Ethereum

NEAR Protocol

Bitcoin

Crypto Price Prediction: The cryptocurrency market has recently seen a surge of bullish activity, primarily influenced by positive market sentiments in anticipation of the U.S. Securities and Exchange Commission’s (SEC) impending decision on <a href="https://coingape.com/spot-bitcoin-etf-approvals-to-begin-by-end-of-2023/" rel="noopener noreferrer nofollow">spot Bitcoin ETFs</a>. With this small trigger the second largest cryptocurrency Ethereum, and fellow altcoins Near Protocol(NEAR), and Sei(SEI) showed a notable upswing this week.
The total market capitalization of the global cryptocurrency market is currently valued at $1.66 trillion, experiencing a slight decrease of 0.39% over the past day. In contrast, the total trading volume in the crypto market has seen a significant increase, rising by 12.04% over the last 24 hours, reaching a total of $87.22 billion
Also Read: <a href="https://coingape.com/here-why-bitcoin-jumps-160-ytd-despite-multiple-setbacks/" rel="noopener noreferrer nofollow">Here’s Why Bitcoin Jumps 160% YTD Despite Multiple Setbacks</a>
<h2 id="b-ethereum-price-analysis-fake-breakdown-hints-12-upswing-ahead-b">Ethereum Price Analysis: Fake Breakdown Hints 12% Upswing Ahead</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/7/7iOTvc6J.png" alt="Ethereum Price Analysis" width="1946" height="893">
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 Ethereum Price Analysis| TradingView Chart
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Over the past ten weeks, the <a href="https://coingape.com/price/ethereum/" rel="noopener noreferrer nofollow">Ethereum(ETH) price</a> has demonstrated a notable recovery, largely guided by a well-defined rising channel pattern. This pattern’s lower trendline has consistently provided crucial support, encouraging buyers and extending Ether’s upward trajectory.&nbsp;
On December 19th, the ETH price broke below the pattern’s lower trendline, signaling a potential correction in an uptrend. However, with the newfound demand pressure at $2100, the <a href="https://coingape.com/markets/ethereum-price-prediction-as-bear-trap-points-to-10-surge/" rel="noopener noreferrer nofollow">buyers gave a counterattack</a> to re-enter the channel pattern. On December 22nd, the coin price reclaimed the lost support, bolstering buyers for a 12% recovery to hit $2500.
The upswing in the lower boundary of the Bollinger band indicator shows the bullish momentum is active.
<h2 id="b-near-protocol-price-analysis-is-near-price-heading-back-to-2-2-b">NEAR Protocol Price Analysis: Is $NEAR Price Heading Back to $2.2</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/x/xSW5SbZL.png" alt="NEAR Protocol Price Analysis" width="1946" height="893">
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 NEAR Protocol Price Analysis| TradingView Chart
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In late October, the <a href="https://coingape.com/price/near-protocol/" rel="noopener noreferrer nofollow">Near Protocol coin price</a> entered a robust recovery phase, rebounding sharply from the $0.971 level. This resurgence was fueled by a general bullish sentiment in the market and strengthened by significant partnerships formed in early November. As a result, this altcoin experienced a remarkable surge, approximately 293%, reaching a 15-month peak at $3.8.
During this bullish rally, the coin’s price successfully overcame the previous swing high of $2.76, signaling a pivotal shift according to Dow Theory from a downtrend to a <a href="https://coingape.com/markets/near-protocol-price-prediction-eyes-5-amidst-open-interest-boom/" rel="noopener noreferrer nofollow">potential new uptrend</a>. However, a notable challenge emerged as buyers struggled to maintain momentum above the $3.43 resistance level.&nbsp;
This suggests that the ongoing rally might require another correction to regain and reinforce bullish momentum. A decline below $3.43 could lead to a 16.75% fall, potentially bringing the price down to retest an ascending trendline coinciding with $2.76.
The midline of Bollinger band indicators continues to act as dynamic support to rising prices.
<h2 id="b-sei-price-analysis-sei-offer-dip-opportunity-before-the-next-leap-b">SEI Price Analysis: $SEI Offer Dip Opportunity Before the Next Leap</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/b/bhY7vhUa.png" alt="SEI Price Analysis" width="1946" height="893">
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 SEI Price Analysis| TradingView Chart
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Defying the general sentiment of uncertainty in the market, the <a href="https://coingape.com/sei-v2-upgrade-boosts-sei-token-rally-to-all-time-high/" rel="noopener noreferrer nofollow">SEI token price</a> shows a strong rebound from the 0.22 support. Within a week, the coin price surged 89% to reach a new all high of $0.418.&nbsp;
However, in the mid-week, the coin price witnessed renewed supply pressure as the short-term traders must have exited early. Following long-wick rejection candles, the SEI price tumbled 13%, teasing a new correction. Interestingly, the coin has shown some similar pullbacks obtained suitable support at 38.2% and 50% <a href="https://coingape.com/glossary/fibonacci-retracement/" rel="noopener noreferrer nofollow">Fibonacci retracement levels</a>.&nbsp;
Thus, the possible pullback can witness sufficient demand pressure at $0.34, $0.3, and $0.26, coinciding with the crucial support of the FIB tool. This pullback could recuperate the exhausted bullish momentum and resume the recovery trend. The rising 20-and-50-day EMA continues to act as a strong pullback support.
The post <a href="https://coingape.com/markets/crypto-price-prediction-today-december-23-eth-near-sei/" rel="noopener noreferrer nofollow">Crypto Price Prediction For December 23: ETH, NEAR, SEI&nbsp;</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Crypto Price Prediction For December 23: ETH, NEAR, SEI

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