The cryptocurrency market is heading into the final stretch of December with a lack of clear direction. While Bitcoin consolidates, altcoins remain volatile. This 20-21 December weekend could bring surprises for alert traders. Three tokens stand out with technical setups warranting attention.
The launch of Night has literally set the charts on fire this week. With a 61% surge since its introduction on exchanges, this token has emerged as the top performer in the altcoin market. This explosive momentum can be explained by several converging factors fueling speculation.
The connection with Charles Hoskinson and the Cardano ecosystem via the Midnight blockchain represents the primary catalyst behind this enthusiasm. Investors are betting on the project’s technological solidity and the expertise of a recognized team. Market capitalization has crossed the billion-dollar mark, positioning the token as a credible player despite its youth.
Currently trading around $0.064, the levels to watch are clear. A break above $0.065 would open the path toward $0.075, then potentially toward the all-time high at $0.088. Momentum remains strongly positive, supported by substantial volumes confirming institutional interest.
However, there is a flip side. Freshly listed tokens present a risk of brutal correction due to profit-taking. A drop below $0.045 would erase recent gains and invalidate the bullish structure. Caution therefore remains advisable.
In stark contrast to NIGHT, PUMP.fun is going through a difficult week with a 35% drop. The token is trading around $0.00197, under persistent selling pressure, reflecting deteriorating sentiment in this segment.
Technical analysis reveals an interesting signal, however. The RSI has entered oversold territory, a classic indicator of seller exhaustion that often precedes technical bounces. This configuration attracts opportunistic buyers.
If the current support holds, a rally toward $0.00212, then $0.00242, becomes conceivable. These resistance zones concentrate liquidity and could slow the upward movement. The bullish scenario requires a swift return of buying volume.
Downside risk remains elevated. A break below current levels would expose PUMP to $0.00171, a critical support. In that case, the prospect of recovery would be canceled.
Bitcoin Cash (BCH) posted an 8% gain following a market rumor involving Erik Voorhees. A supposed exchange of 4,619 ETH for 24,950 BCH from a wallet dormant for nine years triggered speculative interest. Despite a denial, the technical movement has been initiated.
The Chaikin Money Flow confirms sustained capital inflows, validating ongoing accumulation. This metric suggests buying pressure likely to extend in the short term.
Immediate targets sit at $593, then $624 if momentum is maintained. These key resistance levels constitute favorable zones for profit-taking. A clean break through $593 would alter the market structure.
The invalidation scenario is clear: A rejection below $593 would keep BCH under $600 and could bring prices back toward $555, a major support zone and likely consolidation phase.
The Christmas offer you can’t miss: In just a few clicks, receive between $5 and $25 in free bonuses through our partner Zoomex. Take advantage of it during the holidays 🎄
Related content:
Passionate about cryptocurrencies since 2019, I cover the latest news through clear and accessible articles. My goal is to make crypto understandable for everyone, with reliable and well-researched content.
DISCLAIMER
This article is for informational purposes only and should not be considered as investment advice. Trading cryptocurrencies involves risks, and it is important not to invest more than you can afford to lose.
InvestX is not responsible for the quality of the products or services presented on this page and cannot be held liable, directly or indirectly, for any damage or loss caused by the use of any product or service featured in this article. Investments in crypto assets are inherently risky; readers should conduct their own research before taking any action and invest only within their financial means. This article does not constitute investment advice.
Risk Warning : Trading financial instruments and/or cryptocurrencies carries a high level of risk, including the possibility of losing all or part of your investment. It may not be suitable for all investors. Cryptocurrency prices are highly volatile and can be influenced by external factors such as financial, regulatory, or political events. Margin trading increases financial risks.
CFDs (Contracts for Difference) are complex instruments with a high risk of rapid capital loss due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should assess whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Before engaging in financial or cryptocurrency trading, you must be fully informed about the associated risks and fees, carefully evaluate your investment objectives, level of experience, and risk tolerance, and seek professional advice if needed. InvestX.fr and the InvestX application may provide general market commentary, which does not constitute investment advice and should not be interpreted as such. Please consult an independent financial advisor for any investment-related questions. InvestX.fr disclaims any liability for errors, misinvestments, inaccuracies, or omissions and does not guarantee the accuracy or completeness of the information, texts, graphics, links, or other materials provided.
Some of the partners featured on this site may not be regulated in your country. It is your responsibility to verify the compliance of these services with local regulations before using them.
