indecisive retail investors to buy at high prices.
If we can see through these tactics of the market makers, maintain our composure during their wash operation at low prices, avoid cutting losses at low points, and not blindly chase highs during price lifts, while having our own fixed trading rhythm and just taking advantage of their momentum to catch a little 'fish', then we will not be trapped at high prices, and the market makers will have no way to deal with us retail investors.
SUI Market Analysis: Sui is currently 3.07% below its highest prices in the past 30 days and 7 days, reflecting some recent price consolidation. However, it has shown impressive growth, soaring 60.69% from the 30-day low and 20.96% from the 7-day low, indicating a strong recovery momentum.
The current price is around 4.80, with bullish momentum targeting the recent high of 4.95 USD, which is the immediate resistance level. Successfully breaking through this resistance could push the price to test 5.00 USD, a psychological barrier, and further extend gains to 5.10 USD supported by the previous upward trend. However, failing to break through 4.95 USD may lead to consolidation or a pullback.
Key support is located at 4.50 USD, where the price recently rebounded, followed by 4.20 USD, coinciding with the middle line of the Bollinger Bands. If the decline is greater, the price may return to 3.45 USD, consistent with historical consolidation areas.
The MACD indicator remains in the bullish zone, indicating that momentum favors the upside. Traders should closely monitor these levels, as any breakout or confirmation could define the next directional move.
Remember during bull market corrections: Hold, be patient, and do not fidget easily.
1. Generally speaking, a market cycle lasts about four years, comprising a bull and bear market.
2. Long-term holding is the most effective way to achieve substantial returns. The best time to hold is at the beginning of a bull market or during the low points that occur during the transition from the first to the second phase of a bull market.
3. Currently, those undervalued quality coins all have significant potential for appreciation; it’s just a matter of time.
4. In a bull market, most people's biggest regret regarding their holdings is often not holding on for the long term, rather than not buying in at all.
5. Do not always expect to profit consistently in spot trading; profits in spot trading often come in an instant. Many coins may remain in a state of fluctuation for an extended period, but once they start, their increase can be several times.
Therefore, in a bull market, focus more on the outcome and do not get overly entangled in the process. Although the process may be volatile and cause anxiety, as long as you can ultimately achieve a satisfactory result, that is good operation and correct operation.
A sharp drop in a bull market is a great opportunity, many people are afraid and panic, thinking the bull market is over, little do they know this is a game for the brave!
At the same time, you need to know one thing: during a rebound, what strong momentum is truly reflected; the stronger the rebound, the stronger the momentum. Currently, the focus is on meme sectors like DOGE and PEPE, as well as DeFi sectors like UNI, AAVE, CRV, and SUSHI!
The U.S. SEC approves the first Bitcoin + Ethereum mixed ETFs, expected to launch in January with huge market demand
Nate Geraci, president of ETF Store, stated on social platform X yesterday (20th) that after nearly six months of review, the U.S. Securities and Exchange Commission (SEC) has finally approved the Bitcoin and Ethereum mixed ETFs from Hashdex (Hashdex Nasdaq Crypto Index US ETF) and Franklin Templeton (Franklin Crypto Index ETF).
Bloomberg Analysts: Expected to launch in January According to reports from Decrypt, SEC documents indicate that the Hashdex Nasdaq Crypto Index US ETF will be listed on Nasdaq, while the Franklin Crypto Index ETF will be listed on the Cboe BZX exchange. Additionally, the proportions of Bitcoin and Ethereum held by these mixed ETF products will be calculated based on free-float market capitalization. Furthermore, the SEC has stipulated that these two products must continuously meet listing requirements and maintain transparency in their portfolios and pricing, or they will be required to delist.
The BNB four-hour level shows a rebound, with resistance at 693 and 701. A breakthrough of these two resistance levels will look towards the vicinity of 720. Keep an eye on support at the four-hour level: 669.
If the four-hour level closes below this position, this rebound will be considered over, with target support below at: 648, 632, 618, 600.
In a bull market, there are all kinds of 'monsters and demons', and various 'teachers' emerge endlessly. Yesterday they were talking about the bull market, today it has suddenly turned into a bear market. Yesterday they were discussing new highs, but today they are already looking at new lows. These people create chaos in the market by misleading the inexperienced, and while they are losing heavily themselves, they continue to impart their so-called experiences to others. Remember this: the only one who can ultimately make you money is yourself; anyone else's opinion is just a reference. In the end, you are the only one responsible for your own wallet, and you cannot rely on others.
On the weekend, with no external factors influencing the market, liquidity is also average, and volatility will not be too great. Overall, we will treat it as a range-bound movement.
The current focus is on the 98,000 position. On Saturday and Sunday, we will hover around this position. If it breaks through, we will continue to move above 100,000; if it does not break through, we will oscillate around the 95,000 position.