A bearish chart pattern signals potential downward pressure for Bitcoin, which could test levels below $80,000. Meanwhile, cryptocurrencies such as BNB, AAVE, XMR, and VIRTUAL show promising signs of strength. Here is a detailed analysis of the trends, support levels, and possible outcomes.

Key Highlights:

  • Bitcoin (BTC) struggles below key resistance levels, forming bearish patterns.

  • BNB demonstrates stability within a range, with potential for bullish momentum.

  • AAVE trades near critical support, with a symmetrical triangle hinting at future moves.

  • Monero (XMR) forms an ascending triangle, indicating possible upward momentum.

  • VIRTUAL Protocol continues its uptrend but shows early signs of slowing momentum.

Bitcoin Price Analysis

Bitcoin (BTC) failed to sustain recovery attempts this week, signaling robust selling pressure from bears at higher levels. Despite buyers being unable to push the price above the psychological $100,000 mark, bulls remain steadfast, anticipating another potential rally.

Key Levels:

  • Resistance: $100,000 and $108,353

  • Support: $90,000 and $85,000

On Dec. 27, Bitcoin closed below the 50-day Simple Moving Average (SMA) of $96,124, indicating weakening bullish control. Attempts to reclaim this level on Dec. 28 were thwarted, with the 20-day Exponential Moving Average (EMA) turning downward and the Relative Strength Index (RSI) dipping into bearish territory.

A slide to the $90,000 support is likely, where bulls may mount a defense. A rebound from this level and a push above the moving averages could signal renewed bullish momentum, with targets at $100,000 and $108,353. Conversely, a head-and-shoulders pattern on the 4-hour chart suggests a potential decline to $76,647 if the neckline breaks.

BNB Price Analysis

BNB has been consolidating between $635 and $722, reflecting a balance between supply and demand. Bulls have managed to keep the price above the 20-day EMA at $694, indicating sustained buying interest.

Key Levels:

  • Resistance: $722 and $794

  • Support: $680 and $635

A decisive break above $722 could propel the BNB/USDT pair to $760 and later to $794. However, failure to maintain this level could see the price revisit $635. On the 4-hour chart, the $740 level remains critical, with a break above it potentially initiating a rally.

AAVE Token Price Analysis

AAVE has been battling near the 20-day EMA of $329, with bulls striving to retain their edge. While the upward slope of the 20-day EMA suggests bullish control, the RSI near the midpoint indicates weakening momentum.

Key Levels:

  • Resistance: $362 and $400

  • Support: $261

A break above $362 could lead to a retest of the $400 mark, a key resistance level. The symmetrical triangle forming on the 4-hour chart suggests indecision. A breakout above the triangle could signal the resumption of an uptrend, while a breakdown might lead to a decline toward $261.

Monero (XMR) Price Analysis

Monero has been attempting to recover but faces stiff resistance at $203. The flattish 20-day EMA and RSI near the midpoint indicate a balanced market.

Key Levels:

  • Resistance: $203 and $234

  • Support: $180

A bullish ascending triangle pattern on the 4-hour chart could trigger a rally toward $228 if $203 is breached. However, a breakdown below $180 could invalidate the bullish setup and initiate a downward spiral.

Virtuals Protocol (VIRTUAL) Price Analysis

VIRTUAL has resumed its uptrend after breaking the critical resistance at $3.33. While the 20-day EMA at $2.71 remains upward-sloping, negative RSI divergence signals caution.

Key Levels:

  • Resistance: $4 and $4.79

  • Support: $3.33 and $2

A sustained move above $3.33 could see the pair rally toward $4. On the downside, a break below the 20-day EMA might lead to a deeper correction, with $2 as a crucial support level.

Conclusion

Bitcoin’s bearish chart pattern hints at a potential slide below $80,000, but critical support levels might provide relief. Meanwhile, BNB, AAVE, XMR, and VIRTUAL exhibit resilience, with possible bullish setups forming on their respective charts. Traders should remain vigilant, as market sentiment could shift rapidly.

Note: This is not financial advice. Before making any investment decisions, conduct thorough market research and consult a professional if necessary.


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