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BTC, LTC, TRX Price Prediction - Was Recent Rally Fake One?

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  • Denys Serhiichuk
    📈 Price Predictions

    How might the first day of winter affect the cryptocurrency market? Analyzing the technical picture of the top coins

BTC, LTC, TRX Price Prediction - Was Recent Rally Fake One?
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

The cryptocurrency market has started the first day of December with a decline. All of the top 10 coins are in the red zone. The total capitalization has declined to $200 bln.

Top 10 coins by Coinstats

The main market data of Bitcoin, TRX, and Litecoin.

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$133 365 086 003

$7 377,67

$18 780 058 003

-4.35%

Litecoin

LTC

$2 979 285 566

$46,74

$2 680 823 327

-3.18%

TRON

TRX

$1 030 296 641

$0,015451

$1 102 449 618

-1.67%

BTC/USD 

Our yesterday's price prediction has proven to be accurate as Bitcoin even went below the mark of $7,300. 

BTC/USD chart by TradingView

This week, Bitcoin faced a slight correction, which is similar to the previously observed bearish trend in November. The cryptocurrency managed to rise by a total of 1.68%. 

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Analyzing the chart, the MACD suggests that the bearish trend is losing its position in the short-term. Regarding the nearest price projection, traders should attain the level of $8,000 soon. However, Bitcoin might face slight rollbacks on the way to the resistance zone

Bitcoin is trading at $7,340 at press time.

LTC/USD 

Although Litecoin has lost much less of its value compared to Bitcoin, its price has reduced by 3% over the previous day. 

LTC/USD chart by TradingView

On the 1D chart, Litecoin is located at its local bottom after bearish November. Currently, the situation resembles October when the ’digital silver’ traded sideways. If such a scenario happens again, LTC might locate in the range between $42 and $52 in December. 

Litecoin is trading at $46.48 at press time.

TRX/USD 

TRON followed our previous forecast and the coin touched $0.014 on some exchanges. At the moment, its price is down by 1.67%.

TRX/USD chart by TradingView

The cryptocurrency found strong support at $0.0131, which allowed it to bounce back. The closest resistance level is at $0.016 (100-day EMA). Above this mark, the coin's resistance is located at $0.22 (200-day EMA). However, the more likely scenario is the re-test of $0.014 as there is no interest from bulls to push the price higher.

TRX is trading at $0.01542 at press time.

 
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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and make predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others.

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$13 Mln in ETH Transferred to Poloniex from Wallet Inactive for Almost 2 Years

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  • Yuri Molchan
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    The Whale Alert account reports that nearly 89,000 ETH was wired to Poloniex from a wallet that had remained inactive since April 2018

$13 Mln in ETH Transferred to Poloniex from Wallet Inactive for Almost 2 Years
Cover image via u.today

On Friday, the Twitter account Whale Alert that tracks large movements of crypto on the blockchain, spotted nearly 89,000 ETH (that’s around $13 mln in Ethereum) sent to the Poloniex exchange.

The account points out that the wallet which sent the money had been inactive since April 1 last year. No one has used it for nearly two years, apparently, waiting for the crypto winter to be over and hoping for a price surge afterwards.

One of the possible reasons of this wallet becoming active again is the Ethereum hard fork Istanbul which is about to happen today, on December 7, at block 9069000.

Very often the price of an asset goes up after a major upgrade (the Istanbul hard fork will not cause an appearance of a separate coin as it was with Ethereum Classic).

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Earlier, U.Today reported that the South Korean exchange Upbit suffered from a hacker's attack and lost around $50 mln in Ethereum. Whale Alert on Twitter has recently published data about $37 mln stolen from Upbit that was moved by the hacker from one wallet to another.

The head of Binance, CZ, has promised that all funds stolen from Upbit that would end up on Binance would be immediately frozen.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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