The crypto market has shown retracement in the last 24 hours, with a 3.19% decline today, December 18. This decline is also evident in the price of Bitcoin, which dropped to $40,809 at 6:07 a.m. EST, representing a 2.3% decrease in 24 hours.
While there is no definite reason for the drop, hackers’ backing of Ledger software on December 15 could be a contributing factor. Despite the decline in prices, some altcoins still record impressive gains in the past 24 hours.
These altcoins benefit from a vibrant community and active developers with exciting projects. More facts about these tokens and their ecosystem are captured below.
Astar (ASTR) – The Leading Blockchain Technology In Japan
ASTR’s price at 6:47 a.m. EST is $0.123, with a 52.5% increase in the last 24 hours. Also, on the weekly chart, ASTR has gained 64.5% as buyers continue to accumulate the tokens.
Recently, Astar Network announced a campaign for the mainnet release of the Astar zkEVM driven by the Polygon CDK.
🌟 We’re announcing a campaign for the mainnet release of Astar zkEVM powered by Polygon CDK. This presents a unique opportunity for like-minded projects and companies.
▶️ Fill out this form if you want to see your project in the campaign: https://t.co/fujsnf8mJe
— Astar Network (@AstarNetwork) December 12, 2023
According to the post on X, this campaign is to celebrate the release of Astar zkEVM mainnet in Q1, 2024. Users will be able to explore old and new products on-chain and off-chain.
Also, community members will gain access to special artwork from the Astar Foundation and participating projects.
Astar Network continues to grow in relevance in the Japanese market and will likely expand in adoption worldwide in the coming months. On the daily chart, the bullish pattern formed confirms that the price of ASTR will likely increase in the coming weeks.
ASTR Shows Strong Bullish Pressure, Will It Break Above $0.12?
ASTR has recovered from its recent price slump after it encountered stiff resistance at $0.088. However, the buyers are back in control as ASTR forms a Maribozu candle on the daily chart.
This bullish engulfing pattern hints at a further price increase for ASTR.
Also, the long upper wick on today’s candle suggests massive buying activity for the asset. Remarkably, ASTR is trading close to the upper band of the Donchian Channel (DC), which is a strong buy signal for the token.
Also, the Relative Strength Index (RSI) indicator is in the overbought region and rising.
The RSI displays a value of 80.61, confirming that the buyers are still active. Therefore, ASTR will likely break above the $0.12 price level in the coming days if the bulls persist.
However, traders must watch out for the close of today’s candle for confirmation and a possible retracement for the RSI indicator.
Stacks (STX) – The Bitcoin Layer for Smart Contracts
STX has recorded a 5.3% increase in 24 hours to trade at $1.10. Additionally, it has gained 20.2% in the last seven days, retaining its gains in the past weeks. Stacks benefits from the improvement in the price of BTC in recent weeks since it is a Bitcoin-dependent layer.
According to Stacks developers, the Bitcoin chain records congestion and high fees. Therefore, contributors have offered help to boost its efficiency for network users.
It’s clear that building on Bitcoin is growing and while it might be a little painful at the moment, this is one more reason to be excited about Nakamoto!
Notably, this week another milestone was hit on the way to this major (& clearly necessary) upgrade: https://t.co/B4mNEyF1db
— Stacks Status (@stacksstatus) December 17, 2023
On the daily chart, STX has moved into an uptrend as the buyers continue to pile pressure on the asset.
STX is approaching $1.10. Will it rally to the 50% Fib Level?
STX has shown price volatility in the last few days. After the dip between 9-11 December, it rallied from December 12-14. However, a rejection occurred at the 38.2% Fibonacci level ($1.07), forcing a decline on December 15 below the 23.6% Fib level ($0.97).
Notwithstanding the decline, the buyers rallied between December 16 and 18 to form higher highs on the price chart. So, STX found support at $1.04 today as it attempts to break above the $1.10 resistance level.
A break above this level will move the asset to the 50% Fib level ($1.15). However, today’s candle suggests that the STX sellers are still active and trying to limit STX’s price gains. Nevertheless, the buyers show determination to force a breakthrough.
Also, the RSI indicator of 63.33 is rising, which confirms that the buyers still have the upper hand. Therefore, if the buyers prevail, STX will likely continue its rally to overcome the $1.10 resistance level in the coming days.
