Crypto Price Prediction: The crypto market witnessed steady selling pressure in the last week of 2024, prolonging a correction phase in the majority of major cryptocurrencies. The market leaders Bitcoin and Ethereum falling for three consecutive days registered a 5% and 4.4% decline to current trade at $41742 and $2278.
However, with the long-term rally being Bullish, this post-rally correction can offer suitable pullback opportunities in tokens like BitcoinSV(BSV), Casper(CSPR), and Lido DAO(LDO).
The global cryptocurrency market capitalization currently stands at $1.64 trillion, reflecting a 1.72% decrease from the previous day. Moreover, the total trading volume in the crypto market over the last 24 hours has been $69.28 billion, which shows a decrease of 6.28%
On December 29th, several prominent asset management firms, including BlackRock Asset Management, VanEck, Valkyrie Investments, Bitwise Investment Advisers, Invesco Ltd., Fidelity, WisdomTree Investments, and a collaboration between Ark Investments and 21Shares, updated their filings with regulatory authorities. These documents detail the strategies each firm has implemented with their market makers to enhance liquidity and efficiency in trading. This flurry of activity and the potential for regulatory approval for Bitcoin spot ETF could signal a positive turn for BTC price, as it represents a growing acceptance and integration of cryptocurrencies into mainstream financial markets.
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BitcoinSV(BSV) Price Poised to Retest $89; Buy this Dip?
BitcoinSV(BSV) Price| TradingView Chart
BitcoinSV (BSV) price recently saw a dramatic 94% increase in its value, jumping from $49.3 to $89. This rally was driven primarily by strong demand in the crypto space. Notably, on December 29th, BSV’s trade volume soared by 615.98%, reaching over $612.40 million.
A significant portion of this activity, about 67.25%, was concentrated in South Korea, particularly on the Upbit exchange which handled $513.81 million in BSV trades. This trend indicates a growing interest among South Korean investors in BSV, sparking a market-wide FOMO and pushing prices higher.
However, the daily chart reveals a significant long-wick rejection candle at $100, suggesting profit-taking activities by short-term traders. This action could lead to a potential correction, possibly bringing BSV’s price down to support levels at $89 and then $73.85.
The ADX slope, currently at 32%, suggests a potential weakening of buyer momentum, possibly leading to a market pullback.
Casper Price Analysis: Bullish Pattern Project Early Signs of Bull Run
Casper Price Analysis| TradingView Chart
Casper(CSPR) Price has been on a recovery trajectory since late October, supported by a broader market recovery and the formation of a rounding bottom pattern. After a bullish bounce from $0.029, the coin’s price increased by 76% over ten weeks, reaching a current price of $0.051.
This rally, marked by occasional pullbacks, indicates ongoing accumulation by buyers during market dips, a critical component for a sustained uptrend. Recently, the coin experienced a 7.8% increase, surpassing the previous swing high resistance of $0.051.
This breakout suggests that buyers are gearing up for an extended recovery. If the coin price sustains above this level, the CSPR price might increase by another 23.7%, aiming for the pattern’s neckline resistance at $0.1063.
A successful breakout above this resistance could signal the start of a new bull run, potentially pushing the CSPR price toward the $0.1 psychological mark. During pullbacks, the $20 and $50 EMAs may offer reliable support.
Key Resistance Breakout Sets Lido DAO(LDO) Price For 35% Surge
Lido DAO(LDO) Price| TradingView Chart
Despite the prevailing uncertainties in the cryptocurrency market, the Lido DAO (LDO) price has demonstrated resilience, sustaining above the $2.00 threshold and signaling a robust recovery. Within just two weeks, the LDO price witnessed a substantial bounce from this support level, soaring by 46% to reach $2.885.
This upward trend was further solidified on October 29, when the coin decisively broke out from a bullish reversal pattern known as the inverted head and shoulders, a strong indicator of potential recovery.
Building on the momentum generated by this pattern, the LDO price is poised for further gains. It’s projected to climb an additional 35%, potentially surpassing the previous resistance at $3.3 and aiming for a target of $3.87.
This bullish trajectory is also supported by the Bollinger Bands indicator, where an uptick in the upper boundary signals that buyers are currently exerting significant influence over the asset’s movement.
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