Cryptocurrency markets followed a generally positive trend today. While the transaction volume in the last 24 hours was at the level of 116 billion dollars, the transactions continued mainly by buyers.
Accordingly, towards the evening hours, 96 of the top 100 cryptocurrencies maintained their positive momentum, while only 4 cryptocurrencies were negative at a low rate.
Bitcoin (BTC) is trading at $48,700 with an increase of 2.5 percent, while Ethereum (ETH) is trading at $ 4,060 with a 6.5 percent gain. Kadena (KDA), BORA (BORA), Elrond (EGLD), Arweave (AR), Helium (HNT) and Avalanche (AVAX), which have yielded more than 20% in the last 24 hours, have become the prominent altcoins.
In order for the price movement, which continues its horizontal movement in the medium-long term, to enter an upward trend, candles must close above the 50777 resistance level. 46750 support level was tested 4 times in the declines and gave its reaction. If there is a candle close below this level, a pullback can be seen to the 42966 support level.
The price action, which should close above the 4170 resistance level to end the downtrend in the medium-long term, showed that it is willing with a sharp rise with yesterday's FED decision. 3823 and 3676 support levels should be followed on the declines. If there is a candle close above the 4170 resistance level, an increase can be seen up to the 4500 level.
On the daily chart, after the Harmonic GARTLEY Pattern formation was completed, it took its 1st target by getting a reaction. If the candle closes above 0.8830, the uptrend starts again and the rise can continue until the 1.0150 level. 0.7010 and 0.6033 support levels should be followed on the declines.
Although the price movement in the downward channel showed a sharp rise to the resistance zone we specified, it started to decline again by getting a reaction. If the candle closes below the 0.1591 support level, the decline may continue until the 0.1310 support level. In order to enter an uptrend, we need to see a candle close above the 0.1940 resistance zone, if a candle close is seen above this level, the rise can continue up to 0.2379 and 0.3000 levels.
Cardano (ADA) continues to find support at the $1.2 levels after falling sharply on December 4. Some market analysts, on the other hand, remain optimistic about the Cardano price.
If the price action holding the 1.157 support zone on the daily chart closes above the 1.496 level, the uptrend starts again. If the candle closes below the support zone we have mentioned, the declines can continue up to the 1.020 support level. If the candle closes above the resistance level of 1.496, the rise can continue up to the levels of 1.924 and 2.000.