Price Prediction 12/26: BTC, ETH, BNB, XRP, SOL, DOGE, ADA

SOL had a sharp increase during the first half of Friday, quickly erasing the previous day’s losses. Thursday’s price action marked the fourth consecutive day of decline, and a green close to the current session would signal the end of the downtrend.

However, SOL is trading significantly below its high as investors take profits. The bulls are currently struggling to maintain the upward trend, with little success, as the asset has shed more than half its previous gains.

The trend with Solana affects almost every asset in the market. A look at the 1-day chart of the global cryptocurrency market cap shows a similar pattern. In this case, it prints a red candle after a slight hike earlier. A sweep through the top 100 shows that some altcoins are down by 4%, reversing their earlier gains.

The reason for the latest change is not far-fetched, as the entire market is reacting to Bitcoin. The apex coin had a significant options expiry earlier, and the price moved up to the max pain level, resulting in the earlier price increase. However, the bears took over after the expiry, leading to the trend reversal.

The last few days of the year may be less volatile as there are big events. Let’s see how assets in the top 10 will perform in the coming days.

BTC/USD

Bitcoin surged earlier, breaking above $89,000 for the first time since Monday, and peaking at $89,479. It faced rejection afterward, causing its upward momentum to wane as the bears staged selling congestion.

On the 4-hour chart, BTC continues trading within its tight channel. Nonetheless, it had a brief breakout, but it was not ultimately enough to shape a bullish structure. The coin is currently trading within the bollinger bands amid the reversal.

At the time of writing, it prints a green candle after testing the lower band. Based on the metric, the asset is due for further increases, which may start in the next 24 hours.

There’s no indication that the apex coin will decisively break above the bollinger bands within the next three days. Nonetheless, the moving average convergence/divergence indicates an increased likelihood of further decline. BTC may test $85k if this happens

ETH/USD

Ethereum is trading at $2,921, slightly above its opening price. However, the 1-day chart shows a candle with an extended wick, suggesting it peaked higher before losing momentum and retracing.

The asset edged closer to $3k but then faced significant selling pressure. It is on the verge of completely erasing all the gains the selloff worsens.

Nonetheless, indicators on the 4-hour chart suggest that the decline may be nearing its end. The bollinger band shows several instances when the asset rebounded off the lower band in the last seven days. It recently bounced off the line, and prices are relatively stable at the time of writing.

Additionally, previous price movements indicate that the asset is trading above a key level with demand concentration. The likelihood of a rebound from the current value is high considering these two metrics.

Nonetheless, the prospect of further price increases is not without hiccups as MACD is currently negative. It is close to having a bearish crossover.

BNB/USD

BNB had the same price movement as SOL, surging slightly above the previous day’s high but losing momentum afterward. It trades slightly above its opening price, and indicators suggest no further decline.

The coin recently retraced below the bollinger bands a few hours ago, retesting $820. It rebounded and is back in the band. While BB indicates further increases, it aligns with previous price movements.

The most recent attempt at $820 is the second such attempt in the last three weeks. During the first trial, the asset rebounded and shot up, testing $870. BNB may surge following its recent buyback.

XRP/USD

XRP is on the verge of ending its five-day decline following its recent hike. It retested the Wednesday high but faced rejection, resulting in further reversal.

The latest rejection marks the second this week. Its price action suggests a growing selling wall around $1.88 that may worsen if the asset retraces. Nonetheless, breaking the short-term barrier will expose the $1.90 resistance, a level that has previously served as strong support.

The bollinger bands indicate XRP may surge as it rebounds after slipping below it. However, the upper band is at $1.89, hinting at a slim chance of the altcoin decisively flipping the resistance in the next three days.

SOL/USD

SOL peaked at $125 a few hours ago but retraced. It is currently trading at $122 following its recent buyback at $120.

Previous price movements on the 4-hour chart indicate that the asset surged higher, with several declines halting at $120. Additionally, this is bollinger’s lower band, where several surges started. SOL may retest $125 again. However, a flip is not guaranteed as the bollinger band indicates a selloff afterward.

Nonetheless, the moving average convergence/divergence is currently positive, suggesting further gains.

DOGE/USD

DOGE was among the worst-hit coins during Friday’s large selloff. The 4-hour chart shows slight increases during the first half of the day.

However, price retraced in the session starting at 14:00 UTC, dropping by almost 4% as selling pressure peaked. The asset is struggling to pull back some of its losses before the day ends, but the likelihood of this happening is low.

Previous price movement shows that DOGE tested a level it rebounded off last Thursday. It surged after bouncing off the mark last week. A repeat of the event may happen in the coming days.

However, MACD remains negative, indicating a slim chance of further decline.

ADA/USD

On the 1-day chart, Cardano rebounded off a key level. The 4-hour chart shows that on Thursday, it briefly broke its 7-day low, indicating increased selling pressure.

Nonetheless, like SOL, it saw slight increases at the start of the day, but lost momentum afterward. A closer look at the chart reveals that the asset has been trading below bollinger’s lower band since the week began.

While the Bollinger bands suggest further increases in the coming days, it may not be significant, as the trend of trading below the SMA may continue. There’s also a high likelihood of further decline. 

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