Ethereum

bullish

Bitcoin

Gary

<p>The crypto market is undergoing a significant correction at the end of November 2024, with Bitcoin fluctuating around $93,400. This 6% drop since Monday comes as technical indicators signal a concerning bearish divergence. Meanwhile, Ethereum shows signs of resilience near its key resistance level.</p> 
<h2 id="h-a-technical-correction-is-expected-for-bitcoin">A technical correction is expected for Bitcoin</h2> 
<p>The <a href="https://www.cointribune.com/en/why-bitcoin-could-still-fall-before-rising-again/" target="_blank" rel="noreferrer noopener">Bitcoin started a marked correction</a> this Wednesday, November 28, after reaching a new all-time high of $99,588 last Friday. This 7% drop brought the leading crypto down to a low of $90,791 on Tuesday, before a slight rebound above $93,400.</p>
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<p>Technical analysis reveals a <a href="https://www.fxstreet.com/cryptocurrencies/news/top-3-price-prediction-bitcoin-ethereum-ripple-btc-drops-below-92-000-as-technical-indicator-shows-a-bearish-divergence-202411270909" target="_blank" rel="noreferrer noopener">worrisome bearish divergence</a> on the relative strength index (RSI). Indeed, as the price formed a new high on Friday, the RSI posted a lower peak, a classic signal of a potential short-term reversal.</p> 
<p>According to Ryan Lee, chief analyst at Bitget Research, Bitcoin is expected to trade in a range between $85,000 and $120,000 in December. A potentially bullish factor could come from <a href="https://www.cointribune.com/en/bitcoin-as-a-strategic-asset-saylor-defends-his-idea-at-microsoft/" target="_blank" rel="noreferrer noopener">Microsoft, which is considering acquiring Bitcoin</a>, pending approval from its board of directors.</p> 
<div class="affiliate-button"> <a class="affiliate-button__link" href="https://www.bitget.com/referral/register?from=referral&amp;clacCode=Y6GU6UFX" target="_blank" rel="noreferrer noopener">Your 1st cryptos with Bitget</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noreferrer noopener">This link uses an affiliate program.</a> 
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<h2 id="h-ethereum-and-ripple-diverging-trajectories">Ethereum and Ripple: Diverging Trajectories</h2> 
<p>Ethereum is showing resilience in the face of the market correction, trading around $3,420 and approaching its weekly resistance of $3,454. Incoming flows from <a href="https://www.cointribune.com/en/an-american-pension-fund-breaks-the-taboo-of-ethereum-etfs/" target="_blank" rel="noreferrer noopener">Ethereum ETFs</a> have reached a historic high of $300 million in a single day in November, reflecting growing interest from institutional investors.</p> 
<p>Ripple, on the other hand, shows signs of technical weakness after losing its weekly support at $1.40. The RSI indicator in overbought territory at 82 suggests that a deeper correction may occur, with a potential bearish target at $1.12.</p> 
<p>The change in direction at the SEC, with the <a href="https://www.cointribune.com/en/finally-gary-gensler-announces-his-departure/" target="_blank" rel="noreferrer noopener">upcoming departure of Gary Gensler</a> in January 2025, could bring new momentum to the crypto market. His potential successor, Paul Atkins, is thought to be more favorable to the crypto ecosystem, which could positively influence the sector’s outlook for 2025.</p>

What Bitcoin And Ethereum Are Announcing For The Month Of December!

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