**Always take in consideration non of this information is financial advice or official announcement from any specific project, I’m no expert and this is just my personal opinion on certain project mention on this article, cryptocurrencies are extreme high risk assets and you must do you own research**
ETHEREUM leading the way as usual altcoinseason
Xmas is here same as altcoinseason, with ETHEREUM braking the $500 target that was chasing for weeks, bears try to hold down the price for a few weeks but it was actually Bitcoin sucking volatility from altcoins, that’s how usually things work, Bitcoin goes up Altcoins go down and that’s OK because until the market evaluate a certain altcoin higher if Bitcoin goes up this altcoin goes down against its Bitcoin pair but not USD pairs and this is just to stay at a certain USD value, although in this case DeFi tokens got murder and the main reason is because there was too much supply, people have been farming this tokens for month and most got very high evaluations meaning the market decided that there was a certain hype for this projects that push them to insane prices even Yearn.Finance going way over Bitcoin price.
My algo loving $XRP today with $ETHEREUM leading the way
Here ETHEREUM daily chart.
IN MY OPINION, $500 is not the top for ETHEREUM not even if Bitcoin decides to correct, in trading there are resistance points shown in the chart and other turn to be physiological barriers or numbers in this case that sometimes the market just cant brake, last true resistance was around $450 but it felt it took months for ETHEREUM to brake $500, may be because on its previous run on September was short by $10 and only hit $490, who knows this is just a theory I have, I have been buying ETHEREUM on spot after I got burn on a short last week at $467 it just went through like nothing and its currently one of the coins I don’t mind buying at any prices right now because the ETHEREUM pump is just starting with the only possible next resistance is around $635, from now on ETHEREUM will go parabolic and with it the rest of the altcoins.
Today my algo has been loving $XRP, its going crazy, I don’t use it to get crazy profits but to get at least a steady monthly 10% if possible just to make some USDT wile I sleep or I’m away from the computer although trading futures is dangerous on any aspect.
Right now I’m not in any positions (futures), just the regular spot bags short and long term.
$FIL Daily Chart
An altcoin I have been watching for sometime now after it got murder on futures when it got listed on Binance is File Coin $FIL, it has been coiling up and the range is getting tight, “if aint tight aint right” and its potentially setting up for a nice run, with altcoins starting to pop IN MY OPINION this is an altcoin that can do a couple of X in matter of days, on September it had a nice 100% on a week with lot of volume and I think that’s coming up.
Just a little update of what I have been up during the weekend since on weekends I just try to be half time on the computer and usually reading and looking for topics to write about.
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