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📊 Why Solana’s $264.63 All-Time High Could Be Back in Sight Solana (#SOL ) has experienced a resurgence in price, climbing 5% over the past 24 hours. As of this writing, the altcoin trades at $233. A look at the coin’s daily chart reveals strong indicators of bullish momentum, suggesting that a rally to reclaim its all-time high of $264.63 — last seen on November 22 — may be on the horizon. This analysis delves into two factors driving this bullish outlook and explains why Solana might soon retest its historical price peak. 🔸 Two Key Reasons #Solana May Extend Its Gains Firstly, a bullish flag pattern has emerged on the SOL/USD daily chart, and the coin’s price trades close to the upper line of the “flag-like” side of this pattern. A bullish flag pattern is formed after a strong upward price movement, followed by a period of consolidation resembling a downward-sloping or sideways “flag.” This pattern signals that the asset temporarily pauses before likely resuming its upward trend. As with SOL, when an asset’s price trades near the upper boundary of the “flag-like” side, it suggests strong bullish momentum, as buyers keep the price elevated within the consolidation range. A breakout above the upper line of the flag confirms this pattern and is often followed by a significant rally that mirrors the height of the preceding flagpole. In addition, on December 11, SOL bounced off the dynamic support offered by its Super Trend Indicator at $212.50 and has since climbed by 10%. This indicator measures the overall direction and strength of a price trend. It appears as a line on the chart, changing color based on the prevailing trend: green signifies an uptrend, while red indicates a downtrend. When the Supertrend line appears below the price, it acts as a support level, signaling a bullish trend and suggesting that the price will likely remain above this level. As in #SOL ’s case, if the price respects this support, it strengthens the bullish sentiment and hints at a continued rally.
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🤔 Time to Buy $LINK ? Chainlink Open Interest Soars to All-Time High On December 12, 2024, Chainlink (LINK) seems to be in the eyes of both whales and institutions, leading to a notable price surge in the past 24 hours. According to a whale transaction tracker on X (formerly Twitter), significant accumulation has been reported, ranging from wallet-linked Trump to whales. 🔸 Whales and Institutions Rising Interest in LINK During the Asian trading hours, Eyesonchain, a blockchain-based transaction tracker made a post on X that Trump’s World Liberty Financial acquired a significant 41,335 LINK, worth $1 million. This notable purchase was made at an average price of $24.19. Additionally, another blockchain-based transaction tracker Lookonchain made a post on X that a whale had invested a substantial 1,263 ETH worth $4.95 million to acquire 175,424 LINK tokens at an average price of $28.18 level. 🔸 Chainlink (#LINK ) Open Interest Reaches All-Time High These two substantial acquisitions in less than 12 hours have gained widespread attention from the crypto community, resulting in a record jump in price and future open interest (OI). According to the on-chain analytics firm Glassnode, LINK’s price has jumped to its highest level in the past two years, while its future OI has reached an all-time high of $770.27 million. 🔸 #Chainlink (LINK) Technical Analysis and Upcoming Levels According to expert technical analysis, LINK is currently facing strong resistance near $29 and is attempting to breach this level. With significant institutional interest, crypto whales, and trader confidence, there is a strong possibility it could break through this level in the coming days. Based on the recent price action, if LINK breaches this level and closes a candle above $29.50, there is a strong possibility it could initially soar by 20% to reach the next resistance level of $35, and later surge by 80% to reach the $52.50 level, which is its all-time high.LINK
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📈 #Aptos price chart pattern points to a 42% jump Aptos, the fast-growing Layer-2 network, has rallied over the past four months, with technical indicators pointing to a potential 120% jump. Aptos (#APT ) reached $13.60 on Dec. 12, marking a 215% increase from its lowest level in August this year. This recovery happened as Bitcoin (BTC) and other altcoins experienced significant rebounds. Bitcoin appears to have set a strong floor price of $100,000, while the Altcoin Season Index has surpassed 70. Altcoins like Aptos tend to perform well during Bitcoin’s strong uptrends, as investors often seek cheaper alternatives. Data also indicates growing developer interest in Aptos. Its total value locked (TVL) in the decentralized finance industry has surged to over $1.245 billion, up from $121 million in January. Key players in the Aptos DeFi ecosystem include dApps like Aries Markets, Amnis Finance, Echelon Market, and Cellana Finance. Additionally, Aptos has accumulated $321 million in stablecoins, a figure that continues to grow. Aptos is also gaining market share in the decentralized exchange industry. DEX protocols in its ecosystem have handled over$10.2 billion in volume since inception. Its DEX volume rose by 26% to over $349 million in the last seven days, making it the 13th biggest player in the industry. Crypto analysts believe that Aptos has room to go, with most of them comparing it with Sui (SUI). Sui has grown into a $13.8 billion coin. In an X post, Man of Bitcoin predicted that Aptos would jump to $16.30 soon. 🔸 Aptos price has more upside The daily chart highlights a strong rally for APT since bottoming out at $4.30 in August. During this period, the price has consistently formed higher highs and higher lows. Aptos has also displayed a “break and retest” pattern, pulling back to $10.40, which aligns with its April 21 swing high and the 38.2% Fibonacci retracement level. Moreover, the price is gradually forming a “cup and handle” pattern, a bullish setup characterized by a rounded bottom.
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🗽 US inflation rose to 2.7% (2.6% last month), right on target Market prices 96% chance of Fed rate cuts continuing in December, sends $BTC back to $101k #BTC #Bitcoin
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📣 $XRP Price Prediction For December 12 Ripple’s XRP is currently up by more than four percent and is trading at the $2.40 levels. The current chart for XRP remains largely unchanged and the primary outlook suggests that XRP could be in the later stages of a bullish structure. The question now is whether this is the breakout to new all-time highs or if the price will test the previous all-time high around $3.30. 🔸 Key Support and Resistance Levels A reaction has been observed at the previous breakout point, which occurred at the 2021 high. The green line on the chart, representing this breakout point, was tested from above yesterday. It’s possible that XRP is still in wave three, with one more potential high before the market moves forward. Even if the price dips below the green line, indicating short-term weakness, there is a Fibonacci support zone between $1.5 and $1.7. However, the smaller-time frame support levels are more critical for the short term. 🔸 Larger Time Frame Outlook The outlook remains that XRP is in the third wave of the cycle. This remains the case until the market shows significant deviation from this pattern. If this scenario plays out, after the completion of wave four, wave five could potentially take the price into the $5-$10 range. 🔸 Critical Support Levels For the bullish scenario to hold, the price should ideally maintain the $1.99 level, which represents the 78.6% retracement of yesterday’s rally. In a more bullish case, the price should not dip below this level. Additional support levels are found between $2.20 and $1.99, including levels at $2.14, $2.07, and $1.99. This is the key zone where the price should hold before potentially pushing higher. While there is no guarantee that the pullback will happen, it’s also possible that waves A or one will form another high, leading to a five-wave move upwards. If the pullback occurs, the critical support area is where buyers should ideally step in. #XRP #Ripple
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