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Crypto Outlook


-BTC: $37,280.60

-ETH: $2,070.57

-XRP: $0.6661

-LTC: $75.90

As of now, the global value of all cryptocurrencies combined is around $1.42 trillion. In the past day, it has decreased by about 1.55%. The total trading activity in the crypto market over the last 24 hours is about $47.04 billion, showing a significant increase of 61.30%.

Within the decentralized finance (DeFi) sector, the trading volume is currently $5.05 billion, making up about 10.74% of the total crypto market activity in the last 24 hours. Additionally, the volume of stable coins, which are digital currencies pegged to a stable asset like the US dollar, is now at $43.25 billion, constituting a substantial 91.94% of the total crypto market trading volume in the past 24 hours.

BTC: BTC price decreased by 1.29% and increased by 0.05% over 24 hours and the past seven days. The asset reached a low and high of $37,162.75 and $37,820.30, respectively.

Recently, Bitcoin mining hit a milestone with a 5.07% spike in difficulty, reaching an unprecedented 67.96 terahashes at block height 818496. This surge showcases the escalating computational power dedicated to mining, pushing the network’s average hash rate to 504.80 exhausts per second.

This rise in mining difficulty not only demonstrates Bitcoin’s robust network but also signals the escalating competition and technological progress among miners. Throughout 2023, the continual surge in mining difficulty emphasizes Bitcoin’s resilience and growing global interest. Each difficulty adjustment strengthens the network’s security and efficiency, which is vital for its steady growth and widespread use.

BTC Technical Analysis:

BTC has maintained its bullish pressure and is forming higher highs and lows. The most recent resistance is very strong, as the price touched it twice but was not able to break above it.

The price is above the 50EMA, showing the market is bullish. On the Daily TF, we could see the RSI is at 58.11signalling the market is slightly inclined towards overbought condition. We could also see an RSI Bullish Divergence, which indicates the bull phase may continue.

We need to move into the lower time frame for a clear indication of a signal. The market looks bullish, and traders may wait until the previous swing high($37994.13) is breached.

Based on our analysis, Bitcoin may go up to $39133.49 in the coming weeks. Moreover, if that level is breached, the price may stand at near $46000.00 level.

  Support  Resistance

ETH: ETH price decreased by 1.51% and increased by 2.23% over 24 hours and the past seven days. The asset reached a low and high of $2,038.60 and $2,094.10, respectively.

Former Ethereum advisor Steven Nerayoff, entangled in legal matters, reveals plans for an AI-Web3 initiative merging blockchain and artificial intelligence. He highlights Ethereum’s shortcomings and aims for a “Crypto 2.0 reboot” to restore decentralized applications and realign the industry with its founding ideals. Despite facing challenges, Nerayoff intends to establish a blockchain innovation hub, positioning himself as a pivotal figure shaping Ethereum’s future and the wider crypto domain.

ETH Technical Analysis:

ETH was moving up and was trading between major current zones of $1921.65 and $2134.99.

The market is in a pullback phase, just like BTC. The price tried moving up but did not succeed, forming a double-top pattern. The recent candle formations are small indecisive candles that signify the market sentiment might change. The market is above the 50EMA, which also indicates the market is bullish.

The RSI level is at 58.12, indicating sight overbought condition. Based on the analysis, ETH is anticipated to reach $2303.54 by mid-December 2023.

  Support  Resistance

XRP: XRP price decreased by 2.00% and 2.69% over 24 hours and the past seven days. The asset reached a low and high of $0.6085 and $0.6356, respectively.

Edward Farina, the CEO of Alpha Lions Academy, envisions XRP potentially reaching $10,000, highlighting the principles of supply and demand in his analysis of Ripple’s disruption of the SWIFT system. RippleNet’s efficiency, absent weekend delays and steep costs positions XRP to capture a slice of the vast global payment sector.

For functioning as a bridge currency via RippleNet, XRP competes directly with SWIFT, showcasing superior transaction speeds and finality. Farina emphasizes XRP’s technological edge over Bitcoin and Ethereum, lauding its real-time settlement capabilities. His outlook underscores XRP’s potential to reshape cross-border transactions and ascend to unprecedented heights in the evolving crypto landscape.

XRP Technical Analysis:

XRP was in an uptrend for the time being and went into the exhaustion phase. Small candles with long wicks and small bodies show neither the buyers nor the sellers are not in proper control of the market.

Over a period, the price started to trade down, forming lower highs and lows. A bullish candle with a very extended wick shows the bearish pressure. Currently, the price is between the two levels of $0.5738 and $0.6291, which serve as support and resistance.

The price crossed the 50EMA, which shows the market could consolidate. The RSI level is at 47.30, showing neutral overbought and sold condition. XRP may trade at $0.8498 very soon if the market continues to move in the bullish direction.

  Support  Resistance

LTC: LTC price decreased by 3.04% and 1.35% over 24 hours and the past seven days. The asset reached a low and high of $69.43 and $71.68, respectively.

Litecoin has long led the crypto market with its swift transactions, but as the landscape evolves, Euler Network emerges as a scalability frontrunner. Euler’s forward-thinking approach and scalable design surpass Litecoin in transaction efficiency. As demand for scalability rises, Euler Network’s innovative features position it as a standout choice for users and investors seeking high-performing crypto solutions.

LTC Technical Analysis:

LTC was in an uptrend and formed its swing high at 76.51%. The Daily time frame shows a small pullback, which did not last long. The pullback came to the previous swing high of $65.885.

There is no clear market trend as the 50EMA also crosses and stays between the prices.

The current price is stuck between the two levels, $65.885 and $72.143. The RSI level is at 48.79, which indicates the market is neutral.

Traders may wait for a clear trend confirmation, which will come once any level is breached. A $78.62 level is possible if the market breaks the resistance level and the sentiment becomes bullish.

  Support  Resistance

Vantage does not represent or warrant that the material provided here is accurate, current, or complete, and therefore should not be relied upon as such. The information provided here, whether from a third party or not, is not to be considered as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any financial instruments; or to participate in any specific trading strategy. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. We advise any readers of this content to seek their own advice. Without the approval of Vantage, reproduction or redistribution of this information is not permitted.

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