Popular memecoin $PEPE managed to recover after testing key support levels. Many memecoins have been on the rise again as Bitcoin rose above $100,000. Memecoins, which attract investors through community and entertaining content, have been showing positive momentum in the last few days. PEPE, one of the most popular memecoins after Dogecoin and Shiba Inu, managed to hold on to the support zone between $0.000018 and $0.00002 after the decline it experienced on December 9. AMBCrypto stated that PEPE could continue its rise if it stays above the support zone in question. According to AMBCrypto, PEPE will need to create a strong price chart in order to reach a new record level. PEPE, which reached an all-time high of $0.0000284 before the big crash on December 9, may have completed the correction phase created by the increasing selling pressure. According to the analysis, $PEPE , which is trading in the $ 0.000024 region, managed to hold on to the 20-day moving average (EMA). The recovery from this level allowed the price to rise again. According to the graphic analysis, the support of $ 0.000018 and $ 0.00002, which is in line with the 20-day EMA, should be followed. This level is reflected as a critical support area for buyers. If this support is broken, the #PEPE price is expected to fall back to $ 0.000015. It was stated that one of the biggest resistance levels in front of PEPE is $ 0.000025. It was stated that the resistance point in question must be overcome in order for the uptrend to continue. If PEPE can overcome the $ 0.000025 resistance, its next target may be $ 0.0000284. If this area is also overcome, a new record may come and the popular memecoin may touch the $ 0.00003 band.
Bitcoin (BTC), which stepped on the gas after the announcement of the US inflation data, came as a remedy to the altcoin market. BTC, which has been moving downward for a few days, started to rise with the US inflation data announced on December 11. The leader of cryptocurrencies, which exceeded $ 100,000 again, greened the altcoin market. Cryptocurrencies, which continued the bull season where they left off, naturally made their investors happy. 1- Aave (AAVE) $AAVE , the leading name of DeFi projects, recorded a 33 percent increase in the last 24 hours and took the first place on the list. AAVE, known for its rises in the 2021 bull, is back on the stage. If the DeFi trend strengthens, the upward momentum in AAVE may continue. 2- Chainlink (LINK) $LINK , which stands out with its work in the RWA field, increased by 30 percent in the last 24 hours. LINK, which was included in this list after a long break, took second place. 3- Sui (SUI) $SUI , which is integrated into the popular wallet of the Solana network, Backpack, has had a good start. The popular altcoin, which is seen as Solana's rival this season, has shown a performance of 29 percent in the last 24 hours. The outlook for SUI, which targets $ 5 in the short term, is quite positive. 4- dYdX (DYDX) #DYDX , the native token of the decentralized crypto exchange dYdX, has increased by 22 percent in the last 24 hours. DYDX, which is in fourth place on the list, may continue its upward trend as the concept of decentralization gains importance. 5- Virtual Protocol (VIRTUAL) #VIRTUAL , the architect of the AI Agent craze, has increased by 21 percent in the last 24 hours. Approaching $ 2, VIRTUAL may target even higher levels with the volume break of this level. The upward movements in the parity will further strengthen the AI Agent trend.
🧙♂️ Avalanche (#AVAX ) has raised $250 million from Galaxy and other companies. 🧙♂️Grayscale has launched the Optimism Trust. 🧙♂️Blackrock said that allocating a 2% share to Bitcoin in portfolios is reasonable.
Michael van de Poppe, known for his cryptocurrency analysis, made critical statements about the course of the altcoin market. Bitcoin, which has been in a downward trend for a few days, exceeded $ 100,000 again on December 11. The rise of altcoins in this process gave hope. Cryptocurrencies, which recovered in a very short time, continued their bullish trend, while comments from analysts gained more importance.
The TOTAL3/BTC chart made crypto investors happy by rising. This chart provides information about the course of the markets by comparing the altcoin market value with Bitcoin. According to Michael van de Poppe, this chart currently shows one of the strongest bull markets in history.
The famous analyst thinks that excitement among crypto investors has increased with Bitcoin reaching $ 100,000 again. According to Poppe, investors are turning to altcoins during this period when confidence and liquidity increase. In particular, the positive signals from the TOTAL3/BTC pair indicate that we are entering a period where altcoins can outperform Bitcoin. This development can help markets continue their upward movement, supported by liquidity and confidence.
During the recent market corrections, rapid liquidations in futures caused downward pressure on prices. However, from a broader perspective, the market is still showing an upward trend. Markets are maintaining their upward trend by creating higher lows. Based on these developments, Michael van de Poppe told investors to “hold your positions and enjoy the altcoin rally.” Stating that volatility will be high during this process, the famous analyst emphasized that caution should be exercised.
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Bitcoin is back at $100,000: These 5 altcoins opened the bull season!
Bitcoin (BTC), which stepped on the gas after the announcement of the US inflation data, came as a medicine to the altcoin market.
BTC, which has been moving downward for a few days, started to rise with the US inflation data announced on December 11. The leader of cryptocurrencies, which exceeded $ 100,000 again, greened the altcoin market.
