New BTC Prediction by Peter Brandt May Shock Bulls With Bearish Reality, XRP Volume Skyrockets 87%, 40 Trillion SHIB Support Ready: Crypto News Digest by U.Today

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As a seasoned analyst with over two decades of experience in the volatile and ever-evolving cryptocurrency market, I’ve seen more bearish patterns than I care to remember. However, the head-and-shoulders pattern that Peter Brandt has pointed out on Bitcoin is something that catches my attention. While it’s always enticing to consider the potential $78,000 price if the pattern completes, I’ve learned over the years not to ignore the possibility of a ‘thrust higher’ failure or a morph into something else. As for XRP, the surge in volume is indeed promising, but history has taught me that it’s the follow-through that counts. If the recovery continues and XRP manages to reclaim the $2.25 resistance zone, it could be an exciting ride. Lastly, Shiba Inu (SHIB) is approaching a crucial support level at $0.000022. As someone who’s seen many altcoins come and go, I can’t help but wonder if this support will hold like a good boy dog or if it will be another instance of “buy the dip” leading to further declines. On a lighter note, let’s hope that SHIB doesn’t end up becoming the next ‘Shiba Inu and bone’ meme, where the ‘bone’ represents the value of your investment!

U.Today has summarized the top three important news stories over the past day, check them out!

New Bitcoin prediction by Peter Brandt may shock bulls with bearish reality

As we near the end of 2024, investors are keeping a close eye on where Bitcoin’s price will start in 2025. Although Bitcoin reached a new record high this month, its current trading price is below that level, suggesting vulnerability, despite a significant 128% increase since the beginning of the year. Given these market swings, well-known trader Peter Brandt recently posted on platform X that Bitcoin appears to be exhibiting a clear head-and-shoulders pattern. According to Brandt, there are three possible outcomes for this pattern: it could reach $78,000, fail and cause a sharp decline, or evolve into something else. At the moment, according to Brandt, Bitcoin is displaying a head-and-shoulders top formation that needs to be treated accordingly.

XRP volume skyrockets 87%, will price follow?

As a seasoned cryptocurrency investor with years of experience under my belt, I have learned to keep a keen eye on market trends and patterns. Recently, I’ve been closely monitoring XRP, which has shown early signs of recovery after a week-long decline that resulted in a loss of over 6%. This asset’s trading volume surged by an impressive 87% to $4.57 billion yesterday, indicating increased liquidity necessary for market respond to shifts in demand.

In my opinion, this significant increase in volume could potentially serve as a catalyst for XRP’s rebound. I have seen similar patterns in the past, where a surge in trading activity often precedes a market recovery. Moreover, the 2.66% rise in XRP Open Interest, according to CoinGlass, suggests that market participants are positioning themselves for a potential recovery. This could indicate that traders are anticipating XRP to reclaim its previous resistance zone at $2.25.

At the moment, XRP is trading at $2.09, marking a 0.56% increase over the past 24 hours, as reported by CoinMarketCap. Given my experience, I believe that these recent developments warrant careful attention from investors. While it’s essential to remain cautious and do thorough research before making investment decisions, the positive indicators for XRP make me optimistic about its future prospects. I will continue to closely monitor this asset as it navigates the volatile crypto market.

40 trillion Shiba Inu (SHIB) support ready: What comes next?

Regarding Shiba Inu, despite the broader market experiencing a deceleration, it’s approaching a substantial support level that could foster growth. This resilience is attributed to a trading volume of 40 trillion SHIB. The In/Out of the Money Around Price (IOMAP) index indicates that should SHIB continue to drop, it may trigger robust support at approximately $0.000022. This critical area could serve as a catalyst for recovery, given that 23,170 wallets have amassed Shiba Inu coins within this price range. At the current moment, SHIB is being traded below this support region, sitting at $0.00002134, marking a 1% decrease over the last day. If SHIB manages to rebound and hold onto this support level, the meme cryptocurrency with a dog theme could initiate an upturn; however, a fall below this point might lead to additional declines, potentially challenging the $0.000020 threshold.

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2024-12-31 18:18