It is interesting how Bitcoin's yearly high came on the very last month.
While Bitcoin may have struggled with $38,000 throughout November, Coinglass shows that Bitcoin pulled in 8.8% gains in terms of monthly returns.
Because of this bullishness on Bitcoin's part, the rest of the crypto market has been green, leading us to the topic for today:
If this week turns out to be another green one for the crypto market, here are the top 5 of these cryptocurrencies you should be on the lookout for.
First of all… ETFs.
The odds of next week and the rest of the year being bad ones for Bitcoin are slim. According to a recent report from Standard Chartered, a Bitcoin approval might come in earlier than expected.
Some analysts have even predicted that we might have a few of them as early as January 2024, and whales and shrimp alike have been bagging the cryptocurrency before the incoming pump.
In the charts, Bitcoin is trading above most of its daily EMAs, indicating strong bullish momentum.
Bitcoin is trading above $39,500, which means that $40,000 isn't far behind.
Bitcoin's behaviour around $40,000 is worth watching this week, for investors who don't want to miss a possible pump to $45,000.
Ethereum rebounded off the 20-day EMA last week and has been in a semi-strong uptrend ever since.
Just yesterday, Ethereum broke past the $2,140 resistance for the first time since breaking below in May 2022.
This is a big deal for Ethereum and paints some very bullish prospects for its price action over the next week, and the rest of the year.
Chainlink, after breaking past $13.3, rallied as high as $16.6 before the bears caught up to it.
LINK was dragged under and was forced to retest $13.3. However, from what we can gather in the above chart, LINK may have now rebounded.
This means that LINK is free to go as high as the $18.16, $19.5, and even the $20.9 price targets.
BNB's price action is interesting, in that it has been in a slump since the Binance saga.
At the start of the drama with Binance's CEO and the US government, BNB initially rallied by several percentages to the upside, hitting $270.
Then came the FUD with the news of Changpeng Zhao's resignation which brought BNB straight down from $270 to $228.
The $228 support appears to be holding up well at the time of writing. Together with the $203 support, we have a pretty interesting setup, as shown below:
If a break below $228 occurs from here, we are bound to see BNB retest $203 as a worst-case scenario.
However, if a break below this support does not occur, BNB faces a possible 50% rally this week and over the rest of the year, from $228 to as high as $350.
IOTA has been a market leader over the last week and has shown no plans of stopping soon.
In the snapshot above, IOTA is the second largest gainer in the crypto market, among the top 100 cryptocurrencies.
If IOTA could achieve more than 80% gains last week, one can only imagine what it has in store for the crypto market this week.
IOTA in the charts appears to have broken past $0.3285 and might have been met with stiff resistance, somewhere around $0.3721, as indicated by the long upper wick of Sunday's candlestick above.
IOTA is poised to continue upwards if a close above $0.3285 happens sometime soon. However, if this break does not occur, IOTA would still present some significant shorting and scalping opportunities.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.