Perhaps the hidden Thanksgiving pattern will influence

📌 Perhaps the hidden Thanksgiving pattern will influence the crypto market again next week.

Crypto indicators have turned positive after a difficult November: RSI jumped, MACD turned bullish, and the overall mood improved after extremely low levels. . Bitcoin

– Crypto indicators have turned positive after a difficult November: RSI jumped, MACD turned bullish, and the overall mood improved after extremely low levels.

These signs are similar to the post-Thanksgiving situations in 2022 and 2023, when the market found equilibrium before the important December move.

Exhaustion of sellers and low liquidity hint at significant events in December, which will depend mostly on ETF inflows and macroeconomic signals, not just sentiment.

the cryptocurrency sector is showing its first noticeable rebound since November’s severe downturn, and some indicators are now reminiscent of conditions seen during Thanksgiving in 2022 and 2023.

Bitcoin has regained the $91,000 mark, ETH is back above $3,000, and the overall market has turned a cautious green color. This rebound comes as traders enter the long holiday weekend in the US, which traditionally sets the tone for December.

The Fear and Greed Index shows an improvement in sentiment from 11 last week to 22 today, although it is still in the “extreme fear” zone.

This shift coincides with a steady rise in the average RSI of cryptocurrencies, which has risen from 38.5 seven days ago to 58.3 today. The indicator is showing increasing strength after being deeply oversold at the beginning of the month.

Momentum has also changed. The normalized MACD of the major assets turned positive for the first time since early November.

About 82% of tracked cryptocurrencies are now showing positive trend momentum. Bitcoin, Efirium and Solana are in a bullish zone on CoinMarketCap’s MACD heatmap.

The price dynamics confirm this break. Bitcoin added 6% during the week. Ethereum grew by almost 8% . Solana showed an increase of about 8% over the same period.

total market capitalization increased to $3.21 trillion, adding 1.1% over the past 24 hours.

The current rise follows a pattern seen twice before. In 2022 and 2023, the market approached Thanksgiving after falling sharply before stabilizing in December.

In 2022, bitcoin dropped to nearly $16,000 after the FTX crash. The selling pressure wore off by Thanksgiving, and the market traded in a sideways range until Christmas.