The cryptocurrency market showed volatility before the end of the year, with investors paying close attention to the price trends and future prospects of major cryptocurrencies.
Bitcoin(BTC): Fluctuations within a symmetrical triangle pattern
Bitcoin is currently trading at 12,678,000 KRW, down 1.22% in 24 hours, but up over 2% for the week, showing a stable trend. It is now within a symmetrical triangle pattern, awaiting a direction. If the support level at 12,200,000 KRW holds, a short-term rebound to 13,200,000 KRW is possible. Conversely, if the support is broken, it may decline to the 11,500,000 KRW support zone.
Ethereum(ETH): Breaking resistance is key
Ethereum is trading near 4,300,000 KRW, slightly down 0.19% intraday, but maintaining nearly 2% gains for the week. The key now is to break through the trend resistance line around 4,450,000 KRW; a successful breakout could allow further upward movement. Support is confirmed near 3,980,000 KRW.
Ripple(XRP): Technical indicators improve, potential breakout
XRP is trading in the 2,680 KRW range, attempting to break above the descending wedge pattern’s upper resistance line. RSI has risen to 42, and MACD shows buy signals, indicating positive technical momentum. A successful breakout could push the price toward 2,900 KRW, while failure may lead to a pullback to 2,400 KRW.
Solana(SOL): Maintaining relative strength
Solana is currently trading at 181,179 KRW, continuing its strong performance. Although it has declined 33.7% since the beginning of the year, recent growth in user base and ecosystem expansion have improved investor sentiment. Its volatility has reached twice that of Bitcoin, which is a factor to consider when investing.
Global Market Dynamics: ETF net outflows and rate cut expectations
The global cryptocurrency market has experienced adjustments due to year-end tax settlements and realized losses. In November, ETF markets saw outflows of 42 trillion KRW. However, expectations of U.S. rate cuts and increased liquidity supply are expected to positively impact the market, raising the possibility of a rebound in major cryptocurrencies at the start of the year.
Article summary by TokenPost.ai
BTC: Focus on support at 12,200,000 KRW within the symmetrical triangle pattern
ETH: Further upside possible after breaking 4,450,000 KRW resistance
XRP: Potential breakout above descending wedge → target around 2,900 KRW
SOL: Maintaining high volatility amid ecosystem growth and increasing users
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