Topic: Daily Cryptocurrency Fundamental And Technical Analysis. (Read 20 times)

KEY HIGHLIGHTS

Bitcoin Hits Record High Amid Volatile Trading
Ripple Maintains Momentum Despite Weekend Resistance Levels
Ethereum Faces Rejection, Struggles Near Key Resistance
Cardano Declines Below Support Amid Bearish Sentiment

INTRODUCTION

The cryptocurrency market saw substantial movement on Monday as Bitcoin reached an all-time high amid volatile trading, while Ripple extended its rally. In contrast, Ethereum and Cardano faced declines, highlighting the mixed performance of major cryptocurrencies. Traders navigated these changes amidst speculative trends and shifting regulatory expectations.

Markets in Focus Today: Bitcoin Hits Record High

Bitcoin Surges Amid Market Volatility

Bitcoin rebounded from early losses on Monday, skyrocketing to a new record high of $109,118. The rally was driven by optimism about potential crypto-friendly regulations under President-elect Donald Trump, who is set to be inaugurated later in the day. Adding fuel to the excitement was the launch of Trump’s memecoin, $TRUMP, which quickly became one of the most valuable tokens despite experiencing high volatility.

Despite Bitcoin’s gains, the broader market remained cautious about altcoins, especially as speculative fervor around memecoins persisted.

Technical Overview for Bitcoin


Moving Averages (MA):

Exponential:

MA 10: 101,153.39 (Bullish)
MA 20: 99,245.47 (Bullish)
MA 50: 96,247.22 (Bullish)

Simple:
MA 10: 99,687.40 (Bullish)
MA 20: 98,211.67 (Bullish)
MA 50: 98,241.96 (Bullish)

RSI: 67.77 (Bullish)
Stochastic Oscillator: 83.55 (Neutral)

Key Levels:

Resistance: R1: 104,106.57 | R2: 108,107.16
Support: S1: 91,155.49 | S2: 87,154.89

Trade Suggestion:

Limit Buy: 103,066
Take Profit: 109,447
Stop Loss: 99,477

Ripple (XRP): Sustaining Upward Momentum.

Ripple continued its rally, building on last week’s breakout above a symmetrical triangle pattern. The price reached $3.30 after a sharp rise of 30.48% on Friday but faced resistance at this level, which led to a 10.14% correction over the weekend. If bullish momentum persists, Ripple could target its pattern projection of $3.63.

Technical Overview for Ripple

Moving Averages (MA):
Exponential:

MA 10: 2.97 (Bullish)
MA 20: 2.75 (Bullish)
MA 50: 2.36 (Bullish)

Simple:
MA 10: 2.94 (Bullish)
MA 20: 2.65 (Bullish)
MA 50: 2.46 (Bullish)
RSI: 68.54 (Bullish)

Stochastic Oscillator: 81.03 (Neutral)
Key Levels:

Resistance: R1: 2.68 | R2: 2.93
Support: S1: 1.87 | S2: 1.62

Trade Suggestion:
Limit Buy: 3.05
Take Profit: 3.40
Stop Loss: 2.87
Ethereum (ETH): Facing Resistance

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