The year is coming to an end, and Bitcoin (BTC) bulls are trying to start a Santa Claus rally by pushing the price back above the psychological level of $100,000. However, the bears are still in control, and it’s uncertain whether this attempt will be successful.
Market Analysis
The BTC/USDT chart shows that the price has been stuck in a range-bound action for some time, with prices oscillating between $90,000 and $100,000. The moving averages have completed a bearish crossover, indicating a downtrend.
Top 10 Cryptocurrencies by Market Cap
- Bitcoin (BTC): Currently trading at $95,000
- Ethereum (ETH): Currently trading at $5,500
- Tether (USDT): Currently trading at $1
- USD Coin (USDC): Currently trading at $1
- Binance Coin (BNB): Currently trading at $450
- Cardano (ADA): Currently trading at $0.90
- Dogecoin (DOGE): Currently trading at $0.30
- Polkadot (DOT): Currently trading at $25
- Chainlink (LINK): Currently trading at $24
- Avalanche (AVAX): Currently trading at $40
Cryptocurrency Price Analysis
Bitcoin (BTC)
- The price has been stuck in a range-bound action for some time, with prices oscillating between $90,000 and $100,000.
- The moving averages have completed a bearish crossover, indicating a downtrend.
Ethereum (ETH)
- Currently trading at $5,500
- The price has been stable over the past few days, with a slight increase in buying pressure.
Cardano (ADA)
- Staying below the neckline of the head-and-shoulders pattern, but the bears are struggling to pull the price below $0.80.
- Suggests that the bears have not given up and are buying the dips.
Dogecoin (DOGE)
- Trying to start a recovery, but the bounce lacks strength.
- Moving averages have completed a bearish crossover, and the RSI remains in the negative territory, indicating advantage to sellers.
Avalanche (AVAX)
- Attempting to start a recovery, which is expected to face stiff resistance at the moving averages.
- If the price turns down from the moving averages, it will suggest a negative sentiment.
Conclusion
The cryptocurrency market is unpredictable, and any predictions or forecasts are subject to change. It’s essential for investors and traders to conduct their own research and make informed decisions based on their individual risk tolerance and investment goals.
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Disclaimer
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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