1- Aave (AAVE)
#AAVE , the leading name of DeFi projects, has made its name at the top of the list with a 33 percent increase in the last 24 hours. Known for its rise in the 2021 bull run, AAVE is back on the scene. If the DeFi trend strengthens, the upward momentum in AAVE may continue.
2- Chainlink (LINK)
$LINK , which stands out with its work in the RWA field, increased by 30 percent in the last 24 hours. LINK, which was included in this list after a long break, took second place.
3- Sui (SUI)
$SUI , which is integrated into the Solana network's popular wallet Backpack, has had a good start. The popular altcoin, which is seen as Solana's rival this season, has shown a performance of 29 percent in the last 24 hours. The outlook for SUI, which targets $5 in the short term, is quite positive
4- dYdX (DYDX)
$DYDX , the native token of decentralized crypto exchange dYdX, has risen by 22 percent in the last 24 hours. DYDX, which ranks fourth on the list, may continue its upward trend as the concept of decentralization gains importance.
5- Virtual Protocol (VIRTUAL) #VIRTUAL , the architect of the AI Agent craze, has increased by 21 percent in the last 24 hours. Approaching $2, VIRTUAL may target even higher levels with the volume break of this level. The upward movements in the parity will further strengthen the AI Agent trend.
Watch out for these altcoins: Investors are showing great interest!
Magic Eden (ME) The multi-NFT platform Magic Eden (ME), which is on the Solana blockchain, entered the markets the other day. Listed on crypto exchanges such as Binance, OKX and Gateio, ME attracted great attention in a short time. The inter-blockchain NFT platform Magic Eden was included in CoinGecko's trend list. According to CoinGecko data, ME fell by 69.2 percent in the last 24 hours, falling to a market value of $679 million.
Solana (SOL) Solana, a layer-1 blockchain shown as a strong competitor to the Ethereum blockchain, was among the trending altcoins of the day. $SOL , which quickly recovered from the decline it experienced the other day, managed to attract the attention of investors. SOL reached a market value of $106.565 billion with a 3.3 percent increase in the last 24 hours. You may be interested: Huge news for XRP: “It will be a game changer”
Sui (SUI) One of the most popular altcoins of 2024, the layer-1 blockchain Sui ($SUI ), has taken its place on the trend coins list. SUI, which has attracted great attention in the last few months, is talked about in many areas, especially on social media platforms. SUI fell by 0.6 percent in the last 24 hours, dropping to a market value of $ 10.992 billion.
Pepe (PEPE) Pepe (PEPE), the memecoin inspired by the Pepe the Frog figure, became one of the most searched and popular cryptocurrencies of the day. $PEPE , which entered CoinGecko's trend category, is among the favorite candidates of a possible memecoin bull. PEPE fell by 6.7 percent in the last 24 hours, dropping to a market value of $ 9.918 billion.
Bittensor (TAO) Bittensor (TAO), which focuses on machine learning and artificial intelligence, is among the most popular altcoins of 2024. TAO, one of the new players in the crypto sector, stands out with its support for decentralized initiatives. TAO fell by 2.5 percent in the last 24 hours, dropping to a market value of $4.269 billion.
The approval of Ripple’s stablecoin RLUSD from the US has caused the XRP price to rise. One of the most popular altcoins in the crypto ecosystem, XRP, has risen with the sensational development of Ripple Labs. Ripple Labs announced that RLUSD, which it is preparing to launch, has received a valid rating from regulators and has been approved. RLUSD, which aims to include corporate companies, has become a driving force for the Ripple company. The XRP price quickly recovered from the decline it experienced the other day. XRP, which rose with the news, has gained over 20 percent since yesterday evening. Former basketball star Scottie Pippen, who won six NBA championships with the Chicago Bulls, argued that XRP will be a game changer. Ripple Labs’ stablecoin RLUSD will include corporate companies in the blockchain after regulatory approval. The stablecoin in question is expected to record an inflow of over $ 1 billion. The positive impact of RLUSD has pushed the price of the popular altcoin from $ 1.93 to $ 2.35. Analysts have predicted an increase for XRP. Former basketball star Scottie Pippen also expects a rally for XRP. Pippen turned the needle to Ripple in the comparison of Ethereum and Ripple. Pippen, who predicts that the ecosystem will continue to grow day by day, predicts that XRP will take over the reins in 2025. Ripple CEO Brad Garlinghouse emphasized that RLUSD, which received approval from the New York State Department of Financial Services, will be put into service soon. The approval of RLUSD has excited the crypto community. A user named XRPcryptowolf argued that the stablecoin will make XRP the number one altcoin. Crypto analyst Ali Martinez predicted that $XRP will target $ 8.4.
Critical development in Solana (SOL): How does it affect the price?
