Price analysis 12/27: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, AVAX, LINK, TON

As a seasoned crypto enthusiast with over a decade of experience under my belt, I find myself constantly intrigued by the ever-evolving landscape of digital currencies. Today, let’s take a closer look at the latest price analysis for some popular coins, as presented in the text above.

On December 27th, Bitcoin (BTC) supporters attempted to initiate a recovery, but faced robust selling as the price climbed higher. A noteworthy point is that investors in U.S.-based Bitcoin exchange-traded funds (ETFs) have recommenced their purchases. In fact, these ETFs saw net inflows totaling $475.2 million on December 26th, following four consecutive days of outflows amounting to $1.52 billion, according to data from CoinGlass.

While some people are optimistic about Bitcoin, Chartered Market Technician Aksel Kibar expressed skepticism in a post on X. He suggested that Bitcoin may be forming a bearish head-and-shoulders (H&S) pattern, and if this pattern concludes, a drop to around $80,000 could occur.

In the face of Bitcoin’s sluggish performance, some financial experts are leaning towards altcoins. They think that altcoins present a more appealing risk-versus-reward scenario compared to Bitcoin at its current price point. These analysts predict that altcoins will surpass Bitcoin in terms of growth in 2025.

Looking for potential buying points on Bitcoin and other altcoins, let’s examine the graphs of the leading 10 cryptocurrencies to determine the support levels that might spark interest in purchasing.

Bitcoin price analysis

The price of Bitcoin has dropped beneath its 50-day simple moving average ($95,406), which suggests that the sellers may be starting to take control.

If the closing price falls below the 50-day Simple Moving Average (SMA), there’s a possibility that the BTC/USDT pair could significantly decrease towards the robust support at approximately $90,000. Strong buyers are likely to aggressively protect this $90,000 mark, as a breach of this level might lead to further decreases towards $85,000, and potentially even down to $73,777.

From a positive perspective, if the bulls manage to drive and maintain the price beyond $100,000, they would gain control. After that, the pair might surge towards its record high of $108,353, at which point the bears may re-enter the market.

Ether price analysis

On December 25th, Ether (ETH) dipped below its 20-day Exponential Moving Average (EMA) at $3,540, and efforts to recuperate on December 27th were unsuccessful due to the bears’ resistance.

In simpler terms, the price of ETH when traded against USDT might drop to a significant short-term support level at approximately $3,200. If this level breaks down, it could lead to further decreases towards $3,000 and eventually $2,850. Traders are anticipated to strongly protect the range between $3,000 and $2,850.

To indicate a decrease in selling pressure, the bulls need to keep the price above the 20-day Exponential Moving Average (EMA) and potentially see the pair gaining speed beyond $3,555, heading towards the notable resistance at $4,094.

XRP price analysis

On December 26, XRP (XRP) finished its day trading below the 20-day Exponential Moving Average (EMA) at $2.23, indicating that it may be headed towards the support level.

For a while, it’s anticipated that the trading for XRP/USDT will take place within the boundaries of a symmetrical triangle pattern’s support and resistance lines. The flat 20-day Exponential Moving Average (EMA) and Relative Strength Index (RSI) close to the middle aren’t providing a strong edge, neither favoring the bullish nor the bearish side.

After the price surpasses either the triangle’s upper or lower boundary, it’s expected that a breakout will occur. If the resistance line is breached, the pair could potentially rise to $2.91. Conversely, if the support line is broken, it might indicate a short-term peak and the pair could drop down to $1.62.

BNB price analysis

On December 27th, BNB attempted to surpass the $722 resistance level that had previously been holding it back, but ultimately the sellers managed to maintain control.

Failing to surpass the $722 mark multiple times may lead to a potential fall below the 20-day Exponential Moving Average (EMA), currently at $689. Such a drop could cause the BNB/USDT pair to descend towards the 50-day SMA, which stands at $668. Further declines might be met by strong support at $635. This level is anticipated to prompt bullish activity, potentially keeping the pair within the range of $635 and $722 for a period.

If the price bounces back from the 20-day Exponential Moving Average (EMA), the bulls will once more strive to propel the pair beyond $722. Should they accomplish this, the pair could potentially climb to $760 and subsequently encounter the robust resistance at $794.

