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Ethereum Price Poised for Recovery: Will It Reignite The Uptrend?
Ethereum price is moving higher from the $3,550 zone. ETH is showing bullish signs and might soon aim for a move above the $3,680 resistance zone. Ethereum started a downside correction and retested the $3,550 zone. The price is trading above $3,600 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $3,650 on the hourly chart of ETH/USD (data feed via Kraken). The pair could restart its increase if it clears the $3,650 zone. Ethereum Price Eyes Fresh Upward Move Ethereum price failed to clear the $3,800 resistance zone and corrected some gains like Bitcoin . ETH declined below the $3,650 and $3,600 support levels. It even retested the $3,550 support level. A low was formed at $3,557 and the price is now attempting a fresh increase. There was a move above the $3,600 and $3,620 levels. The price tested the 50% Fib retracement level of the downward move from the $3,762 swing high to the $3,557 low. Ethereum price is now trading above $3,600 and the 100-hourly Simple Moving Average . On the upside, the price seems to be facing hurdles near the $3,650 level. There is also a connecting bearish trend line forming with resistance at $3,650 on the hourly chart of ETH/USD. The first major resistance is near the $3,685 level or the 61.8% Fib retracement level of the downward move from the $3,762 swing high to the $3,557 low. The main resistance is now forming near $3,750. A clear move above the $3,750 resistance might send the price toward the $3,800 resistance. An upside break above the $3,800 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,880 resistance zone or even $3,920. Another Slide In ETH? If Ethereum fails to clear the $3,650 resistance, it could start another decline. Initial support on the downside is near the $3,600 level. The first major support sits near the $3,580 zone. A clear move below the $3,580 support might push the price toward the $3,550 support. Any more losses might send the price toward the $3,440 support level in the near term. The next key support sits at $3,350. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $3,550 Major Resistance Level – $3,685

NewsBTC 2024-12-03 05:28
Bitcoin Approaches $100K in 2024: Analysts Anticipate Continued Gains Amid Market Dynamics
Bitcoin’s remarkable journey in 2024 has captured the attention of investors worldwide, as it now approaches the coveted $100,000 mark amid a backdrop of pivotal market dynamics. With a staggering

CoinOtag 2024-12-03 05:17
Market Anticipates Potential Rate Cut as Fed Discussion May Influence Bitcoin’s Future Trends
The cryptocurrency market braces for potential rate cuts as optimism surrounding Bitcoin grows amid shifting Federal Reserve policies. The CME FedWatch tool now indicates a 74.5% probability of a 25

CoinOtag 2024-12-03 05:01
Post Bitcoin halving, BTC surges 129% YTD – $100K soon?
Bitcoin surges in 2024, nearing $100K, as analysts predict more gains in the coming months.

AMB Crypto 2024-12-03 05:00
Bitcoin Price Hovers Under $100K: Is Momentum Fading?
Bitcoin price is struggling to test the $100,000 level. BTC is consolidating and might attempt another increase from the $95,000 support zone. Bitcoin trimmed all gains and retested the $95,000 zone. The price is trading below $96,500 and the 100 hourly Simple moving average. There is a new short-term bearish trend line forming with resistance at $96,250 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if it clears the $96,500 resistance zone. Bitcoin Price Dips Again Bitcoin price attempted to clear the $98,000 resistance zone . However, the bears remained in action and BTC trimmed most gains. There was a move below the $96,500 support zone. The price even spiked below $95,000. A low was formed at $94,450 and the price is now consolidating losses. There was a minor increase above the $95,200 level. The price tested the 50% Fib retracement level of the downward move from the $97,396 swing high to the $94,450 low. Bitcoin price is now trading below $96,500 and the 100 hourly Simple moving average . On the upside, the price could face resistance near the $96,250 level. There is also a new short-term bearish trend line forming with resistance at $96,250 on the hourly chart of the BTC/USD pair. The trend line is close to the 61.8% Fib retracement level of the downward move from the $97,396 swing high to the $94,450 low. The first key resistance is near the $96,800 level. A clear move above the $96,800 resistance might send the price higher. The next key resistance could be $98,000. A close above the $98,000 resistance might initiate more gains. In the stated case, the price could rise and test the $98,800 resistance level. Any more gains might send the price toward the $100,000 level. Another Decline In BTC? If Bitcoin fails to rise above the $96,250 resistance zone, it could start another downside correction. Immediate support on the downside is near the $95,000 level. The first major support is near the $94,500 level. The next support is now near the $93,200 zone. Any more losses might send the price toward the $91,500 support in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $95,000, followed by $94,500. Major Resistance Levels – $96,250, and $98,000.

