The cryptocurrency market is expected to fluctuate before the end of the year, with investors paying close attention to the price movements and future prospects of major cryptocurrencies.
Bitcoin (BTC): Fluctuations within a symmetrical triangle pattern
Bitcoin is currently trading at 126.78 million Korean won, down 1.22% in the last 24 hours, but up over 2% this week, showing a stable trend. It is currently within a symmetrical triangle pattern, awaiting a directional move. If the 122 million won support level holds, a short-term rebound to 132 million won is possible. Conversely, if the support level is breached, it may test the 115 million won support area.
Ethereum (ETH): Breaking through resistance is key
Ethereum is trading around 4.3 million won, down slightly by 0.19% on the day, but still up nearly 2% for the week. The key level now is breaking through the trend resistance line around 4.45 million won; a successful breakout could open up further upside potential. Support is confirmed around 3.98 million won.
Ripple (XRP): Technical indicators are improving, and a breakout pattern is expected.
XRP is trading in the 2680 won range and is attempting to break through the upper resistance line of a descending wedge pattern. The RSI has risen to 42, and the MACD is also showing a buy signal, indicating positive technical indicators are forming. A successful breakout could see a rise to the 2900 won range, while a failure would likely result in a pullback to the 2400 won range.
Solana (SOL): Maintaining a relative advantage
Solana is currently trading at 181,179 Korean Won, continuing its strong upward trend. Although it is still down 33.7% from the beginning of the year, investor sentiment has improved recently due to user base growth and ecosystem expansion. Its volatility is twice that of Bitcoin, a factor to consider when investing.
Global Market Dynamics: ETF Net Outflows and Interest Rate Cut Expectations
The global cryptocurrency market underwent a correction due to year-end tax settlements and realized losses, with ETFs experiencing outflows of 42 trillion won in November alone. However, expectations of a US interest rate cut and the possibility of increased liquidity supply are expected to have a positive impact on the market, and the possibility of a year-end rebound for major cryptocurrencies is being raised.
Article summary by TokenPost.ai
- BTC : Watch the 122 million won support level within the symmetrical triangle pattern.
- ETH : Further upside potential after breaking through the 4.45 million won resistance level.
- XRP : Possibly breaking through the upper trendline of the descending wedge pattern → Target 2900 won range.
- SOL : Maintaining high volatility amid ecosystem growth and user acquisition
TokenPost AI Notes
This article uses the TokenPost.ai language model for article summarization. The main content may be omitted or may differ from the facts.
