The recent surge in the crypto market comes with a mixed feelings for me.
It is fascinating to know that some recent positive news has caused the growth of the market. BTC the one I call the father of all crypto has ascended to $30,000. Though, at the time of this writing it is currently around $29k. The last time it hit and went above $30k was in July of this year, 2023. The bull run is expected to begin and one has to be aware that there can be possibility of some inevitable dumps along the way. Consequently, one has to make proper research and near accurate analysis before entering the market.
Ethereum: the one I call the Queen or second King of the the crypto market also did some moves along the line. Ethereum price has started to form an ascending channel after break of the downward trendline on 1H timeframe. This is now forming a strong upward trend and the resistance is expected to be around $1,680. The last time it touched this price was November 16th and it quickly returned back, possibly moved by news.
XRP surprisingly surged by 11% in just few hours between 20Hrs GMT and 23Hrs GMT. I wasn't really expecting that in a short time frame but that is the market for you.
At this present moment, as we approach end of 2023 I expect more bullish movement. However, research has to be made with a back up analysis before I can partake in the market.