Ethereum

bullish

Bitcoin

<p>The crypto market is buzzing this week. While Bitcoin (BTC) consolidates after a recent correction, Ethereum (ETH) and Ripple (XRP) continue to soar! Attracting the attention of investors, who wonder how this trend will continue.</p>
<h2 id="h-the-3-major-crypto-trends-to-watch-closely-this-week">The 3 major crypto trends to watch closely this week</h2>
<p>The cryptocurrency market is experiencing interesting movements this week, and three cryptos have caught our attention. First, Bitcoin: it underwent a 7% correction last week, falling to $90,791 before rebounding to $97,000 on Friday. If the upward trend continues, Bitcoin could reach its record high of $99,588. However, technical indicators show mixed signals. The relative strength index (RSI) is at 65, indicating bullish momentum, but the MACD has shown a bearish crossover, signaling potential sell-offs. This likely explains the drop of the <a href="https://www.cointribune.com/en/crypto-markets/bitcoin-btc-en/" target="_blank" rel="noopener noreferrer nofollow">BTC</a> to $95,118 currently, showing a decrease of 2.18% in the last 24 hours.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>Next, Ethereum: <a href="https://twitter.com/vitalikbuterin" target="_blank" rel="noopener noreferrer nofollow">Vitalik Buterin</a>‘s crypto broke and closed above the weekly resistance of $3,454 on Wednesday, reaching $3,601 this Monday. If this support level holds, ETH could test the psychological level of $4,000. The RSI is at 68, well above its neutral level of 50, indicating growing bullish momentum. However, a close below $3,454 could lead to a pullback to $3,335.</p> 
<div class="tradingview-widget-container tradingview--mini-chart">
 <div class="tradingview-widget-container__widget"></div>
 <div class="tradingview--mini-chart--dark">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:ETHUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"dark"}</script>
 </div>
 <div class="tradingview--mini-chart--light">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:ETHUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"light"}</script>
 </div>
 <div class="tradingview-widget-copyright"><a href="https://fr.tradingview.com/symbols/ETHUSD/?exchange=BINANCE" rel="noopener noreferrer nofollow" target="_blank"><span class="text-primary-color">ETHUSD chart</span></a> by TradingView
 </div>
</div> 
<p>According to Ryan Lee, chief analyst at Bitget, these performances of Bitcoin and Ethereum can be influenced by several factors:</p>
<blockquote class="wp-block-quote">
 <p>First, there is the inflow into BTC and ETH ETFs. In November, BTC ETFs recorded a net inflow of $5.6 billion, while ETH ETFs reached a single-day record high with a $300 million increase.&nbsp;Second, the momentum of sector assets is significant. The rotation of market funds among different sectors has accelerated, with assets within the Ethereum ecosystem experiencing widespread gains. Third, the ongoing net inflow of stablecoins is noteworthy.</p>
</blockquote>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://www.bitget.com/referral/register?from=referral&amp;clacCode=Y6GU6UFX" target="_blank" rel="noopener noreferrer nofollow">Your 1st cryptos with Bitget</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">This link uses an affiliate program.</a>
</div>
<p>Finally, Ripple: after breaking the $1.66 barrier in November, this crypto experienced an increase of over 60% last week, reaching a new three-year high of $2.35. If the bullish momentum continues, XRP could test the level of $2.66, and even <a href="https://www.cointribune.com/en/why-the-price-of-xrp-could-soon-reach-10/" target="_blank" rel="noopener noreferrer nofollow">reach $10</a>. However, the RSI at 93 signals overbought conditions, suggesting an increased risk of correction. This is why this Monday, XRP shows a decrease of 1.61% and is currently trading around $2.27.</p>
<h2 id="h-finally-the-altsaison">Finally the Altsaison?</h2>
<p>After the impressive performances of XRP and Ethereum, can we finally say that <a href="https://www.cointribune.com/quest-ce-que-laltcoin-season/" target="_blank" rel="noopener noreferrer nofollow">Altsaison</a> has started, or is it still too early to rejoice? Technical indicators and market trends show positive signs, but the persistent volatility of the crypto market leaves room for doubt. The coming days will therefore be crucial to observe and confirm the phenomenon.</p>
<p>In summary, while Bitcoin consolidates, <a href="https://www.cointribune.com/ethereum/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> and Ripple show signs of continuing their rally. Crypto investors must remain vigilant regarding technical indicators to navigate this volatile market.</p>

Bitcoin, Ethereum, Ripple: 3 Scenarios To Watch This Week

Table of Contents

Cointribune EN

Other articles published on Dec 2, 2024

HyperLiquid HYPE Token Launch: Everything You Need to Know

4 Best New Meme Coins to Invest in for Short-Term ROIs

ADA’s $3 target back in play as rival altcoin aims to turn $544 into $54,400 in 58 days

DMM Bitcoin Plans to Liquidate Amid Market Challenges

Shiba Inu Lead Dev Sparks Debate Over SHIB Burn With Cryptic Post

Top Crypto Gainers of the Day with Notable Price Surges

Join our free newsletter for daily crypto updates!