Price Analysis 12/27: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, AVAX, LINK, TON
Bitcoin's repeated failure to surpass the $100,000 level increases the risk of a drop below $90,000.
Bitcoin
Bitcoin
Low indicators
$94,585
Bulls tried to start a recovery on Dec. 27 but were met with strong selling at higher levels. On the upside, U.S.-based ETF investors resumed buying. ETFs saw net inflows of $475.2 million on Dec. 26 after four days of consistent outflows of $1.52 billion, according to CoinGlass data.
However, not everyone is bullish on Bitcoin. Certified market expert Axel Kibar said in a post on X that Bitcoin is forming a bearish head and shoulders pattern, and if the pattern is completed, it could drop to $80,000.
✅Daily overview of cryptocurrency market data. Source: Coin360
With Bitcoin stalling, some analysts seem to be leaning towards altcoins. They believe that altcoins offer a better risk-to-reward ratio than Bitcoin at its current levels. They predict that altcoins will outperform Bitcoin by 2025.
What support levels might attract buyers in Bitcoin and altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
Bitcoin Price Analysis
Bitcoin price has fallen below its 50-day simple moving average ($95,406), indicating that bears are trying to gain the upper hand.✅
BTC/USDT daily chart. Source: Cointelegraph/TradingView
If the price closes below the 50-day SMA, the BTC/USDT pair could drop to the strong support level at $90,000. Buyers are expected to defend the $90,000 level strongly because if the support breaks, the pair could drop to $85,000 and then to $73,777.
On the upside, bulls will have to push and hold the price above $100,000 to take control of the market. The pair could then rally to an all-time high of $108,353, where bears are expected to step in.
Ether price analysis
ether
Ethereum
Low indicators
$3,332.61
The price fell from its 20-day EMA ($3,540) on December 25, and bears thwarted an attempt to recover on December 27.
✅Daily chart of ETH/USDT. Source: Cointelegraph/TradingView
The ETH/USDT pair could drop to the immediate support level at $3,200. This is a crucial near-term support level to watch out for because if it breaks down, the pair could drop to $3,000 and eventually $2,850. Buyers are expected to defend the $3,000 to $2,850 area fiercely.
Bulls will have to push and sustain the price above the 20-day EMA to indicate that the selling pressure is waning. The pair is likely to gain momentum above $3,555 and rise towards the formidable resistance at $4,094.
XRP Price Analysis
Ripple currency
Ripple currency
Low indicators
$2.15
The stock closed below the 20-day EMA ($2.23) on December 26, indicating a potential decline to the support line. Daily chart of XRP/USDT.
Source: Cointelegraph/TradingView
The XRP/USDT pair is expected to trade between the support and resistance lines of the symmetrical triangle pattern for some time. The flat 20-day EMA and the RSI near the midpoint do not give a clear advantage to either bulls or bears.
The next directional move is likely to start after the price breaks above or below the triangle. A break above the resistance line could take the pair to $2.91, while a break below the support line would indicate that the pair may have peaked in the near term. The pair could then drop to $1.62.
BNB Price Analysis
BNP
BNP
Low indicators
$691.82
The stock tried to break out of the upper resistance level of $722 on December 27, but the bears held out.✅
BNB/USDT daily chart. Source: Cointelegraph/TradingView
Repeated failure to rise above $722 increases the likelihood of a break below the 20-day EMA ($689). If that happens, the BNB/USDT pair could slide to the 50-day EMA ($668) and then to the strong support at $635. This level is expected to attract buying from bulls, which could keep the pair confined to the $635-$722 range for a while.
If the price bounces off the 20-day EMA, the bulls will once again try to push the pair above $722. If they succeed, the pair could rally to $760 and then to the strong resistance at $794.
Solana Price Analysis
Solana
Civil
Low indicators
$185.20
The price fell below its 20-day EMA ($203) on December 25, indicating that sentiment remains negative.✅
SOL/USDT daily chart. Source: Cointelegraph/TradingView
The SOL/USDT pair may fall to the uptrend line, which is an important level to pay attention to. If the support breaks, it will indicate that the bears are still in control. The pair may drop to $155, which may attract buyers.
This negative view will be invalidated in the short term if the price bounces off the uptrend line and breaks above the 20-day EMA. The pair may then attempt to rally to the 50-day EMA ($221).
Dogecoin Price Analysis
Dogecoin
Dodge
Low indicators
$0.3126
The comfortable rally couldn’t even reach the 20-day EMA ($0.35), suggesting that bears are selling on every slight uptick.✅
DOGE/USDT daily chart. Source: Cointelegraph/TradingView
There is a slight support at the $0.30 level, but if this level breaks, DOGE/USDT could drop to the 61.8% Fibonacci retracement level at $0.27. Buyers are likely to defend the $0.27 to $0.23 area.
If buyers want to prevent the decline, they will have to push the price and keep it above the moving averages. If they do, it will indicate that the correction is probably over. The pair could then rise to $0.43.
