Impressive rallies continue and the Bitcoin price closing above $38,500 gives hope to altcoin investors. There is no major development that could negatively affect the markets next week. Inflation is decreasing and PCE data is positive. However, we may see profit-taking on Friday due to the release of current employment and hourly wages data. So, what are the expectations until Friday?
This month, DOGE will go to the Moon and we will see how the price will react to it. Approvals have been obtained for the space mission and the Bitcoin price is positive. Moreover, since there will not be any major developments until Friday, we may see a quick recovery in altcoins for a few days. On the other hand, it is observed that institutional interest continues as CME open positions increase.
The $0.08 level is important for the meme coin king and the price is holding this range. Investors who are not in a hurry to sell are focused on the $0.1 target again. If we see a general recovery in altcoins and cumulative volumes exceed $75 billion, the price can quickly reach $0.1 after breaking the $0.09 barrier.
The 20-day EMA is an important support to watch in the downward direction, and closes below this level can bring a drop to $0.07.
TON Coin Analysis
Telegram support and recent steps have brought TON Coin to the top ranks among popular cryptocurrencies. It has seen a quite impressive recovery. The price, which has been hovering above the 20-day EMA ($2.38), has temporarily lost momentum. RSI is just above the neutral zone, and buyers will try to push the price above $2.59 to surpass the target of the triangle formation, which is $3.58.
If the uptrend support is lost, the price can pull back to the main support at $1.89. If investors look for buying opportunities at this level in the event of a rapid BTC decline, the support will be further strengthened.
LINK Coin Price Analysis
December and even the year 2024 could be the era of Chainlink (LINK) investors. The Chainlink team, which is starting to reap the rewards of years of hard work, can revive demand by announcing new partnerships. As long as the interest in the RWA field remains strong, the possibility of a rally for LINK Coin remains on the table.
The price is stuck between the 20-day EMA ($14.19) and the resistance at $15.40. If it sees an upward breakout, it can target $16.6 and $18.3. In the opposite scenario, a drop to $12.83 is likely.
- Bitcoin price above $38,500 gives hope to altcoin investors.
- DOGE will go to the Moon this month, and altcoins may see a quick recovery.
- TON Coin and LINK Coin show potential for rallies in their respective markets.