BTC, ETH, XRP, SOL, BNB, DOGE, ADA, AVAX, LINK, SHIB

Bitcoin (BTC) continues to witness a fierce battle between bulls and bears near $100,000. A positive sign is that the bulls are not having much influence on the downtrend, so they are likely to break out of the uptrend.

Jag Kooner, head of derivatives at Bitfinex, said interest rate cuts by the People’s Bank of China on November 21 and the European Central Bank on December 12 could “stimulate capital flows into risk-exposed markets, including cryptocurrencies.” “There is,” he said. This sentiment could improve further if the US Federal Reserve (Fed) cuts interest rates when it meets on December 18. This could push Bitcoin to “record levels” by the end of the year.

Analysts expect Bitcoin’s rally to continue into 2025. Bitcoin could witness a “demand shock” in 2025 due to increased institutional participation, pushing its price higher, according to a report from Sygnum Bank, an asset manager specializing in cryptocurrencies. The report added that altcoins could join the rally only if the US passes legislation supporting cryptocurrency adoption.

Could Bitcoin begin its next rally, spurring altcoin buying? Or will the recovery falter? Let’s analyze the top 10 cryptocurrencies chart to find out.

Bitcoin Price Analysis

Bitcoin broke above overhead resistance at $101,900 on December 12, but the bulls failed to sustain higher levels.

Rising moving averages indicate an advantage for buyers, but negative divergences in the Relative Strength Index (RSI) suggest that bullish momentum is waning. The price would have to rise above $104,088 for the buyer to retain control. That could send the BTC/USDT pair soaring to $113,331 and then $125,000.

Instead, if the price declines and falls below the 20-day exponential moving average ($96,916), it would mean that the uptrend is losing steam. The pair could fall to $90,000, which would likely attract buyers. The near-term trend will tilt in favor of the bears if they fall below the 50-day simple moving average ($87,267).

Ether Price Analysis

After the bears failed to sink Ether (ETH) below the downtrend line, the bulls showed strong buying momentum.

The ETH/USDT pair reached around $4,000 on December 12, where bears are expected to put up a strong defense. If the price declines from current levels but bounces from the 20-day EMA ($3,686), this would indicate positive sentiment. This would improve the prospects of a rally above $4,094. The pair could then rise to $4,500.

Conversely, if the price declines and falls below the 20-day EMA, it means that the bears are fiercely defending the $4,094 level. This could keep the pair ranged between $4,094 and $3,500 for some time.

XRP Price Analysis

XRP (XRP) broke below the downtrend line on December 12th, but bears are struggling to push the price up to the 20-day EMA ($2.11).

Buyers are trying to buy the slight dip and then push the price back above the downtrend line. If successful, the XRP/USDT pair could rise to $2.65. This level could act as a stiff hurdle, but if it is crossed, the rally could reach $2.91. The bears are expected to defend the $2.91 level with all their might, as a break above that level would pave the way for a rise to $3.50.

The 20-day EMA and the 61.8% Fibonacci retracement level of $1.90 are likely to provide solid support for the downtrend.

Solana Price Analysis

Solana (SOL) broke above the 20-day EMA ($228) on December 12, but the long wick of the candlestick is showing selling near the resistance line of the descending channel pattern.

A flat 20-day EMA and RSI near the midpoint offer no clear advantage to either bulls or bears. If the price stays below the 20-day EMA, the bears will try to pull the SOL/USDT pair down towards the support line. A breakout and close below the support line suggests that the pair may have peaked in the near term.

For buyers to maintain the upper hand, they must push the price above the resistance line and hold it there. That would pave the way for a rebound to $248 and then to $264.

BNB price analysis

BNB’s (BNB) relief rally is on the verge of being sold off at $722, but a slightly positive note is that the bulls have not allowed the price to fall below the 20-day EMA ($689).

If the price rises above $722, the BNB/USDT pair could rise to $761. Sellers are expected to mount a strong challenge in the $761-$794 area, but if buyers break through the resistance, the price could surge to $861.

Contrary to this assumption, if the price falls below the 20-day EMA, the pair could fall towards the 50-day SMA ($637). This remains a key level for bulls to defend, as a break below this level could lead to a decline to $520.

Dogecoin price analysis

Dogecoin (DOGE) re-entered the channel on December 11th, but bulls are struggling to hold the price above the 20-day EMA ($0.40).

If the price breaks out and stays below the 20-day EMA, the DOGE/USDT pair could fall to $0.36. A close below $0.36 could push the price down to the 50-day SMA ($0.32), where bulls are expected to intervene.

On the positive side, the bulls would need to hold the price above $0.43 to suggest that the breakdown below the channel may have been bearish. The pair will then attempt to rise to $0.48.

Cardano Price Analysis

Cardano’s (ADA) relief rally is facing selling near the 61.8% Fibonacci retracement level of $1.16.

Immediate support for the downside is the 20-day EMA ($1.05). If the price bounces off the 20-day EMA, bulls will again attempt to push the ADA/USDT pair above $1.16. If successful, it could challenge $1.33 resistance.

On the other hand, a close below the 20-day EMA increases the chances of a range formation. This pair can fluctuate between $1.16 and $0.91 over several days. A break below $0.91 would indicate a downside advantage.

relevant: Dogecoin Fractal Hints 85% DOGE Price Rise Amid Whale Accumulation

Avalanche Price Analysis

Avalanche (AVAX) surged from $40.40 on December 9, indicating aggressive buying at low levels.

Bulls are expected to sell at $56, but if the price is not allowed to fall below $51, the chances of a breakout increase. The AVAX/USDT pair could rise to $60 and then to $65.

Conversely, if the price falls below $51, it signals a decline in demand from higher levels. The pair may fall towards the 20-day EMA ($47.07), which is an important level to watch out for. If the 20-day EMA is broken, the pair could plummet to the 50-day SMA ($37.22).

Chainlink Price Analysis

Chainlink (LINK) surged from the 20-day EMA ($22.56) on December 11, breaking the overhead resistance at $27.41 on December 12. However, the rally is in danger of being sold off at $30.94.

Rising moving averages and RSI in positive territory indicate that buyers have the upper hand. If the price rebounds from $27.41, it means that the bulls are trying to turn into support. This improves the prospects for a rally above $30.94. The LINK/USDT pair may rise to $34.50 and then to $38.30.

The first sign of weakness would be a drop below $27.41. This opens the possibility of a decline towards the 20-day EMA.

Shiba Inu price analysis

Shiba Inu’s (SHIB) recovery hit a wall at the overhead resistance of $0.000030 on December 12, indicating that bears are selling the rally.

The 20-day EMA ($0.000028) is leveling off and the RSI is near the midpoint, suggesting a balance between supply and demand. The SHIB/USDT pair may remain ranged between its 50-day SMA ($0.000024) and solid overhead resistance at $0.000033.

If buyers drive the price above $0.000033, they will have the upper hand. The pair may rise to $0.000039 and later rise to $0.000046. If the bears fall below the 50-day SMA, the bears will be in favor.