NewsBTC 2024-12-03 04:37
MARA Holdings Increases Bitcoin Mining Funds to $850 Million with Convertible Notes Offering
Bitcoin mining firm MARA Holdings, Inc. announced significant developments regarding its financial instruments. As of December 3rd, the company confirmed an increase in the total principal amount of its 0.00%

CoinOtag 2024-12-03 04:32
U.S. Government Transfers 19,800 BTC to Coinbase, Totaling 25,999 BTC in Custody Moves
On December 3rd, COINOTAG reported significant movements in Bitcoin (BTC) as the U.S. government transferred 19,800 BTC valued at approximately $1.92 billion. This transfer, which occurred just nine hours ago,

CoinOtag 2024-12-03 04:00
Strong Bitcoin Rise “Expected Within 1-2 Months,” Quant Explains Why
A quant has explained how Bitcoin may be expected to see a strong rise in the coming months based on a golden cross that has occurred in this indicator. Bitcoin SOPR Has Just Witnessed A Bullish Crossover As an analyst in a CryptoQuant Quicktake post pointed out , the Bitcoin Spent Output Profit Ratio (SOPR) has shown a golden crossover recently. The “ SOPR ” here refers to an indicator that tells us whether the BTC investors are selling their coins at a profit or loss. This metric works by going through the transaction history of each coin being sold/transferred to see what price it was moved at last time. If this price is less than the current spot price for any token, its sale contributes to profit realization. Similarly, transactions involving coins of the opposite type imply loss realization is occurring. The SOPR sums up these profits and losses for the entire sell supply, and determines their ratio. When the value of this indicator is greater than 1, it means the average holder could be assumed to be selling their coins at a net profit. On the other hand, being under the mark implies that the overall market is realizing more losses than profits. Now, here is a chart that shows the trend in the 30-day and 365-day moving averages (MAs) of the Bitcoin SOPR over the past decade: As is visible in the above graph, the 30-day MA of the Bitcoin SOPR fell under the 365-day earlier in the year, but recently, it has reversed its direction and has broken past the level. This increase naturally corresponds to the return of notable profit-taking in the sector following the latest rally of the cryptocurrency. In the chart, the quant highlighted the previous instances of this crossover. It would appear that each of these led into bullish price action for the asset. “After the golden cross appears, the market usually starts a strong rise within 2 months at the latest,” notes the analyst. Thus, it’s possible that Bitcoin could be gearing up for another run shortly. This latest bullish crossover in the Bitcoin SOPR is the second time this cycle that the pattern has appeared, so it’s possible that the run now would lead the asset to its final peak of the cycle. It remains to be seen, though, whether the crossover between the monthly and yearly averages of the indicator would prove to be bullish for BTC or not. BTC Price At the time of writing, Bitcoin is trading at around $95,000, down almost 3% over the last week.

NewsBTC 2024-12-03 04:00
Vitalik Buterin Reflects on Ethereum’s Early Struggles and Future as a ‘World Computer’
Ethereum co-founder Vitalik Buterin recently disclosed in an interview with Wu Talk Blockchain that in the aftermath of the Ethereum mainnet launch in 2015, the project’s foundation was precariously low

