This is the second year in a row that Nov has turned out to be the worst calendar month for Bitcoin (BTC) of the year.

In 2022, Bitcoin'due south toll had plunged 36.18%. While this twelvemonth, the turn down has been 17.51%. Even so, Dec is an important month to watch out for. Since 2022, Bitcoin has moved more 30% in December. If history were to repeat itself, traders should buckle upwardly for some violent moves in this month.

At to the lowest degree 5 Chinese cryptocurrency exchanges accept halted or terminated operations in Nov. This is the latest crackdown on crypto trading in Communist china since it banned users from buying cryptocurrencies with fiat coin back in September 2022.

According to information from Chainalysis, the Asia-Pacific region, dominated past People's republic of china, however has nearly 20 of the 50 top global crypto exchanges. These exchanges accounted for near xl% of Bitcoin transactions in the first half of the yr. Hence, the crypto markets react sharply to any major proclamation coming out of Cathay.

Crypto market data weekly view. Source: Coin360

Crypto market data weekly view. Source: Coin360

While the ascent and fall of cryptocurrencies will continue to sus scrofa the limelight, we should as well proceed an centre on the benefits of blockchain technology for guild.

A study by Juniper Inquiry shows that the food industry will benefit immensely by using blockchain in conjunction with Internet of Things (IoT) sensors and trackers. This move can upshot in food fraud savings of up to $31 billion within the next 5 years.

Can the crypto markets stage a recovery in the concluding month of the year? What do the charts of the top performers of the past seven days projection? Let's find out.

ATOM/USD

Cosmos (Cantlet) has seen huge gains in the past seven days with a xix% rally. During the week, the community approved the Cosmos hub 3 upgrade, which is probable to have identify on Dec. 11. Can the altcoin go along its rally in the next few days or will information technology confront profit booking? Let's analyze its nautical chart.

ATOM/USD weekly chart. Source: Tradingview

ATOM/USD weekly chart. Source: Tradingview

The Atom/USD pair is stuck in a $iv.4389 to $i.9101 range. The bulls failed to propel the price above the range a couple of weeks back. Yet, the subsequent dip below $3 was purchased aggressively that has propelled the price dorsum towards the resistance. This is a positive sign equally it shows strong demand at lower levels.

We anticipate the buyers to make ane more endeavor to push the price above the overhead resistance. If successful, the pair might pick up momentum and rally to $7, which is likely to act as a potent resistance. Therefore, traders can buy on a close (UTC fourth dimension) above $4.4389 with a stop loss of $ii.sixty.

Nevertheless, if the bulls fail to button the price above $four.4389, the price might extend its stay inside the range for a few more weeks. The beginning support on the downside is $2.6218 and below it $1.9101.

TRX/USD

Cryptocurrency exchange Poloniex acquired TRX Marketplace, the largest non-custodial commutation on the Tron (TRX) network, for an undisclosed corporeality. Following the buyout, Poloniex has renamed TRX Market place as "Poloni DEX" and has changed the website to poloniex.org.

TRX/USDT weekly chart. Source: Tradingview

TRX/USDT weekly chart. Source: Tradingview

The TRX/USD pair is stuck in a big range between $0.041 on the upside and $0.011240 on the downside. Currently, the price is attempting to bounce off the minor support shut to $0.013 levels.

A potent rebound can behave the price to $0.02340, which is likely to concenter sellers. If the price turns down from the overhead resistance, the pair will consolidate between $0.013 and $0.02340, whereas, a breakout of $0.02340 can propel the price to $0.0410

Conversely, if the price turns down from the current levels and plummets below $0.013, a retest of $0.011240 will be on the cards. The 20-week EMA is sloping down gradually and the RSI is all the same in the negative territory, which suggests that bears are in command. We do not find any reliable buy setups, hence, we remain neutral on the pair.

ADA/USD

The Cardano (ADA) Foundation and fintech platform Coti, have developed AdaPay, an ADA payment gateway for merchants, which offers "near-instant" settlement in 35 fiat currencies directly in their banking concern accounts. Will this move boost prices in the coming weeks? Allow'south study its chart.

ADA/USDT weekly chart. Source: Tradingview

ADA/USDT weekly nautical chart. Source: Tradingview

The bulls take been attempting to defend the support at $0.035778 for the past two weeks. Notwithstanding, with the 20-week EMA sloping down and the RSI in the negative territory, the reward is with the bears.

If the rebound fails to scale above the 20-week EMA, the bears volition attempt to sink the toll below $0.035778. If successful, a retest of $0.028271 will exist on the cards. Below this level, the downtrend will resume.

The beginning sign of strength will exist a move above the 20-week EMA. Such a motion volition indicate aggregating by the bulls at lower levels. The ADA/USD pair will selection up momentum on a break above the $0.0560221 to $0.065229 resistance zone.

EOS/USD

Vi of EOS'south total pool of Cake Producers are being managed by a single entity, according to EOS Block Producer EOS New York.

This over again raked up the effect of centralization in the EOS community. However, the altcoin shrugged bated the news and managed to rally about eight% in the by seven days. Can it extend its rally?

EOS/USD weekly chart. Source: Tradingview

EOS/USD weekly nautical chart. Source: Tradingview

The EOS/USD pair is bouncing off the disquisitional support at $2.4001. This is a positive sign as it shows that buyers are keen to accumulate at lower levels. The price tin now motility up to the downtrend line.

We anticipate strong resistance at the downtrend line considering three previous relief rallies had been rejected there. If the price again reverses direction from the downtrend line, the bears volition try to sink it below $ii.4001. If successful, a retest of $1.55 is likely.

Alternatively, if the bulls tin can propel the cost above the downtrend line, a move to $4.8719 is tin occur. The pair volition choice upwards momentum on a break to a higher place this level.

XMR/USD

A few crypto exchanges are delisting privacy-centric coins to appease regulators. Cryptocurrency substitution BitBay, for example, volition delist Monero (XMR) on Feb. 19 adjacent year.

Security firm Eset has reported that cybercriminals have been using YouTube channels to distribute a Monero cryptocurrency mining module. However, later on Eset informed YouTube, the channels were removed. Business organisation technology publication ZDNet has reported that hackers have launched a new cryptojacking campaign to target vulnerable Docker instances to deploy crypto-malware to mine Monero.

Even though the news flow has not been supportive, the altcoin has turned out to be the fifth-best performer of the past seven days. Do the technicals project a farther rally? Let's detect out.

XMR/USDT weekly chart. Source: Tradingview

XMR/USDT weekly chart. Source: Tradingview

The XMR/USD pair has been trading inside a descending channel for the by few months. A breakout of the channel and the moving averages will exist the starting time sign that the downtrend might be over.

If the toll closes (UTC fourth dimension) above the moving averages, we anticipate a move to $121.427. Therefore, traders can initiate long positions on a close (UTC time) above the moving averages with a stop below $38.

Even so, if the price fails to sustain above the channel, the bears will attempt to sink the pair below the critical support at $38.83. This is an of import level to sentry out for because if it cracks, the downtrend volition resume.

The views and opinions expressed here are solely those of the author and do not necessarily reverberate the views of Cointelegraph. Every investment and trading move involves risk, yous should conduct your own research when making a determination.

The marketplace data is provided past the HitBTC exchange.