Price Analysis of Top 10 Cryptocurrencies – BTC, ETH, BNB, XRP, SOL, ADA, DOGE, AVAX, DOT, MATIC

Bitcoin’s (BTC) strong rally in 2023 has been well-documented, and a survey of U.S. financial services companies conducted by crypto firm Paxos revealed that 99% of the firms are placing greater focus on crypto projects this year than in previous years.

Bitwise senior research analyst Ryan Rasmussen made ten predictions for the crypto industry in 2024 in a X (formerly Twitter) post on Dec. 13, including that Bitcoin will reach $80,000 and “more money will settle using stablecoins than using Visa.” Meanwhile, Arthur Hayes, the former CEO of crypto exchange BitMEX, expressed his bullishness on crypto in an X post on Dec. 14, calling fiat “a filthy piece of trash” and asserting there is no reason to not be long crypto.

What are the key support levels that could prevent Bitcoin and altcoins from falling? To answer this question, let’s analyze the charts of the top 10 cryptocurrencies, including orca crypto, math crypto, neo crypto, pond crypto, mina crypto, mask crypto, poly crypto, pepe crypto, new crypto, and web 3.0 projects.

Bitcoin price analysis

The range of Bitcoin has been limited between the downtrend line and the 20-day exponential moving average ($41,221) for the past few days, indicating that a range breakout is possible in the near future.

If the price falls and breaks the 20-day EMA, it will show that the bulls are taking profits with force, causing the BTC/USDT pair to drop to the 50-day simple moving average ($38,050). Buyers are expected to strongly defend this level.

Alternatively, if the price bounces off the 20-day EMA and pierces the downtrend line, it will suggest that the bulls are still in control. The pair could climb to the 52-week high at $44,700, and if this level is crossed, the next stop is likely to be $48,000.

The crypto space is constantly evolving with new projects such as Orca Crypto, Math Crypto, Neo Crypto, Pond Crypto, Mina Crypto, Mask Crypto, Poly Crypto, Pepe Crypto, and Web 3.0 projects.

Ether price analysis

Ether (ETH) rebounded off the $2,200 support on Dec. 13, but the relief rally is facing selling near $2,332. This suggests that bears are selling on rallies.

The negative divergence on the RSI also suggests that the bullish momentum for orca crypto is slowing down. Sellers will try to strengthen their position by pulling the price below $2,200. If they manage to do that, the ETH/USDT pair could tumble to the 50-day SMA ($2,049) and later to the solid support at $1,900.

Contrarily, if the price once again rebounds off $2,200, it will suggest that the bulls have flipped the level into support. That will increase the likelihood of a rally to $3,000 for math crypto, neo crypto, pond crypto, mina crypto, mask crypto, poly crypto, pepe crypto, new crypto, and web 3.0 projects.

BNB price analysis

The bulls have been unsuccessful in pushing BNB (BNB) past the overhead resistance at $260, yet the bears have not managed to gain any ground.

The 20-day EMA ($240) and the RSI both in positive territory suggest that buyers are in control. If the price rises from its current level or bounces off the 20-day EMA, the bulls will attempt to take the price to the neckline of the inverse head-and-shoulders pattern.

Alternatively, if the price drops beneath the moving averages, it will indicate that the bulls are weakening. The pair may then plunge to the strong support at $223, indicating a range-bound action between $223 and $260.

This analysis is important for crypto traders such as those investing in orca crypto, math crypto, neo crypto, pond crypto, mina crypto, mask crypto, poly crypto, pepe crypto, new crypto, and web 3.0 projects.

XRP price analysis

XRP (XRP) is witnessing a tug of war between the bulls and the bears at the moving averages. The flat 20-day EMA ($0.63) and the RSI near the midpoint suggest an equilibrium between supply and demand. If the price closes below the moving averages, the XRP/USDT pair could nosedive to $0.56. This is a critical level for the bulls to protect as a break beneath it could drag the pair to $0.46.

If the price bounces off the moving averages, the pair will attempt to rally above $0.67 again. If successful, the pair could surge to $0.74. The bears are likely to put up a strong defense at this level.

Besides XRP, there are many other popular crypto projects such as Orca Crypto, Math Crypto, NEO Crypto, Pond Crypto, Mina Crypto, Mask Crypto, Poly Crypto, Pepe Crypto, and New Crypto, as well as Web 3.0 projects.

