Price analysis 12/20: BTC, ETH, BNB, SOL, ADA, XRP, LUNA, AVAX, DOT, DOGE

For the previous couple of days the bulls have been protecting a 200-day easy moving mean (SMA) of $47,130, however they have not been able push the cost higher than the 20-day exponentialmoving average (EMA), which is $49,622. This indicates an uninspired demand at greater levels.

Everyday cryptocurrency market efficiency. Source: Coin360

Will Bitcoin and the significant altcoins see a continued drop in the coming days? Or will Santa rally be the response? Lets take a look at the charts for the leading 10 cryptocurrency coins to see what happens.

Bitcoin (BTC), which continues to lose ground during December, is an indication that traders could be locking in gains prior to completion the year. There has not been a Santa rally on the U.S. equity market, showing that traders are still careful due to unpredictability about the spread of COVID-19 omicron variants in many parts of the globe.

BTC/USDT

Peter Brandt, a veteran trader, stated that panic capitulations of high volume normally signify a bottom for Bitcoin. This has not occurred in the current fall from the all-time peak. This might suggest that “real” capitulation has yet to happen.

Despite the high drop in Bitcoins worth, institutional investors still require it. Data shows that the Grayscale Bitcoin Trust (GBTC), the biggest institutional Bitcoin product is trading at a discount higher than 20%.

Daily chart of BTC/USDT Source: TradingView

ETH/USDT

If the price rises above the 20 day EMA, this unfavorable view may be revoked. This would recommend that the break listed below 200-day SMA was a bear trap. The set might then climb to $52,000, and then attempt to rally to $60,000.

For the past couple of days, Ether (ETH), has been selling a downward channel. The channel bounced off its support line on Dec. 13, however stopped working to exceed the 20-day EMA ($ 4,058). This indicates that bears are offering on rallies.

The rate fell listed below the 200-day SMA by the bears on December 20. If the cost continues to fall listed below this crucial level, offering could select up. The USDT/BTC set could strike the $42,000-$ 39,600 support zone. Although the bulls will likely protect this area strongly, the healing could be obstructed by the 200-day SMA.

Daily chart of ETH/USDT Source: TradingView

The relative strength index (RSI), below 43, and the downsloping 20 day EMA suggest that the downside is the path of least resistance. The pair ETH/USDT might fall to $3,643.73 prior to reaching the assistance line.

The channel might be extended for several more days by a strong rebound from the support line. The bulls will try to push the cost higher than the channel. It will indicate that selling pressure is decreasing if they succeed.

BNB/USDT

The 100-day SMA ($ 509) was effectively safeguarded by the buyers over the last few days, but Binance Coin (BNB), which is below the 20-day EMA ($ 552), could not be pushed above. This indicates that demand is drying up at higher levels.

Bears may challenge the 200-day SMA ($ 3,288) if the rate falls listed below the channel. If the rate breaks or closes below this level, selling might be magnified.

Daily chart BNB/USDT TradingView

Bears are the winners, as evidenced by the downsloping 20 day EMA and unfavorable zone RSI. If the price breaks below the 100-day SMA, the BNB/USDT set might drop to the $243 level.

Contrary to the presumption, a cost rise above the 20-day EMA will show that the bulls have actually absorbed all the supply. This might cause a rebound to $617, and after that to the $669.30 overhead resistance.

SOL/USDT

Solana (SOL), which was down from the $20-day EMA ($ 183), on Dec. 19, indicated that bears are safeguarding it with vigor. If the cost falls listed below $167.88, a retest of 148.04 may be possible.

Daily chart of SOL/USDT Source: TradingView

If the cost rises above the 20-day EMA, this negative view will be invalidated. This would show that offering pressure is decreasing. The set might rally to $200, and then to $240.

This support is crucial to monitor as a break listed below it might cause the SOL/USDT set ($ 120) to be up to the 200-day SMA ($ 120). Bears are in control of the market, as evidenced by the RSI at 43 and the 20-day EMA that is downsloping.

Cardano (ADA), which has actually bounced off of the strong assistance at $1.18 over the past few trading days, however the bulls have not been able push the price greater than the 20-day EMA ($ 1.35). This shows an uninspired demand at higher levels.

DA/USDT

Daily chart ADA/USDT Source: TradingView

XRP/USDT

The bears will now try to keep the cost below $1.18. The ADA/USDT pair may drop listed below $1.18 if they prosper. This level is likely to be defended strongly by the bulls.

A break above the 20-day EMA will signify strength. This will reveal that supply goes beyond demand. The set could increase first to $1.47, then rally to the overhead resistance at 1.87.

