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Crypto Market ReviewMon, 30/12/2024 – 0:01Cover image via www.freepik.comDisclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.AdvertisementBecause of the lack of movement in Bitcoin over the last few days, traders who are bullish or bearish have little to work with. The price of the cryptocurrency has mostly stayed unchanged, suggesting that there isn’t much trading volume or market conviction. Given the muted activity, it appears that neither side of the market has enough vigor to move the price significantly, leaving Bitcoin in a state of uncertainty.It is evident from an analysis of Bitcoin’s recent price movement that the cryptocurrency is having difficulty gaining traction. The lack of a significant breakout or retrace highlights the lack of interest from traders who might be reluctant to commit before the year ends. In the past, there has typically been less trading activity in all financial markets, including cryptocurrencies, in the last few days of December and the first few days of January.BTC/USDT Chart by TradingViewThis translates to fewer price fluctuations for Bitcoin and a holding pattern for traders. This stagnation is further compounded by the absence of volume, which is a key driver of price action. The likelihood of Bitcoin breaking important resistance levels or testing new support zones is low in the absence of substantial trading volume. This quiet period might last until outside forces possibly connected to changes in market sentiment or macroeconomic events in the coming year appear.As the market transitions out of the holiday season, traders should anticipate heightened activity. The present lack of volatility is unlikely to continue, but it is still unclear whether Bitcoin will move higher or lower in the future. Until then, the movements of Bitcoin will mostly be meaningless; significant price changes are only anticipated following a rebound in market activity.AdvertisementXRP stays putWith XRP continuing to hold above the crucial 26 EMA support level, the market is showing unexpected resilience. This level, which serves as a buffer against possible downside pressure, is crucial for the price performance of XRP. Although the asset’s recent movements indicate stability, it is about to enter a critical phase that needs careful monitoring. Right now, the 26 EMA support is crucial in keeping XRP from entering a bearish trend.Notwithstanding the general unpredictability in the cryptocurrency market, this stability shows that market players still
