Global Market Highlight
Consumer confidence rose in November, with The Conference Board Index increasing to 111.7 from 109.6 in October, driven by optimism in the labor market. However, new single-family home sales in October fell sharply to 610,000, down 17.3% from September and 9.4% year-over-year.
Durable goods orders edged up 0.2% in October, aided by a 0.5% rise in transportation equipment. Meanwhile, Q3 GDP growth slowed slightly to 2.8%, supported by consumer spending and exports, but offset by declines in private inventories and residential investments.
Labor market strength persisted, with initial jobless claims steady at 213,000, below forecasts. Inflation stayed on track as the Core PCE Price Index rose 0.3% monthly and 2.8% annually in October.
Crude oil inventories dropped by 1.8 million barrels in late November, while the Chicago PMI fell to 40.2, marking its 12th consecutive contraction and the steepest drop since May. Mixed economic signals highlight ongoing challenges in housing and manufacturing.
Theta Labs & Phoenix Global Media Launch AI-Powered Audio Streaming
Theta Labs has partnered with Phoenix Global Media Group to launch AIR, an AI-powered audio streaming platform that leverages Theta's EdgeCloud technology. This collaboration aims to deliver dynamic, personalized content to over 1.3 million daily users, integrating blockchain infrastructure to enhance user experience and content delivery. The announcement of this partnership has contributed to a significant surge in Theta's (THETA) token price. Over the past month, THETA has experienced a 158.86% increase
The integration of AI and blockchain technologies in the AIR platform showcases Theta's innovative approach to digital media, attracting investors and driving demand for the THETA token. The partnership not only enhances Theta's ecosystem but also positions it at the forefront of AI-driven content delivery, contributing to the recent price surge.
BTC Technical Analysis
Bitcoin (BTCUSDT) recently demonstrated strong bullish momentum, breaking past the key resistance level of $93,265 and reaching a local high of $99,588. This move confirmed a breakout from the prior ascending triangle pattern, signaling robust market demand and continued bullish sentiment. However, after approaching the psychological barrier of $100,000, the price has started to retrace, with BTC currently trading around $96,385.
This retracement suggests healthy profit-taking or a temporary correction after the rally. The $99,500–$100,000 zone remains a critical resistance area, and a decisive break above it could pave the way for further upside targets, such as $105,000 and $110,000. On the downside, $93,265 now serves as a crucial support level, with $88,000 as the next key level if the support fails. As long as BTC holds above $93,265, the medium-term bullish structure remains intact.
ETH Technical Analysis
The ETH/USDT chart shows a strong uptrend, with ETH currently trading at $3,671.28, retracing slightly (-0.98%) from its recent high of $3,760. Key resistance lies at $3,760, which aligns with the recent peak, while the next significant resistance could emerge around $3,800 if the upward momentum continues. On the downside, support levels are identified at $3,400, $2,695, and $2,502, with $2,360 serving as a major historical support zone.
The recent breakout above $3,400 highlights bullish momentum, but the small bearish candlestick suggests a possible short-term pullback or consolidation. A sustained move above $3,760 could confirm further bullishness, while a drop below $2,502 may indicate a reversal of the uptrend. Traders should monitor volume and price action near these critical levels to gauge the next move.
SOL Technical Analysis
The SOL/USDT chart on the daily timeframe indicates a slight retracement from recent highs, with SOL currently trading at $228.16, down 3.65% for the day. After reaching a local high of $264.39, the price has started to pull back, suggesting some profit-taking or weakening bullish momentum. Key support levels are visible around $200, where the price previously consolidated before breaking higher, and the broader support zone between $180–$200 provides a cushion against further declines.
Resistance remains at $264.39, the recent high, with potential upward targets at $280 if the bullish momentum resumes. The ongoing retracement could test the support zone near $200 for confirmation of its strength. The chart reflects an overall bullish structure from October to November, with higher highs and higher lows, although the current pullback may signal a short-term correction. A break below $200 could expose SOL to deeper levels around $180 or even $165.
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