CandleFocus Crypto Market Overbought? Analysts Predict Pullback Before 2024 Rally
2024-11-30
Author: Content Editor
Crypto analysts are predicting a potential pullback for the market in December after an overheated funding rate was highlighted in an analysis of November's top 100 digital assets. Stellar (XLM) led the market with a 478% gain over the last 30 days, followed by Virtual Protocol (VIRTUAL), XRP, and Algorand (ALGO). Donald Trump's U.S. presidential victory fueled the November rally, with Bitcoin surging 48% since November 5 and hitting a new all-time high of $99,800. However, technical indicators suggest the market is overbought and a pullback is imminent, although Trump's pro-crypto campaign promises and recent appointments are driving optimism. The market's long-term trajectory will depend on the actions of the incoming administration, but many technical analysts expect a pullback before the end of the year.
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