In the last 48 hours, Solana's funding rate fell by 81 percent, causing fear in investors. Positive funding rates usually indicate that long (bullish) positions dominate the market and traders have a positive approach to the pair. However, the decrease in this rate shows that investors expect a pullback and short (bearish) transactions are preferred more. Although the funding rate remains positive, this rapid decline is quite striking. Traders are hedging (balancing transactions) against the risk of a possible downward pricing. For traders, this shows that the short-term outlook of the market is bearish. Indeed, this development increases uncertainties about Solana's future direction. Solana's active address count fell to its lowest level in December, indicating that user interest is decreasing. Lower activity levels are usually associated with decreased liquidity. The decline in active addresses, which could increase price volatility and hinder network adoption, is a worrying signal for traders and investors. As of writing, Solana’s price is trading at $219 and is trying to turn the $221 band into a support level. If SOL cannot maintain $221, it is expected to pull back to the $200 band. Persistence above $221 could push the $SOL SOL price to $245. On the other hand, Solana has officially launched its first global online AI hackathon, which will be held from December 10-23, 2024. The event, supported by venture capital fund ai16z and the Solana Foundation, covers a variety of areas such as AI infrastructure, token tools, autonomous chatbots, and social/influencer agents.
Jupiter ($JUP ), a decentralized exchange in the Solana ecosystem, is showing signs of a potential recovery after its recent decline. JUP, which lost blood on December 9 when the crypto market experienced a sharp decline, has been giving positive signals in recent days. JUP, one of Solana's favorite altcoins, reached the bottom levels of an ascending channel. AMBCrypto stated that the bottom area supported by Bollinger Bands indicates a trend reversal. According to AMBCrypto's analysis, technical indicators are bullish for Jupiter (JUP). Accumulation/Distribution and increased buying activities signal a possible upward movement. The analysis included the following statements; "Increased accumulation and improved sentiment could cause JUP to rise. This rise could pave the way for the losses of the past days to be erased." JUP, which is trading within an ascending channel, fell to the potential support level of $ 1.01. The analysis suggested that JUP gave a positive reaction at the $ 1.01 support and that the rise would intensify if the trend continued. According to the prepared chart, if the positive momentum is maintained, the JUP price could rise to $ 1.46. If the resistance level of the ascending channel is broken, the resistance at $ 1.6 could be tested. According to AMBCrypto, a possible rise could provide a gain of over 40 percent in JUP. The analysis noted the following; “JUP’s approach to the potential support point indicates that the asset is experiencing excessive selling. It is predicted that the selling pressure may weaken and a potential recovery may begin.” According to the analysis, if the buying appetite increases, the limited supply on the exchanges may create higher demand and this situation may cause $JUP to rise.
Will Ether (ETH) break a record by the end of the year?
The probability of Ether (ETH), the pioneer of altcoins, reaching $5,000 by the end of the year is less than 10 percent. On-chain options protocol Derive stated that the data looks positive for ETH, but does not indicate a major rally. Derive stated that the chance of #ETH reaching $5,000 is quite low. The options protocol stated that although a surprise rally is not expected on the price side, positive signals are coming from the US. The increase in money inflows to spot ETH ETFs traded in the US shows that the popular altcoin is on the radar of institutions. Derive predicted that $ETH will not reach its all-time high by the end of the year, but there may be a supply crisis on the ETF side. Derive Research President Sean Dawson discussed the course of ETH in his market report dated December 10. Dawson stated that ETH's probability of breaking a record has decreased from 16 percent to 8 percent. The Derive president stated that buying and selling transactions in ETH are evenly distributed. According to CoinGecko, ETH needs to jump more than 35 percent from its current levels to reach $5,000. Crypto analyst CoinMamba, however, does not think like Dawson. The analyst predicts that ETH will break a record by the end of the year. CoinMamba made the following statements; "ETH will be $5,000, do whatever you want with this information." Ethereum participant Eric Conner stated that spot ETH ETFs recorded a daily inflow of $300 million and that these inflows will lead to a supply-side demand shock. In these days when Bitcoin is based on $100,000, it has become a matter of curiosity whether $ETH will break a record.
Cardano (ADA) danger is increasing: Could a decline come?
Cardano is trading below a critical level of $ 1 and has lost more than 16 percent in the last seven days. Yesterday's price movements created uncertainty in the market. Even though ADA signaled a recovery from $ 0.93, it could not stay strong. In parallel with Bitcoin's current movement, the market is likely to see a new bottom. Altcoins may be shaken further with a possible decline in BTC.
The current downtrend in Cardano may result in a final bottom, but $ 1 needs to be broken for this to be confirmed. Currently, the ADA price appears to be in a correction process. If a daily close below $ 0.83 comes, selling pressure may increase even more. If a new bottom is formed and the Relative Strength Index (RSI) remains above 20.8-20.9, bullish signals will increase.
Weekly closes above $ 1 will further accelerate Cardano's rise. In addition, the news flow regarding Cardano will be decisive. Higher levels can be targeted with a positive news flow. In addition, sharp increases in major altcoins can affect the Cardano price. For example, major coins such as $XRP , $SOL , and $AVAX have recently come to the fore with their price movements. Cardano started to rise shortly after. If this scenario happens again, expectations from the parity may increase.