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As we approach the end of the year, traders are wrapping up their positions and closing contracts ahead of the holiday season. As a result, the cryptocurrency market has remained largely stagnant, with no signs of a “Santa rally” to boost prices.
ETH continues to trade sideways at $3,418.21, as investors remain cautious in the face of regulatory uncertainty and global economic instability. This lack of momentum is reflected in open interest data, which shows fluctuating levels that are generally lower than previous weeks.
Solana’s price action has been similarly range-bound, failing to break above a locally formed high at $202.00 despite a brief rally on December 25 driven by retail traders. Open interest data indicates pockets of retail traders entering the market, but overall activity remains subdued. SOL is currently trading at $193.07.
Ripple’s price action has also stalled, reaching a weekly high of $2.34 and logging a low of $2.11. However, within this range, the price trend is decidedly bearish. Open interest data shows sporadic levels driven by small pockets of retail traders, but overall engagement remains limited. XRP trades at $2.06 as of publishing.
Despite the lack of direction in the market, it’s essential for investors to stay informed and adapt their strategies accordingly. With regulatory uncertainty and economic instability on the horizon, we can expect more volatility in the coming year.
Source: coinjournal.net
