Price Prediction 12/30: BTC, ETH, BNB, XRP, SOL, DOGE, ADA

ADA is experiencing another massive selloff on Monday, sending prices to new lows. It had had a good start to the day but retraced as the bulls failed to sustain the uptick.

ADA is still declining at the time of writing, as it has yet to find support. It remains to be seen how low it will go, given the market’s slightly bearish state.

Several assets showed a similar pattern: a slight price increase in the early hours of the day, then shedding it a few hours later. As a result, the global cryptocurrency market cap has shown no notable change since the start of the day.

Nonetheless, another option expiry occurred a few hours ago. Several top assets are seeing significant increases at the time of writing. There are other similar expiries lined up for the rest of the year, and prices may become slightly more volatile.

However, there will be no strong breakouts within the next 48 hours. A look at the global cryptocurrency market cap shows the sector has been rangebound for almost two weeks. It maintained the trend amid the massive option expirations last week; the incoming may be no different.

Let’s see how assets in the top 10 will perform in the coming days.

BTC/USD

Bitcoin is currently green, trading almost 2% higher than its opening price. It tested the $90k resistance a few minutes ago but retraced due to selling congestion. Currently trading at $88,200, the bulls are looking to halt the decline.

However, the 4-hour chart suggests the asset will not decisively break the $90k resistance over the next two days for several reasons. One such is the waning upward momentum. The image above shows that the apex coin has been on the rise since the start of the day, but the latest candle, while being the longest, has an extended wick.

The candlestick confirms the growing bearish sentiment among traders, which may see the asset shed the gains it had accumulated, as it did on Monday.

Additionally, BTC edged closer to testing bollinger’s upper band. Previous price movement indicates that several upticks ended at this level.

ETH/USD

Ethereum prints a green candle on the 1-day chart. It edged closer to the previous day’s high but failed to break it. Nonetheless, it is up by almost 2% and may mark the first green of the week.

However, a close at the current price would have little to no effect on price action in the coming days, as the asset will most likely remain rangebound over the next two days.

The altcoin has traded below $3,100 for almost 2 weeks now. ETH’s rejection at $3,050 on Monday reaffirmed the sell wall. To decisively break it, the bulls must flip $2,990 (a tough short-term resistance) and accumulate above it for an extended period. The 4-hour chart shows no strong buildup for a breakout.

Nonetheless, the bollinger bands indicate that the asset will retrace a little more. Following its recent attempt at the upper band, it may drop to the lower band at $2,890. However, there’s notable demand concentration at $2,910.

BNB/USD

BNB has erased all the losses it incurred on Monday. It is currently trading at $862 and may be gearing up for a major breakout on the 1-day scale.

However, the bid for a significant breakout in the coming days may meet stiff resistance. On the 4-hour chart, the asset is approaching a key barrier: the $870 resistance. The chart shows that selling congestion at this level is significant, and a flip may not happen this week.

Nonetheless, the bollinger bands suggest that the asset must keep trading above $850 to maintain its recent upward trend. Losing the mark will see BNB drop below the middle band. It may retest $835 as a result.

XRP/USD

XRP had another significant hike on Monday, breaking above its consolidation channel. The uptick was short-lived as it retraced, ending the session with slight losses.

The asset is experiencing a small increase in buying pressure. As a result, it prints a green candle on the 1-day chart, indicating a slight price improvement.

Nonetheless, the 4-hour chart shows that the asset rebounded at $1.83 earlier, ending Monday’s decline. It has since broken above Bollinger’s SMA, hinting at an impending retest of the previous day’s high. However, a breakout is not guaranteed.

SOL/USD

Solana had a similar movement to other cryptocurrencies. Like ADA, it experienced a slight increase on Monday but retraced after testing its fourteen-day high. It rebounded on Tuesday and is currently up by 2%.

The 4-hour chart shows that SOL has maintained its upward trajectory since it rebounded and has not printed a red candle since the start of the day. It also broke above bollinger’s middle band a few hours ago.

Additionally, the moving average convergence divergence recently flipped bullish. All these factors suggest that the altcoin may be heading for Monday’s high. However, a breakout is not guaranteed. Price will retrace afterward.

DOGE/USD

A recent analysis noted that Dogecoin may remain rangebound for most of the week, but a breakout could occur on the 1-day chart. On Monday, it tested the resistance of the triangle it traded within but failed to flip it.

The failure suggests the predicted consolidation may last the next two days, as the coin currently shows no strong buildups. The 4-hour chart reaffirms this assertion as the bollinger bands contract in response to dwindling volatility.

Paying close attention to the BB suggests that DOGE may not break out above $0.12 during the highlighted period.

ADA/USD

Following its 4% decline on Monday, ADA retraced slightly on Tuesday before rebounding. However, it prints a doji on the 1-day scale after minute buyback at its short-term support.

On the 4-hour chart, ADA is consolidating and has made no strong moves towards a breakout. However, previous price movements suggest it may surge over the next two days if the bulls continue to defend the $0.346 support.

In the event of further buybacks, the coin will retest the previous day’s high. However, it may drop below $0.34 if the highlighted support fails.

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