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 have not given much ground to the bears, which increases the possibility of an inverted breakout.

Bitfinex head of derivatives Jag Kooner on November 21, the People's Bank of China and the European Central Bank on December 12 reduced the rate “capital to risk-risk markets, including kriptovalyutnoy.” Sentiment could improve further if the US Federal Reserve cuts rates at its December 18 meeting. That could push Bitcoin to “record-breaking levels” by the end of the year.

Analysts predict that Bitcoin's rally may extend into 2025. According to a report by Signum Bank, a crypto-focused asset manager, Bitcoin may witness a “demand shock” in 2025 due to institutional participation, and its price will rise. The report adds that altcoins can only join the rally if the US enacts laws that support crypto adoption.

Could Bitcoin start its next leg of support, boost buying in altcoins, or will the recovery falter? Let's examine the charts of the top 10 cryptocurrencies to find out.

Bitcoin price analysis

Bitcoin rallied above resistance above $101,900 on December 12, but the bulls were unable to hold higher levels.

The upward moving averages indicate gains for buyers, but a negative divergence in the relative strength index (RSI) indicates that the bullish momentum is weakening. Buyers need to keep the price above $104,088 if they want to stay in control. If they do, the BTC/USDT pair could rise to $113,331 and then to $125,000.

Instead, if the price declines and breaks below the 20-day exponential moving average ($96,916), it suggests that the bulls are losing their grip. The pair can slip to $90,000, which could attract buyers. If the price drops below the 50-day simple moving average ($87,267), the short-term trend is tilted to the bears.

Ether price analysis

The failure of Ether (ETH) to sink below the lower line attracted strong buying by the bulls.

The ETH/USDT pair reached $4,000 on December 12, and the bears are expected to have a strong resistance. If the price declines from the current level but retraces the 20-day EMA ($3,686), it will show positive sentiment. That improves prospects for a rally above $4,094. Then the pair can cost around $4,500.

Conversely, if the price declines and breaks below the 20-day EMA, it suggests that the bears will strongly defend the $4,094 level. That pair could keep the range between $4,094 and $3,500 for some time.

XRP price analysis

XRP (XRP) has broken down from the December 12 low, but the bears are struggling to pull the price back to the 20-day EMA ($2.11).

The bulls are buying the smaller double and trying to push the price above the lower line again. If they can pull through, the XRP/USDT pair could rise to $2.65. This level could act as a strong barrier, but if 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 it clears a possible rally to $3.50.

The 20-day EMA and the 61.8% Fibonacci retracement level at $1.90 could act as strong support.

Solana price analysis

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

The flat 20-day EMA and RSI near the midpoint do not give a clear advantage to either the bulls or the bears. If the price is below the 20-day EMA, the bears will try to pull the SOL/USDT pair to the support line. A break and close below the support line suggests that the pair may be over in the short term.

If buyers want to keep the advantage, they need to push the price above the resistance line and hold it. That clears the way to $248 and then $264.

BNB price analysis

BNB (BNB) has a support rally at $722, but a slight positive is that the bulls are not allowing the price to drop below the 20-day EMA ($689).

If the price rises above $722, the BNB/USDT pair may move to $761. In the range of 761 to 794 dollars, sellers are expected to create a serious challenge, but if buyers pierce the resistance, the pair can rise to 861 dollars.

Contrary to this assumption, if the price is below the 20-day EMA, the pair may slide towards the 50-day SMA ($637). This remains a key level for the bulls to defend against as a break below it could lead to a drop to $520.

Dogecoin price analysis

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

If the price breaks down and breaks below the 20-day EMA, the DOGE/USDT pair may slide towards $0.36. A break and close below $0.36 could sink the pair to the 50-day SMA ($0.32), where the bulls are expected to move in.

The bulls need to push and hold above $0.43 to suggest that a break below the channel could be a bear trap. The pair will test the $0.48 rally.

Cardano price analysis

Cardano's (ADA) support rally is trading at the 61.8% Fibonacci retracement level near $1.16.

Immediate support is at the 20-day EMA ($1.05). If the price recovers from the 20-day EMA, the bulls will again try to drive the ADA/USDT pair above $1.16. If successful, the pair may test the $1.33 resistance.

On the other hand, a break below the 20-day EMA increases the possibility of a closing range. The pair may fluctuate between $1.16 and $0.91 for a few days. A break below $0.91 would indicate favor for the bears.

Related: Dogecoin fractal hints at 85% DOGE price rally among whale stocks

Price analysis

Avalanche (AVAX) rebounded sharply from $40.40 on December 9, indicating aggressive buying at lower levels.

The bulls are facing a selloff at $56, but if they don't let the price drop below $51, they are more likely to break out. The AVAX/USDT pair may rise to $60 and then to $65.

Conversely, if the price falls below $51, it indicates that demand is drying up significantly. The pair may drop down to the 20-day EMA ($47.07), which is an important level to watch out for. If the 20-day EMA is broken, the pair may move down towards the 50-day SMA ($37.22).

Chainlink price analysis

Chainlink (LINK) rebounded sharply from the 20-day EMA ($22.56) on December 11 and broke the resistance above $27.41 on December 12. However, the lineup retails for $30.94.

Upward moving averages and an RSI in the positive territory indicate that buyers have a peak. A break above $27.41 would suggest that the bulls are trying to turn the level into support. That improves prospects for a rally above $30.94. The LINK/USDT pair may jump to $34.50 and then to $38.30.

The first sign of weakness would be a drop below $27.41. That opens the doors to a fall to the 20-day EMA.

Shiba Inu price analysis

Shiba Inu's (SHIB) recovery hit a wall at $0.000030 on December 12, indicating that bears are selling on rallies.

The 20-day EMA ($0.000028) is flat, and the RSI is near the midpoint, suggesting a balance between supply and demand. The SHIB/USDT pair may remain in the range between the 50-day SMA ($0.000024) and the strong upside resistance at $0.000033.

If the price is above $0.000033, buyers will dominate. The pair could rally to $0.000039 and later to $0.000046. If the pair enters below the 50-day SMA, the advantage is tilted to the bears.

This article does not contain investment advice or recommendations. Every investment and business activity involves risk, and readers should do their own research when making a decision.