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Ethereum Struggles Below $3,659 Resistance: Is Momentum Fading?

Ethereum is grappling with a critical resistance level at $3,659 as momentum appears to wane. After a period of steady gains, the cryptocurrency has moved into a consolidation phase, with bulls struggling to push it higher. The pause has raised questions about whether Ethereum’s rally is losing steam or simply gearing up for its next big move. This article aims to analyze ETH’s current consolidation below the $3,659 resistance level, focusing on its implications for market pressure. It will also determine whether ETH can regain its upsurge or if fading strength could lead to further declines through technical indicators, support zones, and potential breakout scenarios. What Key Indicators Say About Ethereum’s Price ETH is displaying strong bearish momentum on the 4-hour chart, with its price attempting a move toward the $3,360 level and the crucial 100-day Simple Moving Average (SMA). This key level could act as dynamic support, determining the next move. A rebound may follow a successful defense, while a break below could lead to more drops and test lower support zones. An analysis of the 4-hour chart shows that ETH’s Relative Strength Index (RSI) has dropped to 56%, down from the overbought zone. This decline signals a reduction in buying pressure, suggesting a possible shift in market sentiment. As the RSI pulls back, it indicates that bullish sentiment may be fading, and the market could be heading for consolidation or reversal. If the RSI continues to fall, it would confirm increasing selling pressure, potentially leading to deeper corrections. Despite staying above the daily 100-day SMA, Ethereum is showing bearish signs, with its price steadily declining toward the $3,360 level. While the 100-day SMA offers some support, the downward movement implies that selling pressure is dominant, weakening the bullish momentum. A continued decline could test the strength of the $3,360 support, and a break below it might lead to further losses, signaling a deeper market pullback. Finally, the 1-day RSI indicates growing negative pressure on ETH since the signal line fell back to 65%, aiming to move toward the 50% threshold. As the RSI continues to drop toward this threshold, it shows that sellers are gaining dominance, possibly paving the way for additional declines unless buying pressure can return to shift the sentiment. Will Ethereum Find New Support Or Sink Further? A key level to monitor is $3,360, which has historically served as a strong support zone. If Ethereum can hold above this level, it could trigger a rebound, pushing the price toward the next resistance at the $3,659 mark. However, should the price fail to maintain above $3,360, ETH may experience a notable downswing, with $3,051 emerging as the next key support range. A break below this support may open the door to additional downward movement, targeting even lower support zones. Crypto Potato

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Discover Qubetics, Bitcoin, and Avalanche’s unique features, latest developments, and investment potential as The Best Cryptos to Join This Week

December 2024 has been a dynamic month for the cryptocurrency market. Bitcoin (BTC) recently reached a record high of $99,830 on November 22, 2024, before experiencing a slight decline. Avalanche (AVAX) has also shown significant growth, with its price reaching $42.89, indicating a positive trend. Amidst these developments, Qubetics ($TICS) is making waves with its innovative approach to simplifying crypto payments, positioning itself as a promising investment opportunity. Qubetics is currently in Presale Phase 10, offering tokens at $0.025 each. The presale has successfully raised over $3.6 million, with more than 239 million tokens sold to over 4,800 holders. With a 10% price increase scheduled for the next phase and a projected post-presale price of $0.25, early investors could potentially see a 900% return on investment. This makes Qubetics a compelling option for those seeking the best cryptos to invest in December 2024. Qubetics ($TICS): Simplifying Crypto Payments Navigating the complexities of cryptocurrency transactions can be daunting, but Qubetics aims to change that. Its non-custodial Multi-Chain Wallet integrates seamlessly with major financial platforms like Apple Pay and Google Pay, available across iOS, Android, and desktop. This integration makes crypto transactions as straightforward as everyday payment methods, eliminating traditional barriers. A standout feature of Qubetics is its smart contract conversion mechanism, which automatically converts digital assets into fiat currencies at the point of sale. This protects users from market volatility and ensures stable, secure transactions. Additionally, Qubetics operates with a no KYC (Know Your Customer) policy, allowing users to engage in transactions without the need for extensive personal information verification. Consider a freelance graphic designer working with international clients. Using Qubetics, they can receive payments in various cryptocurrencies, which are instantly converted into their local currency, simplifying the payment process and avoiding potential losses due to crypto market fluctuations. Similarly, a small retail business can accept crypto payments without worrying about price volatility, as Qubetics ensures immediate fiat conversion, providing a seamless experience for both the business and its customers. With the presale offering tokens at $0.025 and a projected post-presale price of $0.25, Qubetics presents a significant investment opportunity. The platform’s innovative solutions to real-world problems make it a strong contender among the best cryptos to invest in December 2024. Bitcoin (BTC): The Market Leader Bitcoin continues to dominate the cryptocurrency landscape. On November 22, 2024, BTC reached a record high of $99,830, driven by increased institutional adoption and favorable regulatory developments. Although it has experienced some volatility since then, Bitcoin remains a cornerstone of the crypto market. As the first and most widely recognized cryptocurrency, Bitcoin serves as a digital store of value, often referred to as “digital gold.” Its decentralized nature and limited supply contribute to its appeal as a hedge against inflation and economic uncertainty. For investors seeking a relatively stable asset in the volatile crypto market, Bitcoin offers a reliable option. Its established infrastructure and widespread acceptance make it a foundational component of any diversified crypto portfolio. Given its recent performance and the overall positive market sentiment, Bitcoin stands out as one of the best cryptos to invest in December 2024. Avalanche (AVAX): Enhancing Blockchain Scalability Avalanche has emerged as a leading platform in the blockchain space, known for its high scalability and fast transaction processing. Recently, AVAX’s price reached $42.89, reflecting growing confidence in its capabilities. Analysts predict that AVAX could surge to $65, indicating significant growth potential. Avalanche’s unique consensus mechanism and architecture allow it to process thousands of transactions per second, making it an attractive platform for decentralized applications (dApps) and enterprise solutions. Its focus on interoperability enables seamless communication between different blockchain networks, fostering a more connected and efficient ecosystem. Developers are increasingly choosing Avalanche for its low fees and high throughput, leading to a vibrant and growing community. For investors looking to capitalize on the expanding blockchain infrastructure, AVAX presents a compelling opportunity. Its technological advancements and positive market trajectory position it as one of the best cryptos to invest in December 2024. Final Thoughts on What to Choose Each of these cryptocurrencies offers unique advantages: Qubetics ($TICS): Simplifies crypto payments with seamless integration into everyday financial platforms, offering no KYC transactions and automatic fiat conversions. Bitcoin (BTC): The pioneering cryptocurrency, serving as a digital store of value with widespread acceptance and a strong market presence. Avalanche (AVAX): Provides high scalability and interoperability, making it a preferred platform for dApps and enterprise blockchain solutions. Based on the latest research, we recommend Qubetics, Bitcoin, and Avalanche as the best cryptos to invest in December 2024 . Each offers distinct benefits that cater to different investment strategies, making them valuable additions to a diversified crypto portfolio. For More Information: Qubetics: https://qubetics.com Telegram: https://t.me/qubetics Twitter: https://x.com/qubetics The post Discover Qubetics, Bitcoin, and Avalanche’s unique features, latest developments, and investment potential as The Best Cryptos to Join This Week appeared first on TheCoinrise.com . Crypto Potato