XRP Forms First Major Bearish Signal, Coinbase Announces Major Listings With Four New Crypto Assets, Samson Mow Names Key Driver for BTC Omega Candle: Crypto News Digest by U.Today
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U.Today has prepared a summary of the top three news stories over the weekend.
XRP forms first major bearish signal
As XRP demonstrates its first significant bearish signal since the recent surge, it appears that the token's rally may be coming to a conclusion. A lower high can be seen on the XRP chart, which suggests that the current uptrend may be losing momentum, potentially leading to a further price retracement in the near future. The lower high signal is particularly concerning for XRP bulls, as it often marks the beginning of a downtrend. There is a real possibility that selling pressure could rise, especially since XRP has not managed to surpass its recent peak. This concern is heightened by the fact that trading volume has been decreasing in the last few sessions. Key price levels to monitor include $2.30, which serves as a close support level, followed by $1.275 and $1.13, with the latter representing a significant psychological and technical support area. To negate the bearish trend and reignite bullish momentum, XRP must recover the $2.80 level; for this, the asset will need a major increase in trading volume, reflecting renewed buyer confidence.
Gamza KhanzadaevCoinbase announces major listings with four new crypto assets
According to a recent X post by Coinbase International Exchange, it has achieved a significant milestone by listing its 100th perpetual futures contract. This underscores the exchange's dedication to offering diverse trading options and expanding its global footprint. Additionally, Coinbase plans to introduce support for four new perpetual futures: Moo Deng (MOODENG), Algorand (ALGO), The Sandbox (SAND) and Mog Coin (1000MOG). These new listings will be available on both Coinbase International Exchange and Coinbase Advancedstarting Dec. 12. Moo Deng, a Solana-based meme coin, and Algorand, known for its energy-efficient blockchain, have recently seen positive price movements, while The Sandbox allows users to monetize virtual experiences through NFTs. Mog Coin, an Ethereum-based meme coin, has experienced a notable surge, reaching new all-time highs in recent trading sessions.
Key driver for Bitcoin (BTC) Omega candle named by Samson Mow
Prominent Bitcoin advocate and CEO of JAN3 Samson Mow has recently taken to X platform to share his Bitcoin price prediction. In his post, Mow pointed to a potential catalyst for the first "Omega candle," a substantial single-day bullish price movement that could propel Bitcoin's value toward $1 million. In the CEO's opinion, this Omega candle may be triggered by a gamma squeeze on MicroStrategy’s stock, which is closely linked to the company's ongoing Bitcoin acquisition strategy. A gamma squeeze occurs when a large number of call options are purchased, compelling market makers to buy the underlying stock to manage their risk, thus driving its price upward. Meanwhile, MicroStrategy continues to actively expand its Bitcoin holdings, further setting the stage for this anticipated market movement.
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