Welcome to our latest crypto market outlook for December 4th!
Almost every altcoin is pumping, and we've been waiting three years for this. Are you invested enough? Here’s my list for the upcoming week: SOL, MANTA, TIA, RENDER, and QTUM.
Today, we will cover the following topics:
- USDT.D and BTC Analysis
- 5 Altcoins Analysis
- Quotes / Advices
- Closing Remarks
USDT.D and BTC analysis
As per our latest USDT.D update, it has been diving within the 3.75% - 4% support zone, making this a critical moment.
If the 3.75% level is broken downward, expect another significant bullish phase for crypto.
Conversely, if the support zone holds and is rejected, a bearish correction could be on the horizon.
Currently, USDT.D remains bearish, trading within the short-term falling channel marked in orange.
The bulls will only take over after breaking above the major high of 4.12%.
As speculated, BTC entered a flat range after nearly hitting the $100,000 milestone.
As long as BTC hovers within this range, alt season will persist.
Bitcoin (BTC) is currently trading within a descending channel.
For BTC dominance to return, a break above the $100,000 level is necessary.
Conversely, if the green structure is broken downward, expect a significant bearish correction for altcoins.
5 Altcoins Analysis
After breaking above the $200 mark, Solana (SOL) surged approximately 30%, encountering resistance near its all-time high.
Currently, SOL is undergoing a correction phase within the ascending channel marked in orange.
For the bulls to regain control and initiate the next bullish impulse, a break above the descending red channel is necessary.
In the meantime, SOL remains bearish in the short term and may retest the $200 support level, where we will be looking for trend-following long positions.
After being stuck in a significant accumulation phase lasting five months, MANTA finally broke its range upward.
As long as the $1 support level holds, MANTA is expected to remain bullish, entering a markup phase targeting the $2 and $3 round numbers.
Next is TIA. As noted in our latest altcoins article, TIA broke above its accumulation phase by surpassing the $7 mark.
As long as the bulls maintain their position, I expect a bullish continuation toward the first resistance at $11.5.
Analyzing RENDER, as per our coin of the week article, it broke above $6.80 and surged by over 30%.
As long as the bullish trend holds, a continuation toward the $10 round number is expected.
Medium-term, RENDER is trading within a rising channel marked in red.
As it approaches the lower bound of the channel around $7.50, we will look for trend-following long positions on lower timeframes, targeting the $10 round number.
Last but not least, as expected, QTUM broke above the $2.80 major high and surged by over 100% to reach the $5.50–$6 resistance zone.
For the bulls to maintain control in the long term, a break above the $6 resistance level is necessary.
Meanwhile, as QTUM retests the $4.30 level, which is the intersection of the red trendline and the blue demand zone, we will look for trend-following long positions.
Quotes / Advices
Do not anticipate and move without market confirmation.
~ Jesse Livermore
Closing Remarks
In summary, USDT.D is trading within a short-term falling channel. A break below 3.75% could trigger a significant bullish phase for crypto, while a rejection of this zone might signal a bearish correction.
BTC remains range-bound after approaching the $100,000 milestone. While this flat range supports alt season, a break above $100,000 is crucial for BTC dominance.
Despite a 30% surge after breaking $200, SOL is in a correction phase within an ascending channel. A retest of $200 may offer trend-following opportunities.
After a five-month accumulation, MANTA broke upward. The $1 support level is critical for its bullish momentum, targeting $2–$3.
TIA surpassed $7 and is poised for further growth, targeting resistance at $11.5.
RENDER surged 30% after breaking $6.80. Trading within a rising channel, the next target is $10, with opportunities at the $7.50 support.
QTUM soared over 100%, reaching $5.50–$6 resistance. A break above $6 is key for long-term bullish control, with potential entries at $4.30.
