Avalanche (AVAX) price has been on a non-stop uptrend and has produced only one weekly red candlestick since October 16. As a result, the altcoin has more than quintupled in less roughly ten weeks. Regardless, AVAX price still has more steam left in the tank as opposed to Solana (SOL), which has registered 296% gains in the same period.

AVAX price has a higher chance of continuing the bull rally due to two critical reasons overcoming a key weekly hurdle at $78.69 and the Relative Strength Indexs (RSI) position.Despite rallying a mind-melting 411% in just 70 days, the RSI hovers around 82, just below the overbought level of 90. In bull markets, it is common practice to adjust the overbought and oversold conditions from 70 to 90 and 30 to 40, respectively. The mean level of RSI becomes a zone, extending from 50 to 60.

Ethereum's (ETH) recent price action has mirrored the moves of Bitcoin (BTC), with a three-month correlation of 0.97. As the second-biggest crypto asset by market capitalization is closely following the fortunes of BTC, data from crypto intelligence tracker Santiment shows that ETH supply on exchanges has fallen to an all-time low, which could be a sign of further price gains.

Ethereum supply on exchanges as a percentage of the assets total supply is at 8.06%, the lowest level since ETH was created, according to Santiment data. At the beginning of 2023, supply was at around 11%.

Bitcoin price climbed back above $44,200 on Thursday, the highest level in ten days.. The latest spike in BTC price is supported by optimism surrounding the approval of a Bitcoin Spot ETF in the US.

Bitcoin price rally has led to an increase in Bitcoin whale wallets, or these addresses that hold 1,000 or more in Bitcoin, after a two-week decline. Analysts at crypto intelligence tracker Santiment said that Bitcoin price is likely to hit the $45,000 level.

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Cryptocurrencies Price Prediction: Avalanche, Ethereum & Bitcoin European Wrap 21 December - FXStreet

A crypto analyst who accurately called the bottom of the 2018 Bitcoin (BTC) bear market is flipping bullish on an altcoin running on the Ethereum (ETH) network.

Pseudonymous analyst Bluntz tells his 232,400 followers on the social media platform X that Chainlink (LINK) is flashing multiple bullish reversal signals on the eight-hour chart.

The analyst predicts that LINK could rally to a level last seen in January 2022.

Ok LINK swept $13.9 one final time and made the fifth wave down for C and beautiful high time frame bullish divergence as well.

I believe this is a major wave four low now in.

$20 en route, RIP anyone who capitulated.

Bluntz utilizes the Elliott Wave theory, a technical analysis method that attempts to predict future price action by following crowd psychology that tends to manifest in waves. According to the theory, a bullish asset goes through a five-wave rally with each wave having its own sub-waves.

At time of writing, LINK is trading for $14.57, suggesting an over 37% surge if it hits Bluntzs target.

Looking at the smart contract platform Solana (SOL), Bluntz thinks that the altcoin is gearing up to break out against Bitcoin (SOL/BTC), indicating that its US dollar pair will likely see steep rallies.

SOL/BTC trying to break this most recent bull flag after chilling for a few days.

When this 37-day range breaks, SOL is going to gigasend. It will probably be the steepest leg yet.

Dont listen to the bear posters fam, they hate money.

At time of writing, SOL/BTC is trading for 0.0017526 BTC ($75), very close to the traders resistance area at 0.0018 BTC ($77.06).

Generated Image: Midjourney

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Top Crypto Analyst Predicts Nearly 40% Rally for Ethereum-Based Altcoin, Updates Outlook on Solana - The Daily Hodl

You get an airdrop! You get an airdrop!

Amid hopes and prayers for the crypto bull markets imminent return, the onslaught of free money airdrops for crypto users continues. The latest comes courtesy of Frame, an Ethereum scaling network designed for NFTs.

The project announced Tuesday that it will soon launch a native FRAME token, and that any crypto user who has transacted an NFT on Ethereum in the last two years is now eligible to collect varying amounts of FRAME. Criteria used to determine a users airdrop size is determined based on the number of NFT trades made, the financial volume of those trades, and the amount of creator royalties paid during those transactions.

While NFT traders can already claim FRAME via an online portal, those tokens wont functionally exist until January 31, when they will go live alongside the Frame mainnet.

FRAME tokens will initially be used exclusively for governance of the Frame ecosystem, the project announced, and to control the Frame Creator Fund. At a later, as-yet-unannounced date, the tokens will be unlocked for transfer and presumably become tradable on secondary markets for monetary value.

Users already began claiming their free FRAME Tuesday. Some reported receiving thousands of tokens, based on their NFT trading activity.

Todays airdrop is only the first of many FRAME giveaways, the project said. Once the project fully launches at the end of next month, it will begin distributing more tokens to users and community members to encourage activity.

Frame seeks to create an ecosystem for the buying, selling, and creation of NFTs that unambiguously puts creators first. The layer-2 rollup is based on Arbitrum Nova, an Ethereum scaling network.