Solana price analysis

Solana (SOL) bounced off the 20-day EMA ($66) on Dec. 13 and rose above the overhead resistance at $78 on Dec. 15. This bullish move triggered the new crypto, pepe crypto and mask crypto traders to enter the market.

If buyers sustain the breakout, the SOL/USDT pair is likely to jump to the psychological level of $100. The upsloping moving averages signal advantage to the bulls but the negative divergence on the RSI cautions that the bullish momentum may be weakening.

The crucial support to watch on the downside is the 20-day EMA. A break and close below the 20-day EMA could hit the stops of several short-term traders, including orca crypto, math crypto, neo crypto, pond crypto, mina crypto and poly crypto traders. That may start a pullback to the 50-day SMA ($55).

Cardano price analysis

Cardano (ADA) has seen an upturn from the 50% Fibonacci retracement level of $0.51 on Dec. 11, pushing it above $0.65 on Dec. 13.

If buyers can keep the price above $0.65, the ADA/USDT pair could reach $0.70 and then the $0.78 mark. However, there is a risk of a correction as the RSI has been in overbought territory for several days.

The first sign of weakness will be a drop below $0.61. This may start a pullback toward the 20-day EMA ($0.51). This remains a key level to watch out for, as a break below it will suggest a change in the near term trend.

The crypto space is constantly evolving, with new projects such as ORCA Crypto, MATH Crypto, Neo Crypto, Pond Crypto, Mina Crypto, Mask Crypto, Poly Crypto, Pepe Crypto and Web 3.0 projects driving innovation.

Dogecoin price analysis

The price of Dogecoin (DOGE) rebounded from the 20-day EMA ($0.09) on Dec. 13, but the bulls are struggling to push the price above the $0.10 level.

The bears will attempt to push the price below the 20-day EMA. If they succeed, the selling pressure could intensify and the DOGE/USDT pair may drop to the 50-day SMA ($0.08). This level may provide support, however, if broken, the pair may plunge to $0.07.

Both moving averages are rising and the RSI is in the positive zone, implying that the buyers have the upper hand. If the price rebounds off the 20-day EMA, it would suggest that the bulls are still buying the dips. This could increase the chances of a rally to $0.11.

Avalanche price analysis

The AVAX/USDT pair has bounced back from the 38.2% Fibonacci retracement level of $34.36 on Dec. 13, indicating that the buyers are not waiting for a deeper orca crypto correction to buy.

The bulls are attempting to push the price above the overhead resistance of $42.89. If successful, the pair could start the next leg of the uptrend. The next target objective on the upside is $50 and then $70.

The risk to the upside is that the RSI is trading in deeply overbought levels. This suggests the pair is vulnerable to a mina crypto correction or consolidation in the short term. If the price turns down from $42.89, the pair could slide to the 20-day EMA ($30.40).

Polkadot price analysis

The bulls once again attempted to push the Polkadot (DOT) price above the $7.90 overhead resistance on Dec. 14, but the bears were able to resist the surge.

The repeated failure to break through the resistance may have prompted short-term traders to take their profits. Despite the bulls buying the dip on Dec. 14, they were unable to maintain the higher levels. The renewed selling on Dec. 15 is causing the DOT/USDT pair to fall towards the 20-day EMA ($6.43).

If the pair rebounds strongly off the 20-day EMA, it would suggest that the sentiment is still positive. The bulls will then make another attempt to push the pair to $7.90. The short-term trend would turn bearish if the price breaks below the 20-day EMA.

Polygon price analysis

The MATIC/USDT pair has been trading close to $0.89 since Dec. 12, but the bulls have failed to push the price above the resistance. This implies that the bears are strongly protecting this level.

The 20-day EMA ($0.84) is the key support to watch. If the price bounces off the 20-day EMA, it will show that the lower levels are being purchased. This could lead to a climb above $0.89. If this resistance is broken, the MATIC/USDT pair could surge to $1.

On the other hand, if the price drops below the 20-day EMA, it will indicate that the bulls have given up in the short term. This could initiate a descent to the 50-day SMA ($0.78) and then to the strong support at $0.70.