For the past few days, Ripple (XRP), has traded between $0.75 to $0.85. The bulls drove the cost to $0.85 on December 20, the candlesticks long wick recommends that bears are still offering on rallies.

Daily chart of XRP/USDT Source: TradingView

LUNA/USDT

It will be an indication that the bulls are winning if the cost breaks or closes above $0.85. This could result in the mental rate of $1. A break and close lower than $0.75 could permit a drop to $0.60.

The RSI is revealing indications that the bearish momentum may be losing steam. This could suggest that the XRP/USDT pairs will remain within the range for at least a few days.

Terras LUNA token skyrocketed up to a new record high on Dec. 20, but the candlesticks long wick recommends that traders who trade short-term might be making greater earnings.

Daily chart of LUNA/USDT Source: TradingView

If bears push the price below the 20 day EMA, it could suggest that traders are leaving positions. This could result in the pair sinking to $50.

The bulls will try to press the price greater than the overhead zone of $78.29 to $91.87. The bulls might then press the price above the overhead zone at $78.29 to $81.87 and the set could rally towards the mental mark of $100.

If it falls below $78.29, the bears will attempt to bring the LUNA/USDT rate set to the $20 EMA ($ 64). This assistance is necessary to keep track of as a strong rebound from it will show that traders are buying dips and belief remains positive.

Related: 27% of all coins flowing are managed by Bitcoin holders: Study

VAX/USDT

Avalanche (AVAX), bounced off strong assistance at $75.50 Dec. 14, and broke above the downtrendline Dec. 15. This suggests that bulls are attempting to reestablish the uptrend.

Daily chart of AVAX/USDT Source: TradingView

For the previous few days, Polkadot has traded below the 200-day SMA (28.82 USD) This indicates that the bears are in control. The sellers are attempting to decrease the price listed below the strong support location at $25 to $22.66.

The up-move has actually slowed from $119.69 Fibonacci retracement at 61.8%, which suggests that bears are selling rallies. Critical assistance has been reached at the $20 EMA ($ 99) for the AVAX/USDT pair.

If the cost recuperates from the existing level, the purchasers will try to resume the upward motion. It could open the way for a rally up to $131.70 and then to the record $147 if the cost breaks above $119.69.

If the price breaks below the 20-day EMA and continues to fall, the pair might drift towards the strong assistance at $75.50.

DOT/USDT

Daily chart of DOT/USDT Source: TradingView

DOGE/USDT

Dogecoin (DOGE), which had actually rebounded from the strong assistance at $0.15 Dec. 14, overlooked its 20-day EMA ($ 0.18), but the candlesticks long wick reveals that traders have actually cost higher levels.

If they can do so, the DOT/USDT pairing could continue its downward trajectory towards $16.81 as support. The higher chance of the sag continuing, the longer the rate stays listed below the 200-day SMA.

Contrary to what is being presumed, bulls will try to push the set greater than the 200-day SMA if the price bounces off the present zone. It will suggest that the bears have actually lost their grip. This could result in the pair increasing to $39.35.

Daily chart of DOGE/USDT Source: TradingView

If the cost increases above the 20 day EMA, this unfavorable view might be invalidated. If the price rises above the 20-day EMA, this unfavorable view will be invalidated. The cost fell listed below the 20-day EMA Dec. 15. If the assistance breaks, the rate might fall to $0.13 at the Dec. 4 level. If the cost rebounded from the present level, bulls will try to clear the overhead difficulty at $0.19 and the 20-day EMA.

The cost fell listed below the 20-day EMA Dec. 15. This could have trapped aggressive bulls, who might have been forced to sell their positions. This has pressed the rate to $0.15, the strong assistance.

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The cost might fall to $0.13 at the Dec. 4 level if the support breaks. If this assistance breaks, the psychological level of $0.10 could be reached. Bulls will attempt to clear the overhead hurdle at $0.19 and the 20-day EMA if the cost rebounded from the existing level.

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Jeannine Cruz– Earnings I am known as Jeannine Cruz, I am a writer and an industrialist by profession. My age is 32 years. My aim is to gather the attention of the targeted audience without being boring and unexciting. I like to utilize the free time in writing my views and thoughts for my book lovers or readers. My most preferred articles are usually about finance and business; however, I have written various topics in my articles. I do not have a specific genre. I get very creative when I have to express myself, I often sing, write or draw to portray my feelings. When it comes to my free time or you can say ‘ME-TIME’, I love to play with my cat, sleep an extra hour, or play my favorite video games.

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