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U.Today has summarized the top three important news stories from the past day, check them out!
A new Bitcoin prediction by Peter Brandt may shock bulls with a bearish reality
As 2024 draws to a close, interest from market participants is growing They are watching closely At what level will the price of Bitcoin enter in 2025? Although the flagship cryptocurrency made a new all-time high this month, it is now trading below that threshold, indicating potential weakness, despite a 128% increase since the beginning of the year. In light of these market fluctuations, famous trader Peter Brandt said I moved to the X platform To share that Bitcoin is currently showing a clear head and shoulders pattern. According to Brandt, there are three possible scenarios for how this pattern might work. “It may be completed and priced at $78,000, it may fail with a rental payment: or it may turn into something else,” he wrote in his post on X. The trader pointed out that as it stands now, it is a head and shoulders top and should be traded for what it is.
XRP volume rises by 87%, will the price follow?
Latest on-chain data shows that XRP is now emerging Early signs of recovery After a week-long decline that resulted in a loss of more than 6%. According to CoinMarketCap, yesterday the asset's trading volume rose 87% to $4.57 billion, providing the liquidity needed to respond to shifts in demand. At the time of writing, this metric has moved higher, reaching $6.25 billion over the past 24 hours. After reaching a peak of $2.86 on December 3, XRP has faced bearish sentiment, but recent developments point to a potential recovery, with increased volume being a potential catalyst. Additionally, metrics such as the 2.66% increase in XRP open interest, according to CoinGlass, indicate that market participants are positioning themselves for a recovery, with an initial target of reclaiming the $2.25 resistance area. Currently, XRP is trading at $2.09, up 0.56% over the past 24 hours, according to CoinMarketCap.
Related to
40 Trillion Shiba Inu (SHIB) Support Ready: What Comes Next?
Despite the general slowdown in the market, the Shiba Inu is close to reaching a level Great support levelsupported by a trading volume of NIS 40 trillion. The In and Out of the Money Around Price (IOMAP) gauge indicates that if SHIB continues to decline, it will activate a strong support around $0.000022. This level is a crucial area for a potential recovery, as 23,170 addresses have accumulated SHIB in this price range. At the time of writing, SHIB is trading below this support area, at $0.00002134, down 1% over the past 24 hours. If SHIB can climb back to the $0.000022 support level and hold there, the dog-themed meme cryptocurrency could pave the way for a bounce; Conversely, a break below this level could lead to further declines, potentially testing the $0.000020 mark.
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