SPX, DXY, BTC, ETH, XRP, SOL, BNB, DOGE, ADA, AVAX

Bitcoin (BTC) fell below $95,000, but lower levels attracted buyers. Undeterred by Bitcoin's sharp rally to $100,000, the two largest corporate owners, MicroStrategy and MARA Holdings, have continued to build their holdings with new purchases over the past few weeks.

Following November's 37% gain, traders remain optimistic about Bitcoin's prospects in December. Markus Thielen, founder and CEO of 10x Research, told Cointelegraph that Bitcoin averaged an “amazing +28%” positive return in December in the first half of the year.

Long-term investors may view any dip as a buying opportunity in the near term. Analysts say Bitcoin is expected to gain momentum after breaking above $100,000.

Real FOMO starts above $100k. Once the epic sales wall falls, we enter a new retail-driven endless supply gap. Do the math,” said Charles Edwards, founder of Capriol Investments, in a post on X.

Will Bitcoin continue to rise or enter consolidation, shifting focus to altcoins? Let's examine the charts to find out.

S&P 500 Index Price Analysis

The S&P 500 Index ( SPX ) hit a new all-time high on December 2, indicating strong demand at higher levels.

The upward moving averages and relative strength index (RSI) in the positive zone indicate that buyers are in orders. If the price is above 6,000, the index may rise to 6,221 and later to 6,500.

Time is running out for the bears. If they want to pull back, they need to drop below the 50-day simple moving average (5,845). If they do that, the index may start a deep correction towards 5,670.

Analysis of the price of the US dollar index

The US Dollar Index (DXY) has declined significantly from resistance above 108 but is finding support at the 20-day moving average (105.93).

Buyers will try to push the price to 108, but bears are expected to maintain the level with all their might. The flat 20-day EMA and RSI suggest that the bullish momentum is weakening in positive territory. This could indicate a range-bound move between the 20-day EMA and 108 in the near term.

Sellers need to sink and hold the price below the 20-day EMA to maintain control. The index may drop towards the 50-day SMA (104.15).

Bitcoin price analysis

Bitcoin is facing strong resistance at the psychological critical level of $100,000. Failure to break above resistance may tempt short-term buyers to book profits.

The first support on the downside is the 20-day EMA ($92,534). If the price recovers from the 20-day EMA, the bulls will try again to drive the BTC/USDT pair above $100,000. If they can pull it off, the pair could rise to $113,331 and then $125,000.

Conversely, a break below the 20-day EMA increases the possibility of range formation in the near term. The pair may drop to $90,000 and later to $85,000. Buyers are expected to strongly defend the $85,000 to $90,000 support zone.

Ether price analysis

Ether (ETH) is holding above the low line, but the bulls are struggling to push the price towards $3,900.

Sellers will try to pull the price back below the 20-day EMA ($3,379). If the price recovers strongly from the 20-day EMA, the possibility of rallying towards $4,094 will increase.

Conversely, a break and close below the 20-day EMA indicates that a breakout above the lower line could be a bull trap. That could increase the selling pressure by pulling the ETH/USDT pair towards $3,000.

XRP price analysis

XRP (XRP) continues to move higher after breaking above $1.63 on November 29. The $1.97 level was expected to act as a strong resistance, but the buyers easily passed the level.

The XRP/USDT pair may reach $3 and later try to retest the all-time high at $3.84. The sharp rally of the past few days has pushed the RSI into overbought territory, increasing the risk of a sharp pullback. Traders should be prepared and cautious for increased volatility.

The $2 level can act as a strong support during pullbacks. Sellers should pull price below $2 and hold it to signal a reversal.

Solana price analysis

The bears have pulled Solana (SOL) below the 20-day EMA ($230), which the bulls are losing their grip on.

There is some support at $222, but if the level breaks out, the SOL/USDT pair could slide towards the $210 breakout level. This is an important step to protect for buyers if you want to maintain a bullish feeling. If the price is from 210 dollars, it shows that the level is working as a new floor.

On the downside, a move above $236 could initiate a move higher towards $265. The bears are expected to mount a strong resistance at $265, but if the bulls lose, the pair can rally to $304.

BNB price analysis

BNB (BNB) declined from $677 on November 30, indicating that the bears will strongly defend the $687 resistance.

The 20-day EMA ($635) is the first support on the downside. If the price recovers from the 20-day EMA, the bulls will try to push the BNB/USDT pair above $687. If successful, the pair could raise about $722.

Instead, if the 20-day EMA is broken, the pair could fall towards the 50-day SMA ($609). This is an important level for bulls to guard because a break below it could sink the pair to the upper line.

Related: Why Is Bitcoin Price Stuck?

Dogecoin price analysis

Dogecoin (DOGE) made a candlestick pattern on December 2nd, indicating a fierce battle between bulls and bears.

The upward movement may face selling at the resistance line of the channel. If the price breaks below the resistance line, it indicates that the DOGE/USDT pair may spend some more time in the channel.

A break and close below the channel suggests profit booking by short-term traders. That price may drop to $0.33 and later to $0.30. Alternatively, a break and close above the channel could clear the way to $0.59 for a rally.

Cardano price analysis

The bulls are trying to maintain the resistance above $1.15, which indicates the resumption of the increase.

The bulls will try to push the price towards $1.25, which may act as a strong barrier. If the price falls below $1.25 but rises above $1.15, it indicates that the bulls have reversed the level to support. That improves vacation time by more than $1.25. The ADA/USDT pair may rise to $1.64.

On the contrary, if the price cannot maintain above $ 1.15, it shows that the bears will sell in rallies. The price may drop to $1 and then to the 20-day EMA ($0.91).

Price analysis

Avalanche (AVAX) increased to $ 51, the bears can form a strong defense.

If the price declines significantly from $51, the AVAX/USDT pair may drop to the 20-day EMA ($40.19). The 20-day EMA and RSI indicate the potential for buyers in the overbought zone. A strong rebound at the 20-day EMA improves the prospect of a rally above $51. That could push the pair to $60.

To trigger a reversal, sellers must push the price below the 20-day EMA. The pair may drop to $38, which is expected as a strong support.

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.