The crypto market has taken a small step back today, declining by 0.31% to $1.61 trillion in terms of market cap.
Save for a few altcoins, the market looks mostly red as shown below:
This time around, neither bulls nor bears suffered relatively massive liquidations, according to data provided by Coinglass.
Coinglass data shows that the total liquidations over the last day amount to $167.67 million, with the bulls taking a relatively strong beating around $92 million, compared to the bears’ $75 million.
Bitcoin: Is This A New Lower High?
According to the charts, Bitcoin appears to be forming what looks like a lower high.
The cryptocurrency has spent the last three days or thereabout in a rally from its initial low of $40,222 on 11 December. On 12 December, Bitcoin began to rally again, seemingly for a retest of $45,000.
However, the cryptocurrency appears to be declining, and may now be forming a lower high, after failing to break above its previous high of $44,700.
Will Ethereum Retest $2,150?
Ethereum appears to be in a decline as well, just like Bitcoin. However, Ethereum's decline appears a lot more serious than Bitcoin's.
Ethereum’s decline appears likely to end in a retest of the $2,150 resistance. The bulls are expected to be waiting to defend this resistance zone. However, if the bears win, Ethereum may enter a devastating decline to $2,000 from here.
Can Solana Confirm Its Bullish Momentum?
Solana has had quite a prolonged dance with the $68 resistance level.
Solana rallied yesterday, seemingly in an attempt to retest the $75 resistance level. At the time of writing, Solana is currently testing this resistance and may be aiming for a breakout.
If the cryptocurrency is successful and it confirms $75 as resistance by closing above it with a daily candle, we may see it rally straight up to as high as $95.
ORDI Might Be Ready For +$68
According to the charts, ORDI’s latest rally played a key role in its price action.
ORDI has retested the $68 resistance and seems to be forming a double-top from here, as it retests $58. If the $58 support holds, we may see ORDI rebound from this level and retest a break above $68.
On the flip side, if $58 doesn’t hold, we may see the cryptocurrency retest $45 yet again.
Some Fun With FunToken ($FUN)
FunToken has spent the last week in a powerful 30% rally. Because of this rally, the cryptocurrency is the 2nd best gainer on Binance with an average price of $0.01.
According to the charts, FUN has broken above the $0.0095 resistance and is aiming for a close above $0.01 today, after hitting $0.012 on 13 December. If FUN behaves as intended, we can expect a further 30% rally in a possible rally to $0.0135
