SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, AVAX

Bitcoin (BTC) started the last week of the year on a soft note the last week, indicating that the bulls do not hurry to buy the dive. Analysts are divided on the action of short -term Bitcoin prices. Some expect a solid rally leading to the inauguration of the elected president of the United States Donald Trump in January, while others provide that volatility increases. The co-founder of Bitmex, Arthur Hayes, expressed an opinion against the tide in his blog article on December 17, where he declared that the markets are likely to attend a “painful discharge” around the day of the inauguration of Trump.

While short -term merchants can wait for uncertainty to be erased before buying, Microstrategy continued its Bitcoin purchasing frenzy for the eighth successive week. The commercial information company announced the purchase of 2,138 bitcoin between December 23 and December 29 at an average price of around $ 97,837.

Bitcoin’s historical performances in January were a mixed bag, the average increase being a meager 3.35%, according to Corglass data. However, a positive sign is that over the past five years, Bitcoin has only closed red once in 2022 when it fell by 16.68%.

What are the crucial support levels to watch in Bitcoin and Altcoins? Let’s analyze the graphics to discover it.

Price analysis of the S&P 500 index

The S&P 500 index (SPX) exceeded the 20 -day exponential mobile average (5,983) on December 24, but the Bulls could not maintain higher levels.

The Bears withdrew the price below the 20 -day EMA on December 27 and extended the drop below the simple 50 -day mobile average (5,941) on December 30. Buyers should defend the level of 5853 with vigor-vigator, because if the level is broken down, the index will end a head and lower (H&S) pattern. This configuration has a target target of 5,606.

Buyers will have to push and maintain the price above the 20-day EMA to take control. The index can then climb to 6,050.

Price analysis of the US dollar index

The US dollar index (DXY) attends a difficult battle between the Bulls and the Bears near level 108.

The moving averages from the top and the RSI on the positive territory indicate the advantage to buyers. If the price exceeds 108.55, the index will try a gathering at 111.

The critical support to be monitored on the decline is the 20 -day EMA (107). If the price bounces from the 20 -day EMA, the Bulls will again try to generate the index greater than 108.55.

On the other hand, a break and a closure below the 20 -day EMA will suggest that the Bulls have abandoned and reserve profits. This increases the risk of withdrawal to 105.

Bitcoin price analysis

Bitcoin attends the reservation of profits by certain traders, increasing the possibility of a drop in solid support to $ 90,000.

The mobile averages are on the verge of a lower crossover, and the relative resistance index (RSI) is on the negative territory, indicating that the bears are trying to return. If buyers want to prevent a drawback, they will have to fiercely defend the area from $ 85,000 to $ 90,000. If they do this, the BTC / USDT pair can spend time in a wide range.

On the contrary, a break below $ 85,000 could try several traders to reserve profits. This could flow the pair at $ 73,777.

Ether price analysis

Ether (ETH) oscillates in a wide range between $ 2,850 and $ 4,094 for several days.

Bulls are trying to start recovery from the upward trend line, but will have to face a rigid resistance to the 20 -day EMA ($ 3,494). If the price drops sharply compared to the 20 -day EMA, the ETH / USDT pair could dive below the upward trend line. This could attract the pair to the $ 3,000 to $ 2,850 area.

Buyers will have to drive and maintain the price above the 20-day EMA to invalidate the bearish view. The pair can then reach $ 4,094.

XRP price analysis

XRP (XRP) fell on the support line of the symmetrical triangle pattern, where the bulls are likely to intervene.

If the price bounces from the support line and exceeds 20 days EMA ($ 2.19), it will point out that the XRP / USDT pair can remain inside the triangle for a few more days.

On the contrary, a break and a closure below the triangle suggests that the pair could have exceeded in the short term. There is a 50 -day SMA support ($ 1.89), but if it is cracking, the pair can slide at $ 1.63.

The Bulls will be back in the driver’s seat if they push and maintain the price above the resistance line.

BNB price analysis

BNB (BNB) was negotiated between the 20 -day EMA ($ 692) and the resistance of general costs of $ 722 for a few days, indicating a difficult battle between buyers and sellers.

If the price closes below the 20 -day EMA, this suggests that the Bulls have abandoned. This will bring into play the wide range of $ 685 to $ 722. Buyers should fiercely defend the level of $ 635, because a break below can start a deeper correction.

Alternatively, if the BNB / USDT pair appears from the current level and exceeds $ 722, this will point out that the bulls have mastered the bears. This could start a move at $ 761 and later at $ 794.

Solana price analysis

Solana (soil) is in a hurry between the 20 -day EMA ($ 200) and the trendy line of the last days.

The 20 -day EMA broken down and the RSI on the negative territory indicate the advantage to the sellers. If the Bears draw the price below the upward trend line, the floor / USDT pair can decrease to $ 155 and later to $ 133.

Instead, if the price is revealed to the current level or the upward trend line and breaks above the 20-day EMA, it will indicate that the reduced sales pressure. The pair can then climb to the 50 -day SMA ($ 220).

In relation: Here is what happened in the crypto today

Dogecoin price analysis

Dogecoin (DOGE) managed to stay above $ 0.30 level, but Bulls have trouble piercing the EMA of 20 days ($ 0.34).

Failure to increase higher could bring another wave of sales by the Bears. If the level of $ 0.30 gives way, the DOGE / USDT pair can drop to the FIBONACCI retracement of 61.8% of $ 0.27 and possibly at $ 0.23.

This negative view will be invalidated in the short term if the bulls push the price above the 20-day EMA. The pair can then climb to the 50 -day SMA ($ 0.38), where sellers should set up a solid defense.

Cardano price analysis

Cardano (ADA) exchanged under the neckline of the H&S motif, indicating that the bears maintained their pressure.

The ADA / USDT pair could go to the support zone from $ 0.80 to $ 0.70, where Bulls should set up a solid defense. If the bears prevail and flow the price below the support area, the pair can collapse towards the model target of $ 0.50.

If buyers want to avoid the drawback, they will have to push and maintain the price greater than $ 1. If they manage to do so, several aggressive bears can be trapped, causing short pressure.

Avalanche price analysis

The lively removal and the failure to start a rebound suggest that Avalanche (Avx) could have completed in the short term.

The Bears will try to strengthen their position by pulling the price below $ 33.50. If they succeed, the sale could resume and the AVAX / USDT pair can drop to $ 32 and thereafter to $ 30.50.

Unlike this hypothesis, if the price turns out to be the current level and exceeds EMA 20 days ($ 40.55), this will suggest demand at lower levels. The pair can then go back to $ 42.50.