Yaz Sheikh, Publisher at CoinCodex

Bitcoin might have seen a small 3.67% price drop today, but the coin is still up by a total of 21% over the past week. Over the weekend, Bitcoin attempted to push higher above the $50,000 level but fell short at $49,700. As a result, Bitcoin has rolled over and dropped lower today as it trades around $47,630.

Bitcoin is up by a powerful 15% over the past week of trading as the cryptocurrency starts to knock on the door of the $40,000 resistance. The cryptocurrency had ended its phase of consolidation last week when it managed to break above the upper angle of a descending triangle. With this breakout, it is expected that Bitcoin will now head back toward the ATH of $42,000 with the newly established bullish momentum.

Chainlink saw a healthy 13.4% rebound after finding support at $21 (.382 Fib Retracement) yesterday. The cryptocurrency had hit a new ATH on Monday as it reached the $27.70 level but started heading lower from there.

The price of Litecoin saw a solid 15.7% surge today as the cryptocurrency pushed into the $165 level. It had surged higher at the start of January 2021 but ran into resistance at $185, which was provided by the May 2018 Highs.

While Bitcoin is soaring, many are asking the same old question: When Altseason 2.0? Well, today, we would like to try and explain to you a potential path toward "Altseason 2.0" and what we can expect along the way.

Yesterday, we released our top coins to watch for this week, which included Blockstack, DIA, and Loom Network. In this analysis, I would like to cover these three coins to help provide some support and resistance levels to keep an eye on moving forward.

What a difference a year can make. In 2020, Bitcoin managed to surge by an extraordinary 340%, causing many banks across the globe to soften their view on cryptocurrencies and start offering cryptocurrency services to their clients.

With Bitcoin continuing to provide fresh ATH prices, a handful of altcoins have struggled quite severely this week. Interestingly, all of these coins tickers start with the letter ‘X’ and, therefore, we decided to dub them as “The X Coins.”

Theta saw a strong 7.15% price hike this week after it bounced from the $0.6 level at the start of December. The cryptocurrency has been in an interesting position since surging as high as $0.08 in September. Although it has dropped slightly, it seems that the bears are unwilling to let go of their holdings beneath the support at $0.583 (.5 Fib).

We are now into the second week of December, with Bitcoin continuing to trade in a consolidation period. The coin is trapped within a symmetrical triangle pattern and will need to break the upper boundary of this triangle for the bullish run higher to continue.