Looking at the monthly chart of Bitcoin, its market share has recently fallen below the 5-day moving average for the first time, forming an engulfing top pattern. This pattern usually indicates a change in market sentiment, which may suggest that Bitcoin's bullish market has entered its final stage.
The continuous upward trend of Bitcoin since 2018, especially the strong bull market of the past two years, may stall due to the overall market adjustment. This change in trend suggests that the market may experience a certain degree of correction in the near future.
Nevertheless, Bitcoin is not entirely unattractive, and it may still attract capital inflows in the short term, but overall, investors should remain vigilant about short-term risks.
Opportunities in Altcoins
In the event of a potential adjustment in Bitcoin, the performance of Altcoins, especially Ethereum and some promising Altcoins, may be quite different. Ethereum currently appears to have strong upward momentum and is expected to have the opportunity to break through its historical high in the next 2 months. Once it breaks through, the price of ETH may double again in a short period of time.
4 Cryptocurrencies with 100x Potential to Explode in the Coming Months, Becoming the New Market Surge Engines!
XLM
Stellar (XLM) is currently sending strong buy signals on key technical indicators, providing an extremely attractive opportunity for traders and investors.
While the market's average 12-hour RSI is 68.09, nearing overbought territory, XLM's 12-hour RSI is slightly lower at 64.97. This indicates that the bullish momentum has not yet entered the overbought zone and there is still room for further upside.
Additionally, the recent 6.06% price pullback provides an attractive entry point, as XLM shows recovery potential.
Technical indicators strongly support the bullish outlook for XLM. The moving average dashboard presents overwhelmingly positive values, with 13 out of 15 key indicators (including all major timeframe EMAs and SMAs) signaling a buy.
These indicators highlight the sustained uptrend and strong support levels, suggesting the recent pullback is temporary. Furthermore, the MACD level confirms the buy signal, reflecting strengthening bullish momentum, while other oscillator indicators remain neutral, indicating a stable overall trend.
For traders and investors, XLM offers an attractive risk-reward ratio. The temporary price pullback, coupled with the strong support from moving averages and RSI levels, suggests it has further upside potential, indicating that Stellar is poised for a rebound.
TRX
TRON (TRX) currently presents an attractive buy opportunity, supported by bullish technical indicators and a stable price trend, making it a reliable choice for traders and investors.
The 12-hour RSI is 60.23, lower than the market average RSI of 68.09, indicating that TRX remains in a strong position and has room for further upside before reaching overbought levels.
Although the 12-hour price change is only 0.07%, this stability reflects resilience, providing an attractive entry point for buyers anticipating a breakout.
The moving averages provide particularly strong bullish signals, with all key EMAs and SMAs across short-term and long-term timeframes displaying buy recommendations.
This highlights the sustained uptrend and strong price support across multiple trading sessions. Additionally, momentum oscillator indicators (such as the Awesome Oscillator and Momentum) also confirm the growing bullish sentiment, indicating that the current price action is developing towards a potential uptrend.
For traders and investors, TRX's stable RSI level, strong moving average signals, and supportive momentum indicators make it a solid buy choice. The technical setup suggests that TRX is poised to capitalize on the market momentum, offering both short-term gains and medium-term growth potential.
RNDR
After consolidating around $6.09 for several months, the Render price has risen 18% from its October 2024 high, followed by a breakout. After breaking through the $7.05 resistance level, RNDR has experienced significant volatility.
Notably, during the November bull run, more investors have entered the Render market, helping to support its position as one of the most promising Altcoins to buy currently.
Market experts suggest that RNDR may soon set a new high above $13.01. This move seems likely to occur, as many industry leaders have turned to RNDR during the current market upswing. The growing demand for AI-generated media visual effects also supports RNDR's uptrend and trend reversal.
On November 28, 2024, RNDR was valued at $8.21, up 15.66% over the past week. Market experts believe that with RNDR breaking through the $7.51 to $7.72 resistance zone, its December target price may reach $10.25 due to increased adoption. However, investors are also buying DTX, as it has massive growth potential in this bull market.
APE
The Bored Ape Yacht Club (BAYC) ecosystem token APE rose 13.6% last week.
Following the broader market trend, APE began to recover on November 27. Interestingly, as of November 29, APE had risen 11%, breaking above the top trend line of a five-week symmetrical triangle, with the bullish momentum continuing.
By the end of this week, APE pulled back and retested the downtrend line, reaching the $1.380 support level. However, the bulls showed strength, reigniting the uptrend, causing the asset to close the week at $1.5.
Subsequently, APE fell below $1.5, with its RSI at 69, still near the overbought zone. This week, the bulls must defend the $1.3 area to hold the symmetrical triangle. A pullback to the triangle could signal a shift in momentum to bearish.
Yuga Labs, the team behind the BAYC and Mutant Ape Yacht Club (MAYC) Non-Fungible Token series, created APE.
It is reported that 15.6 million APE tokens will be unlocked on December 17.
