The Crypto market witnessed a resurgence in November, with exchange volumes soaring to a three-year high of $2.9 trillion. This bullish momentum comes amid growing hopes for pro-crypto regulations following Donald Trump’s U.S. presidential election victory. While Bitcoin has struggled to breach the $100,000 mark despite a 38% monthly gain, altcoins like Ondo Finance (ONDO), JasmyCoin (JASMY), and Chainlink (LINK) are emerging as investor favorites.
Ondo Finance (ONDO) Surges Amid Growing Confidence
Ondo Finance has made significant strides in the decentralized finance (DeFi) sector, offering tokenized real-world assets and fixed-yield loans. Its price recently rallied 44.88%, reaching an all-time high of $1.80 before stabilizing at $1.69.
Source: CoinMarketCap / ONDO
Technical indicators like a Relative Strength Index (RSI) of 85 signal overbought conditions, but open interest in ONDO futures surged from $185.45 million to $304.53 million, reflecting growing market optimism. Analysts predict ONDO could test the $2 mark if the current momentum holds.
JasmyCoin (JASMY) Rides Fibonacci Levels to New Highs
Dubbed “Japan’s Bitcoin,” JasmyCoin has gained traction, posting a 40.5% jump in 24 hours to $0.04068. The token’s broader uptrend since November 5 has led to a 145% surge, supported by a rounding bottom reversal pattern.
Source: CoinMarketCap / JASMY
Currently trading near the 100% Fibonacci retracement level, JasmyCoin faces key upside targets of $0.0522 and $0.0717. However, a potential pullback to the 78.6% Fibonacci level at $0.0335 could precede further gains.
Chainlink (LINK) Rallies on Strong Technicals
Chainlink’s LINK token has surged 123% over the past three weeks, trading above $24. A Golden Cross between its 50-day and 200-day exponential moving averages (EMAs) underscores bullish momentum.
$LINK/usdt DAILY
It’s $LINK SEASON, now we do $22 –> $52 🚀🚀 https://t.co/kJOaCpeyML pic.twitter.com/dg3H5au2fU
— Satoshi Flipper (@SatoshiFlipper) December 3, 2024
The token is currently within an ascending channel, with resistance at $30. Maintaining support above $20 is crucial to sustain its rally, though a bearish reversal could bring prices back to $17.
Institutional Investments Bolster Market Optimism
Institutional players continue to fuel market confidence. MicroStrategy recently added 15,400 Bitcoin to its reserves, bringing its total holdings to 402,100 BTC, while Genius Group acquired 172 BTC, allocating 90% of its reserves to Bitcoin. These moves highlight a growing belief in Bitcoin’s long-term value, even as investors increasingly turn to altcoins for high-growth opportunities.
