We are now in the last month of the year and altcoins have not had a bull season as expected. While some altcoins have made extremely impressive gains, most cryptocurrencies have performed abysmally. Ethereum 
$2,804.64 reached a new record, but that ended almost within hours. So will we see a real rise now?
Altcoin Bull and Ethereum
cryptocurrencies In the past, it experienced upward trends within the 4-year cycle story, depending on several factors. However, at the point we have reached today, the immersion of corporate capital into crypto has also damaged its character. From now on, we will probably see more short-term and volatile markets. So maybe there will be a crypto market where we can experience 2 seasons in a year.
It is clear that we are experiencing both crypto summer and winter this year. Trump’s tariffs gave rise to such a unique FUD that even though the headlines of “global trade wars” were seen as exaggerated if they started, we could not be surprised when we saw worse ones in the future. We have been through a lot in the last year and the next year will be like this too. I think now of Ethereum There will not be an altcoin bull that starts a unique rally and pulls the rest of the altcoins up without exception.
Instead, we will see bullish periods similar to short seasonal transitions, where risk appetite shifts to altcoins and some altcoins diverge positively and make big gains, then give way to different altcoin groups. The most likely scenario looks like this as of today.
However, all this does not mean that oversold altcoins cannot normalize and at least gain higher support levels, led by ETH. Even this means a gain of more than 50% for altcoins in general. DaanCrypto said the following about Ether:
“ETH It is still in an important area. However, ETH seems to have made up its mind in the short term with this higher bottom and strong bounce. It is important for bulls to protect the green zone. “If this bounce continues, I will watch the upside towards around $3,300.”
Bitcoin (BTC)
Time will tell what happens on the Ether front. However BTC It cannot overcome the support level at 93 thousand dollars. We saw a good trial today, and even the price approaching 94 thousand dollars made us say, “Okay, now is the time.” However, with a surprising negative development, the rise was cut short by allegations about Microsoft.
Sharing the chart above, Levis discussed the current situation.
“It still has not lost its support domestically. In the short term, it may make upward attempts above 92800 (targeted at 94.250). Its major support is around 88600.
If open interest decreases when the price touches a macro zone such as 93,500, this is usually a signal for position unwinding. This may include both voluntary closure (profit taking) and compulsory closure (liquidation after short squeeze). “As long as there is no deterioration in the mini bullish trend, upward continuity can be observed.”