CoinOtag 2024-12-03 03:50
Here’s What Could Trigger the Next Wave of Altcoin Rallies, According to Crypto Strategist Rekt Capital
A crypto strategist who nailed the pre-halving Bitcoin ( BTC ) correction earlier this year says altcoins will likely rip once this large-cap coin takes center stage. Pseudonymous analyst Rekt Capital tells his 517,800 followers on the social media platform X that a bullish Ethereum ( ETH ) would be very favorable for the altcoin market. “An ETH breakout would lead the next wave of altcoin rallies.” Looking at Ethereum, the trader says ETH is very close to sparking a high timeframe breakout. “Ethereum is now pressing past the ~$3,700 resistance of its main pattern (light blue). A weekly close above the pattern top would kickstart a breakout and end the 2024 ETH downtrend.” Source: Rekt Capital/X Ethereum has closed the latest weekly candle above $3,700. At time of writing, Ethereum is trading for $3,731. Late last month, Rekt said that Ethereum moving above $3,100 would trigger capital rotation from Bitcoin to ETH. He also shared a chart suggesting that capital would eventually move from ETH to mid-cap and subsequently lower-cap coins. “A weekly close above the blue diagonal resistance ($3,100) would likely set up another wave in the money flow cycle as ETH would take control of large-cap money flow.” Source: Rekt Capital/X As for Bitcoin, Rekt says the crypto king needs to rally above its immediate resistance to spark an upside burst toward the six-figure level. “Bitcoin is now trying to press beyond the bull flag top. A daily close above the bull flag resistance of ~$97,450 could kickstart additional trend continuation to get closer to challenging $100,000 once again.” Source: Rekt Capital/X At time of writing, Bitcoin is trading for $97,891. Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: DALLE3 The post Here’s What Could Trigger the Next Wave of Altcoin Rallies, According to Crypto Strategist Rekt Capital appeared first on The Daily Hodl .

The Daily Hodl 2024-12-03 03:00
Bitcoin to Enter Final Bull Phase? Key Indicator Hints at Major Price Movement
Bitcoin, the world’s leading cryptocurrency, appears to be on the brink of a potential sharp rise. According to a CryptoQuant analyst, Crypto Dan, the market could experience a significant upward trend within the next two months. This insight , shared on the CryptoQuant QuickTake platform, is based on a critical market indicator that has historically signaled major price rallies. Bitcoin Market Outlook: Sharp Rise Incoming In the post titled “Strong Rise in Bitcoin is Expected Within 1-2 Months”, Crypto Dan highlights the emergence of a “golden cross” in the Spent Output Profit Ratio (SOPR) indicator. This occurrence, he notes, is a rare event that typically happens only once or twice during an entire bull market cycle. As part of the current bullish cycle that began in January 2023, its reappearance is being seen as a strong precursor to a substantial market move . For further context, the SOPR Ratio indicator measures realized profits and losses in the Bitcoin market, offering insight into investor sentiment. The “golden cross” identified by Crypto Dan signifies a pivotal moment in the bull cycle . Historically, this signal has been followed by strong price increases within two months of its appearance. Crypto Dan explained that the market is likely entering the final phase of the current upward cycle, a stage characterized by steeper price gains and shorter periods of consolidation . This means that while Bitcoin’s ascent might accelerate, the opportunities for investors to accumulate at lower prices could diminish rapidly. Furthermore, he projected that if the anticipated rise materializes by the end of 2024 or the first quarter of 2025, it could draw significant new capital into the market. The inflow of additional funds is expected to fuel Bitcoin’s momentum, potentially driving the market to its peak during this cycle. Dan wrote: As the market moves towards the later stages of the cycle, the magnitude of the rise tends to be larger, and the periods of decline/adjustment are shorter. If a steep rise occurs as implied by this indicator within the end of 2024 to the first quarter of 2025, it can be expected that new inflows and additional funds will enter the market, bringing it to its peak. BTC Market Performance Meanwhile, Bitcoin continues to maintain stability above the $95,000 price mark. At the time of writing, the asset currently trades for $96,296, down by 1% in the past day but still up by nearly 40% in the past month. According to a renowned crypto analyst known as Ali on X, while some in the community expect a major retracement in Bitcoin’s price, BTC could do the opposite. The analyst projected BTC could surge to as high as $120,000-$150,000 before the first 30% price correction . Given the fact that #Bitcoin tends to do the opposite of what the crowd believes, there is potential for $BTC to go higher. If the current cycle behaves like the last two, #BTC could go to $120,000-$150,000 before the first 30% price correction. https://t.co/xTHJMITqJa — Ali (@ali_charts) December 2, 2024 Featured image created with DALL-E, Chart from TradingView

NewsBTC 2024-12-03 02:30
ETFs Could Signal a Maturing Market for Bitcoin and Ethereum Amid Record Net Inflows
Recent trends in the cryptocurrency market reveal a significant increase in ETF inflows, indicating a shift towards traditional financial instruments for Bitcoin and Ethereum exposure. As institutional investors continue to

CoinOtag 2024-12-03 02:06

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