U.Today – U.Today has summarized the top three important news stories of the past day, check them out!
New prediction from Peter Brandt could shock bulls with bearish reality
As the year 2024 comes to an end, market participants are closely watching the level at which the price of Bitcoin will enter in 2025. Although the flagship crypto reached a new all-time high this month, it is now trading in below this threshold, indicating potential weakness, despite an increase of 128% since the start of the year. In light of these market fluctuations, famous trader Peter Brandt used the X platform to share that Bitcoin is currently exhibiting a clear head and shoulders trend. According to Brandt, there are three possible scenarios for how this model could work. “It could be completed and raise the price to $78,000; it could fail with heavy hiring: or it could turn into something else,” he wrote in his article he current state of affairs, this is a head-and-shoulders high, which needs to be exchanged for what it is.
Volume Skyrockets 87%, Will Price Follow?
Recent on-chain data shows that XRP is now showing the first signs of recovery after a week-long decline that resulted in a loss of over 6%. According to CoinMarketCap, yesterday the asset’s trading volume jumped 87% to $4.57 billion, providing the liquidity needed to meet changing demand. As of this writing, that number has climbed even higher, to $6.25 billion in the last 24 hours. After reaching a high of $2.86 on December 3, XRP is facing bearish sentiment, but recent developments indicate a possible rebound, with increased volume a potential catalyst. Additionally, metrics such as a 2.66% increase in XRP open interest, according to CoinGlass, suggest that market participants are positioning themselves for a recovery, with an initial goal of reclaiming the resistance zone of 2, $25. Currently, XRP is changing hands at $2.09, up 0.56% in the last 24 hours, according to CoinMarketCap.
40 trillion (SHIB) support is ready: what’s next?
Despite a general market slowdown, the Shiba Inu is approaching an important support level, supported by trading volume…..