Solana price analysis

On December 25th, Solana (SOL) showed a decline from its 20-day Exponential Moving Average (EMA) at $203, suggesting that the current market feeling towards it is still somewhat pessimistic.

As a crypto investor, I’m keeping a close eye on the SOL/USDT pair. It seems poised to dip towards the uptrend line, a crucial level to monitor. If this support gives way, it could suggest that the bears are still dominating the market. In such a scenario, the pair might drop down to around $155, which could potentially entice new buyers.

If the price rebounds from its upward trendline and surpasses the 20-day Exponential Moving Average, this pessimistic outlook will be disproved in the short term. The pair could potentially mount a recovery towards the 50-day Simple Moving Average ($221).

Dogecoin price analysis

The recent surge in Dogecoin’s (DOGE) price didn’t manage to touch the 20-day Exponential Moving Average (EMA) of $0.35, suggesting that bears are offloading their coins whenever there’s a slight uptick.

At present, there’s a modest resistance around $0.30 for the DOGE/USDT pair. If this level is breached, the pair might fall to the 61.8% Fibonacci retracement level, which is approximately $0.27. Traders are expected to protect the price range of $0.27 to $0.23.

If purchasers aim to avert potential losses, they should strive to elevate and sustain the price beyond the moving averages. Doing so would indicate that the corrective phase might have concluded. Subsequently, the value could potentially rise towards $0.43.

Cardano price analysis

The upward surge in Cardano’s (ADA) price, which resembled a Head and Shoulders pattern, has reversed near the neckline, suggesting that the bears continue to hold onto their dominance.

In simpler terms, if the price of the bulls’ asset falls to around $0.80, they are expected to put up a strong fight to protect this level. If the price then bounces back from $0.80 and goes above its 20-day moving average ($0.96), it could indicate that the decline has ended. A jump above $1 might catch out the overly bearish investors, potentially leading to a quick rise towards $1.20 due to them buying back their short positions.

Instead, if the price falls further and dips below $0.76, this could indicate a continuation of the decline. The AVAX/USDT pair might then trend downward, possibly reaching the projected level of $0.50.

Avalanche price analysis

The advancement of Avalanche (AVAX) stalled near its moving averages, suggesting that bears are taking advantage of uptrends to sell off.

The declining 20-day Exponential Moving Average (EMA), currently at $42.11, along with the Relative Strength Index (RSI) being in the negative zone, suggests that bears are dominating the market. There are potential support levels at $35.50 and another one at $33.50. If these supports break, there’s a possibility of the AVAX/USDT pair experiencing a drop to $30.50.

Initially, if we observe a surge that pushes the price above the 20-day Exponential Moving Average (EMA), it could signal the beginning of a recovery. This potential increase might take us to approximately half way back, or around the 50% Fibonacci retracement level at $44.70. Further progress could then bring us closer to the 61.8% Fibonacci retracement level at $47.31.

Chainlink price analysis

On December 26, Chainlink (LINK) saw a drop and fell beneath the $23 resistance level, suggesting that the bearish forces continue to exert pressure.

As an analyst, I’ve observed a gradual downward shift in the 20-day Exponential Moving Average (EMA), currently at approximately $23.89. Additionally, the Relative Strength Index (RSI) hovers slightly below its midpoint, indicating a slight edge for the bears. Regarding the LINK/USDT pair, it appears poised to descend towards a robust support level around $20. I anticipate buyers will vigorously defend this level, as a break beneath it would finalize a Head and Shoulders (H&S) pattern. In such a scenario, the pair could potentially plummet to $16.

To reclaim control, buyers must keep driving the price upward and ensure it stays above $27.50. This action could trigger a surge that propels the price towards $31.

Toncoin price analysis

Toncoin’s (TON) recovery might be encountering resistance from sellers at its moving average points, suggesting that bears are selling at elevated prices.

The 20-day Exponential Moving Average (EMA) is nearly level with $5.84, and the Relative Strength Index (RSI) is slightly below its midpoint, suggesting an equilibrium between buying and selling forces. This makes it more likely that the market will exhibit limited price fluctuations or consolidation in the short term.

If the price of TON/USDT exceeds $6.10, it might surge towards $6.50 and even reach $7. However, sellers are likely to put up a tough resistance at $7. This could result in a prolonged struggle where the price fluctuates between $7 and the lower support level of $4.72 for a certain period.

2024-12-27 21:47