Wednesday Market Watch: Market Rally Incoming?

Last edited: Dec 16, 2021

The crypto market is showing signs of life again this week starting late Monday. Today, most coins are up, ranging from 1% to 7%. We will take a look at a couple of coins that are surging today, as well as one particular coin that is down over the last 24 hours.

ETH: $4021.82 (+4.21% over the last 24 hours)

ETH is up more than 4% today, however it is still slightly down since the beginning of Monday, due to the large decline on Monday. Over the past 6 hours, ETH is up more than 10%, and is trying to stabilize itself on the $4,000 price level before trying to climb even higher.

ETH price chart over the last 24 hours (15-minute intervals)

LINK: $19.585 (+6.19% over the last 24 hours)

LINK is up the most out of all coins trading on the BTCC platform at the moment, more than 6% over the past 24 hours and more than 15% over the last 6 hours. This is primarily because LINK just hit its absolute lowest price point, $17.267, since July 31, making the rebound inevitable. Given LINK’s uniqueness in the landscape of various blockchain networks, investors probably anticipated LINK to be undervalued and thus entered the market after it hit its lowest point in the last 5 months.

LINK price chart over the last 24 hours (15-minute intervals)

DOGE: $0.17997 (-5.76% over the last 24 hours)

After the rally yesterday, DOGE slid more than 5.5% today, including a near 20% decline from the high point yesterday of $0.22. This is mostly due to the fact that the surge in prices yesterday was caused by Elon Musk’s announcement of Tesla accepting Dogecoin as a payment method for merchandise, and with the hype slowing down after the announcement, the price plunged.

DOGE price chart over the last 24 hours (15-minute intervals)

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