Market Analysis: $SOL , $BNB , $Dogecoin, and $ADA

Solana (SOL) Price Analysis

Solana is correcting within a descending channel, indicating selling pressure on rallies. The SOL/USDT pair bounced off the support line, showing strong buying on dips. The relief rally may face resistance at the 20-day EMA ($229) and the channel’s resistance line. A breakout above the channel could push the price to $248 and $264.

BNB Price Analysis

BNB fell below the breakout level of $722 and the 20-day EMA ($682) on Dec. 9, indicating profit booking by bulls. The BNB/USDT pair rebounded off the 50-day SMA ($631) and rose above the 20-day EMA. Bulls aim to push the price to $722, where bears may defend strongly. The 20-day EMA and RSI suggest range-bound action between $722 and $635.

Dogecoin (DOGE) Price Analysis

Dogecoin broke below the ascending channel’s support line on Dec. 10, but bears struggle to keep it down. Bulls are trying to push the price back into the channel, potentially rising to $0.42 and $0.48. A drop below $0.36 could lead to a fall to the 50-day SMA ($0.31).

Cardano ($ADA) Price Analysis

Cardano’s selling accelerated after falling below $1.11 on Dec. 9. The ADA/USDT pair bounced off $0.91 on Dec. 10, with resistance expected at $1.16. A break above $1.16 could lead to $1.24 and $1.33, while a drop below $0.90 would favor bears.