Bitget Token (BGB) – The Utility Token Of Bitget Exchange
BGB’s price at 6:52 a.m. EST is $0.602, with a 4.6% increase recorded on its price. Also, it has gained 20.4% on the weekly charts, confirming that the buyers are still active and determined to sustain the rally.
Bitget has continued to break new grounds based on its incentives to attract more users to the exchange. The latest release is the zero fees when using a Visa or MasterCard to purchase crypto on the exchange.
0 Fee & Get Extra Crypto Bonus with Visa / MasterCard
— Bitget (@bitgetglobal) December 18, 2023
Also, a bonus of at least 1% worth of cryptocurrencies will be added to users who purchase crypto using Visa or MasterCard. This is likely to attract more users to the exchange and boost the value of BGB tokens.
On the daily chart, BGB continues to rally as the buyers sustain its gains over the past week.
BGB Testing $0.602 Resistance: Will The Buyers Prevail
BGB is in an uptrend, flipping the $0.573 resistance to support. BGB overcame the bearish pressure on December 13 to enter an uptrend in the last five days. The green candles formed suggest that the buyers are in control of BGB’s price.
Also, the RSI indicator, with a value of 73.61 and still rising, supports today’s bullish momentum.
Additionally, the Moving Average Convergence/Divergence (MACD) is above its signal line, which is a strong buy signal for BGB. Also, the green Histogram bars in the past three days confirm that BGB traders are in an accumulation phase.
As such, BGB will likely break above the $0.602 resistance level if the buyers continue to dominate the market.
Bitcoin ETF Token – The New Project Harnessing the Speculative Nature of the Pending Bitcoin ETF Approval
The Bitcoin ETF Token’s presale is in its final phase, offering a few days to grab it at the lowest price of $0.0068. Traders have already put $4.1 million into the $BTCETF initial coin offering, and there’s just under $800,000 left to meet the total goal of $4,956,000.
There’s a buzz about potential returns skyrocketing, possibly reaching 100 times the investment, as people anticipate how a spot Bitcoin ETF could change the crypto investment scene.
The Bitcoin ETF Token is seen as a strategic move to position investment portfolios for the expected approval, possibly happening in January.
This Ethereum-based coin is designed with specific triggers linked to ETF approval, launch, and other milestones like trading volumes and asset management. This means that at each significant stage, those holding the $BTCETF token will directly profit.
Bitcoin ETF Token Is “Matchless” – 10x Burst At Launch and 100x Boost Incoming
The Bitcoin ETF Token presale is picking up speed, so acting fast could mean snagging a chance for a potential tenfold return. Well-known experts are highlighting this unique opportunity to their followers.
As excitement over the Bitcoin ETF approval grows, YouTube crypto analysts ramp up discussions.
For instance, Austin Hilton, with a sizable subscriber base, hails the Bitcoin ETF Token as groundbreaking, praising its milestone burn mechanism. Another expert, Jacob Crypto Bury, foresees significant gains, projecting a tenfold increase when it hits decentralized exchanges.
Conor Kenny, reaching a large audience, emphasizes the innovative rewards linked to Bitcoin ETF approval and related milestones. He sees it as one of the top ways to engage in this crypto investment trend.
Amidst an upsurge in altcoin interest, potential gains could even soar to a hundredfold for those riding the wave of increasing capital.
If you’re interested, the Bitcoin ETF Token website and their social media channels offer updates on project developments, providing a heads-up on market-moving news about spot Bitcoin ETFs.
Investing in the presale involves connecting your crypto wallet or using traditional payment methods like bank cards.
While a tenfold return is foreseeable for a coin already associated with the ‘Bitcoin ETF’ theme, holding onto it long-term might yield even greater returns.
Similar to how gold influenced ETFs after its initial index fund launch in 2003, Bitcoin could have a similar impact on financial markets.
The global ETF market is expected to hit $14 trillion by 2024, with cryptocurrencies becoming a significant part. Buying into the Bitcoin ETF Token might just be the cleverest way to tap into future investment returns.
Despite the decline in the overall value of the crypto market, optimism remains high. The bitcoin ETF approval is expected on January 10, 2024, and is likely the catalyst to kick-start the bull run.
While investor sentiments remain generally positive, the dip is part of the crypto market cycle.
Also, it serves as a reminder of the volatile nature of cryptocurrencies and the need for proper risk management. Conversely, some investors take advantage of market corrections to “buy the dip” and sell at a higher price once there is a recovery.
Therefore, 2024 will likely be another memorable year for crypto traders if Bitcoin rallies and the bull run occurs.