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Crypto Technical Analysis Report | 29th November 2024
- On Friday, Bitcoin’s price increased by 0.69 percent, bringing the world’s most widely used crypto asset to $68,600.
- Ether, the second most valuable crypto asset, saw a 1.58 percent loss, trading at $3,951 (roughly Rs. 3.2 lakh).
- Most crypto assets experienced declines on Friday, including Binance Coin, Solana, Ripple, Cardano, Shiba Inu, Avalanche, and Polkadot.
- Bitcoin reclaimed the $95,000 mark, after briefly dipping below $91,000 on November 26.
- Ethereum’s native token, Ether, surged by 5.75% over the past 24 hours, reaching approximately $3,640 on November 28.
- Bitcoin was trading in a ‘Descending Channel’ forming a ‘Bullish Flag’ pattern.
- ETH, after breaking the long held resistance of $2,850, surged up to $3,442.
- Japanese investment firm Metaplanet hopes to raise over $62 million (9.5 billion Japanese Yen) through a stock acquisition plan to purchase more Bitcoin for its treasury.
- Hong Kong has proposed exempting crypto gains from taxes for hedge funds, private equity, and family investment vehicles to strengthen its position as a leading crypto financial hub.
- Ethereum layer-2 (L2) networks have reached a new all-time high of more than $51.5 billion in cumulative total value locked (TVL).
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