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Bitcoin Next Move Hinges On Critical $96,600 Region – Here’s Why

The price of Bitcoin saw no overall gain over the past week as the premier cryptocurrency continued to undergo a market correction. Despite multiple upward movements, Bitcoin struggled to break past the $100,000 resistance with its price performance in December continuing to deviate from earlier bullish predictions. Amidst this development, market analysts continue to roll out projections on Bitcoin’s potential price move. Related Reading: Bitcoin Exchange Reserves Surge: Are Traders Preparing For A Major Market Shift? Is Bitcoin Price Top In? In an X post on December 27, crypto technical analysis handle More Crypto Online shared an interesting prediction on Bitcoin in its current corrective state. Using the Elliott Wave Theory, these market analysts have drafted two opposing forecasts on the BTC market named the yellow and white scenarios. For context, the Elliott Wave Theory is a form of technical analysis that hinges on the belief that the financial market moves in repetitive fractal patterns called waves that can be used to predict future price movements. With Bitcoin presently in a corrective structure i.e. moving against the bullish market trend, the white scenario states Bitcoin has completed a B-wave in which it recorded a local price top on December 26th. Currently, the premier cryptocurrency is moving in a C-wave headed to a potential price target in the mid to low $80,000 price zone. The original support zone to counter this bearish movement is around $95,068 – $96,670. However, as Bitcoin establishes new lows, these resistance regions will be recalibrated. On the other hand, the yellow scenario shows that the B-wave, which is concluded in the white scenario, is still developing as part of a larger corrective structure with no price top yet recorded. However, for this yellow scenario to become valid, BTC needs to break above $96,673 signaling that an upward movement is still ongoing. Therefore, as long as this price zone remains unbroken, the white scenario remains the dominant outlook for the Bitcoin market. Related Reading: Is Bitcoin Bull Run Over? What This Legendary Metric Says BTC Price Overview At the time of writing, Bitcoin is trading at $94,790, marking a 1.04% decline over the past 24 hours. Meanwhile, daily trading volume has risen by 10.35%, reaching $52.24 billion. After a week of near-balanced gains and losses, the leading cryptocurrency has dropped 2.00%, with its monthly performance also slipping into negative territory. For market bulls, moving above $96,600 remains the immediate task based on the Elliott Wave theory, however, a major opposition awaits at $100,000 which has proved an effective resistance in recent times. Generally, optimism continues to remain high in the Bitcoin market, especially with the inauguration of US President-elect Donald Trump fast approaching which is expected to herald in a new era of pro-crypto policies. Featured image from ABC News, chart from Tradingview Cryptoknowmics

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Tron News Showcases AI Enhancements, Sui Rises – BlockDAG & Inter Milan Team Up: Over 170K Holders Join!

As 2024 draws to a close, several cryptocurrency initiatives are standing out due to their unique tactics and market evolution. Recent Tron (TRX) news underscores breakthroughs in AI technology, while Sui market analysis indicates a promising future for sustained growth. Moreover, the partnership between BlockDAG Network and Inter Milan aims to broaden its already extensive community of over 170,000 holders by integrating blockchain with global sports platforms. These developments highlight varied strategies and underline the significant impact of visibility and adoption in propelling the crypto sector forward. From Tron’s initiatives in streamlining process creation to the broadening applications of Sui and the notable milestones achieved by BlockDAG’s presale, each project sheds light on critical aspects of the blockchain environment. For those keen on the market dynamics, BlockDAG (BDAG) stands out as a primary crypto coin to monitor closely into 2025. Tron News: Launch of AI-Driven Features The latest Tron news reveals the introduction of its inaugural AI agent on the Sun Pump platform, a pivotal development that allows for the automated generation and real-time modification of process parameters. This update, along with Tron’s collaboration with Bitget, a top cryptocurrency exchange, marks an essential phase in expanding its network’s ecosystem. This integration with AI technology is designed to simplify process creation and elevate user experiences, enhancing both usability and reliability through unique identifiers for each process. Following these updates, TRX has seen a significant uptick in its market value, reaffirming its current relevance and potential growth. Sui Market Analysis: Poised to Challenge Top Contenders Recent Sui market analysis points to the potential of this blockchain to soon contend with major cryptocurrency players. Despite fluctuations in price, Sui has shown considerable growth this past year, with its total value locked significantly increasing since September. The use of the Move programming language is a key factor simplifying development on the Sui platform. The analysis of Sui’s market also highlights robust fundamentals, including escalating adoption rates and strategic partnerships, such as those with USDC and Revolut. Despite the volatile price trends, many in the trading community view Sui as possibly undervalued. Given its strong developer support and expanding practical applications, forecasts suggest Sui is on track for considerable expansion in the upcoming year. BlockDAG’s Alliance with Inter Milan Elevates Global Crypto Visibility The collaboration between BlockDAG and the iconic Italian soccer team Inter Milan has made BlockDAG a highly anticipated crypto coin to watch . This partnership has greatly increased visibility, introducing BlockDAG’s advanced blockchain technology and its potential for substantial growth to millions of soccer enthusiasts globally. Analysts anticipate that this collaboration will boost the ongoing presale of BlockDAG, which has already achieved significant outcomes. The network has successfully raised over $173 million and distributed over 17.5 billion coins to date. Presently, during presale Batch 26, the price of BDAG is at $0.0234. Early participants have realized a ROI of 2240%, underscoring the project’s promising future. BlockDAG’s utilization of Directed Acyclic Graph (DAG) technology facilitates quick, scalable, and secure transactions, distinguishing it as a frontrunner in blockchain technology. The network’s versatility extends across DeFi, gaming, and NFT sectors, providing a broad platform for developers and traders. This multimillion-dollar agreement with Inter Milan provides unique, blockchain-enhanced engagement opportunities for fans and additional benefits for BDAG holders, enhancing the appeal and success of the presale. This partnership merges cutting-edge blockchain technology with a globally renowned sports brand, enhancing overall adoption and interest among traders. In the upcoming weeks, it is anticipated to increase BlockDAG’s community of 170,000 holders, further cementing its position in the crypto presale market. Key Crypto Coins to Monitor: A Year-End Review As the year draws to a close, Tron (TRX) news, Sui market analysis, and BlockDAG’s strategic alliances emphasize the advanced power of blockchain, marking them as the top crypto coins to watch currently. Tron’s enhancements in AI technology have streamlined process creation, improving user experiences and indicating continuous advancements within the network. Sui market analysis highlights its consistent growth and extended collaborations, showcasing its strong potential within the blockchain arena. Moreover, BlockDAG’s partnership with Inter Milan not only magnifies its presale achievements and global presence but also integrates BlockDAG into the lives of millions of soccer fans, expanding its reach and influence. This collaboration not only illustrates the blockchain’s sophisticated technology but also solidifies BlockDAG’s status in the market. Presale: https://purchase.blockdag.network Website: https://blockdag.network Telegram: https://t.me/blockDAGnetworkOfficial Discord: https://discord.gg/Q7BxghMVyu The post Tron News Showcases AI Enhancements, Sui Rises – BlockDAG & Inter Milan Team Up: Over 170K Holders Join! appeared first on TheCoinrise.com . Cryptoknowmics