Since last year, the practice of enforcing creator royaltiesfees generally between 2.5% and 10% levied on NFT buyers, meant to support artists and enshrine blockchains democratized ethoshas been steadily dismantled under the weight of brutal market forces.

Frame enforces creator fees at the network level; it says it also prioritizes NFT security more than other blockchains, and will eventually be run by community members.

In tandem with its airdrop announcement, Frame also announced that it has secured an initial fundraise led by Electric Capital, with participation from several crypto industry founders and influencers, including Pudgy Penguins CEO Luca Netz. A Frame advisor told Decrypt that the project isnt yet disclosing the funding amount or total amount of FRAME tokens.

Edited by Andrew Hayward

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Did You Trade Ethereum NFTs in the Last Two Years? You Can Claim This Airdrop - Decrypt

Market picture

The crypto market has started the new week with a correction sentiment, reducing capitalisation by 3% to $1.54 trillion in the last 24 hours. As is often the case with intense moves, Bitcoin looks more stable than the market, losing only 1.8% to $41.1K. Ethereum is down 2.3% to $2160.

Bitcoin is once again testing the local support it managed to hold last week. But we are attracted by a sequence of lower local highs, indicating an impressive selling proposition. We may be seeing profit taking from all the upside from the October lows. Working off this scenario suggests a pullback to the $38K area if the market falls below $40K. But even this potentially nasty drawdown looks to be just part of a larger bull cycle that Bitcoin is now moving within.

Ethereum is developing a retreat from the upper boundary of the trading channel, currently testing the early April peak area. The scenario of a shallow correction suggests a decline of about $100 more to $2060, but we should be ready for $1700 as well.

Morgan Creek Digital founder Anthony Pompliano believes that BTC continues to follow four-year market cycles fitting between halvings, and the next growth phase of the first cryptocurrency is now beginning.

The bitcoin-based NFT market will grow 100-fold in 2024, researchers at cryptocurrency exchange Bitget predict. The ORDI token, being the leading token of the Bitcoin ecosystem, is already capable of entering the top 30 in terms of market capitalisation during the next bull market. If the BTC ecosystem continues to expand, Bitcoin could reach $100K thanks to a surge in demand for the first cryptocurrency.

The US SEC is reviewing its approach to spot bitcoin ETFs following court decisions, the regulators head, Gary Gensler, commented. The agency is currently reviewing between eight and 12 such proposals, he said.

The SEC rejected a petition by exchange Coinbase to develop rules for the cryptocurrency industry. According to Gary Gensler, existing laws apply to the industry, and there is nothing that would indicate the need for new regulations.

Asset management companies Galaxy Digital and DWS Group, as well as Dutch market maker Flow Traders, are creating a subsidiary firm, AllUnity, which will issue a euro-denominated stablecoin.

One more Solana-based meme token, also featuring a dog, Bonk (BONK), rose 100% overnight after listing on Coinbase. Its capitalisation has already passed the $1.7 billion mark.

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Bitcoin and Ethereum set to deepen correction - FXStreet

A popular crypto analyst is predicting market corrections forSolana (SOL) and another one of Ethereums (ETH) biggest competitors.

Pseudonymous trader Altcoin Sherpa tells his 201,800 followers on the social media platform X that Solana is setting up to dip below $50, more than 31% below its current value.

Although the trader says that a correction is in sight for Solana, he thinks that SOL will eventually recover and regain its bullish momentum.

SOL: for traders, I think sub $50 is coming for Solana in the mid-term.

For investors, SOL is going to go to much higher levels in the coming months, so probably just dont worry about it. Im going to just hold my SOL and chill.

Using Fibonacci retracement levels, the trader suggests Solana may retest $48.71 before a bounce.

Solana is trading for $73.37 at time of writing, up 2.6% in the last 24 hours.

Next up, the trader predicts that ETH rival Avalanche (AVAX) will undergo a correction and revisit levels below $30 following its recent massive rally.

AVAX: things are looking kind of toppy in the short term. Still bullish on this in the longer term for 2024 but wouldnt be surprised if this cools to sub $30.

Looking at the traders chart, he appears to suggest that AVAX is about to lose key support around the $39 level.

AVAX is trading for $39.88 at time of writing, up 1.3% in the last 24 hours.

Lastly, the trader believes that Dogecoin (DOGE) rival Bonk (BONK) is entering a distribution phase or a period where early investors take the time to unload their holdings to sell their coins at a relatively high price.

BONK: not shorting this quite yet, wouldnt dismiss having some sort of scam pump on this one. Thatll be the one to consider shorting, to be honest. I think that this is in its distribution phase for now though. Expecting the other memes like MYRO to die soon (for a while).

Bonk is trading for $0.00001918 at time of writing, down 0.8% in the last 24 hours.

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Trader Predicts Corrections for Solana and Additional Ethereum Rival, Updates Outlook on One Dogecoin Competitor - The Daily Hodl