{"id":43391,"date":"2024-12-16T13:32:53","date_gmt":"2024-12-16T13:32:53","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/weekly-price-analysis-the-market-recovers-from-technical-selloff\/"},"modified":"2024-12-16T13:32:53","modified_gmt":"2024-12-16T13:32:53","slug":"weekly-price-analysis-the-market-recovers-from-technical-selloff","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/weekly-price-analysis-the-market-recovers-from-technical-selloff\/","title":{"rendered":"Weekly Price Analysis: The Market Recovers from Technical Selloff"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/12\/Price-analysis-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/12\/Price-analysis-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/12\/Price-analysis-smartcrop-750x375.png\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/12\/Price-analysis-smartcrop-363x181.png\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Despite a market-wide price decline at the start of last week, the crypto market recovered as Bitcoin closed the week at $102,800.<\/li>\n<li>Bitcoin has now reached a new all-time high of $106,000.<\/li>\n<li>Meanwhile, US spot crypto ETFs continue to log consecutive positive days of inflows.<\/li>\n<\/ul>\n<p><strong>Bitcoin<\/strong><\/p>\n<p><a href=\"https:\/\/coinjournal.net\/bitcoin\/what-is-bitcoin\/\">Bitcoin<\/a> has logged new highs of $106,400 since its dip last week to $94,000, driven largely by positive ETF inflows as US spot Bitcoin ETFs record another week of consecutively positive daily inflows.<\/p>\n<p>From Dec. 9 to Dec. 13, $2.17 billion flowed into the top 10 US spot BTC ETFs.<\/p>\n<p>Current price action shows Bitcoin has broken its previous high of $104,000 and trades at $104,500 after reaching a new high of $106,600.<\/p>\n<p><img loading=\"lazy\" fetchpriority=\"high\" decoding=\"async\" data-source=\"CoinJournal\" class=\"alignnone  wp-image-256237\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2024\/12\/BTCUSD_2024-12-16_11-40-25_066f5.png\" alt=\"\" width=\"836\" height=\"464\"\/><\/p>\n<p>The Fed rate policy decision coming up on Dec. 18 could significantly impact price action. Expectations are hawkish with more controlled slashes moving into next year, which could negatively impact risky assets like Bitcoin.<\/p>\n<p>Price technicals support a hawkish stance as <a href=\"https:\/\/coinjournal.net\/bitcoin\/\">Bitcoin\u2019s price<\/a> could push downward to grab liquidity at lower levels around $100,000.<\/p>\n<p><strong>Ethereum<\/strong><\/p>\n<p>The second-largest crypto rebounded from a weekly low of $3,500 to a local high of $4,000. Unlike Bitcoin, it has not broken the previous high formed at the $4,100 level.<\/p>\n<p>Meanwhile, Ethereum spot ETF inflows remained positive throughout last week, totalling $854.8 million.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" data-source=\"CoinJournal\" class=\"alignnone  wp-image-256238\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2024\/12\/ETHUSD_2024-12-16_12-18-20_e9a2f.png\" alt=\"\" width=\"838\" height=\"465\"\/><\/p>\n<p><a href=\"https:\/\/coinjournal.net\/ethereum\/what-is-ethereum\/\">Ethereum<\/a> trades at $3,950 at the time of publishing.<\/p>\n<p><strong>Solana<\/strong><\/p>\n<p>Unlike Bitcoin and Ethereum which have rebounded since last week, <a href=\"https:\/\/coinjournal.net\/solana\/\">Solana\u2019s price<\/a> has declined since failing to close above its all-time high of $260 on the daily time frame.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" data-source=\"CoinJournal\" class=\"alignnone  wp-image-256239\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2024\/12\/SOLUSD_2024-12-16_13-00-29_30486.png\" alt=\"\" width=\"852\" height=\"474\"\/><\/p>\n<p>Price action on intermediate time frames (H4\/H1) shows rejection and sells from local supply zones which may continue until a logical demand zone at $160. Solana\u2019s price will need to break above $247 on the H4 and eventually close above the all-time high on the daily time frame to resume its bullish motion.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" data-source=\"CoinJournal\" class=\"alignnone  wp-image-256240\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2024\/12\/SOLUSD_2024-12-16_13-11-22_56494.png\" alt=\"\" width=\"859\" height=\"478\"\/><\/p>\n<p>Solana trades at $214 at the time of publishing.<\/p>\n<p><strong>Ripple<\/strong><\/p>\n<p><a href=\"https:\/\/coinjournal.net\/ripple\/\">Ripple\u2019s price<\/a> action has been incredibly bullish following its legal wins and expected changes to the US regulatory landscape. The crypto surpassed its former all-time high of $1.99 and formed a new ATH of $2.90 on Dec. 3.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" data-source=\"CoinJournal\" class=\"alignnone  wp-image-256241\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2024\/12\/XRPUSD_2024-12-16_13-25-19_66e57.png\" alt=\"\" width=\"854\" height=\"474\"\/><\/p>\n<p>More recent price action shows a pullback from highs as the price formed a new local supply zone, rejected, and sold from it. A continuation of the current trend would see price take liquidity at the $1.90 level while a reversal would see price break above $2.65.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" data-source=\"CoinJournal\" class=\"alignnone  wp-image-256242\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2024\/12\/XRPUSD_2024-12-16_13-39-39_3b221.png\" alt=\"\" width=\"854\" height=\"474\"\/><\/p>\n<p><a href=\"https:\/\/coinjournal.net\/ripple\/what-is-ripple\/\">Ripple<\/a> trades at $2.36 at the time of publishing.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/weekly-price-analysis-the-market-recovers-from-technical-selloff\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Despite a market-wide price decline at the start of last week, the crypto market recovered as Bitcoin closed the week at $102,800. Bitcoin has now reached a new all-time high of $106,000. Meanwhile, US spot crypto ETFs continue to log consecutive [&hellip;]<\/p>\n","protected":false},"author":3947362368,"featured_media":43392,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/43391"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362368"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=43391"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/43391\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/43392"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=43391"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=43391"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=43391"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}