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Monday morning look at Bitcoin & Ethereum. Nictrades shows you how she uses technical analysis to read the markets and what to look for in the next 24 hours.
Author
Nicola Duke
Nictrades
Nicola Duke is a professional trader. She teaches trend following systems that she has employed for over a decade as an independent & hedge fund trader with real time examples in Forex, cryptocurrency, commodities and stocks.
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Aave (AAVE) price is trading above $204 at the time of writing on Friday and approaching the upper boundary of its descending parallel channel; a breakout from this structure would favor the bulls.
Meme coins, including Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE), struggle to regain strength as the broader cryptocurrency market recovers. Derivatives data reveals fresh retail demand as Open Interest of DOGE, SHIB, and PEPE futures surge.
Terraform Labs founder Do Kwon was sentenced to 15 years in prison by a New York federal court on Thursday for his role in organizing one of the largest cryptocurrency frauds in history.
Bitcoin (BTC) and Ethereum (ETH) are nearing the key resistance levels at the time of writing on Friday, and a successful breakout could open the door for a fresh rally. Meanwhile, Ripple (XRP) is stabilizing around a crucial support zone, hinting at a potential rebound if buyers maintain control.
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Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.