Bitcoin

Dogecoin

Avalanche

Daily

<div class="fintechs">
 <div class="wp-block-image">
  <figure class="aligncenter size-full"><img decoding="async" width="640" height="360" src="https://cdn.thebittimes.com/images/2023/12/28/e413dcd5efd995d79eb0c669e4fe4bdd.webp" alt="" class="wp-image-43460" srcset="https://cdn.thebittimes.com/images/2023/12/28/18fe5f4d6cacfca51112ae075edfef9f.webp 750w, https://cdn.thebittimes.com/images/2023/12/28/18fe5f4d6cacfca51112ae075edfef9f.webp 300w, https://cdn.thebittimes.com/images/2023/12/28/18fe5f4d6cacfca51112ae075edfef9f.webp 267w" sizes="(max-width: 640px) 100vw, 640px" data-recalc-dims="1">
  </figure>
 </div>
 <p class=""><strong>Bitcoin is currently displaying a bullish pattern, although it’s important to note that the RSI exhibits a negative divergence. This situation is creating mixed signals regarding Bitcoin’s short-term directional movement.</strong></p>
 <p class="">Bitcoin has retained its gains in early December, indicating a trend where buyers are stepping in during minor dips. According to CoinShares data, there was an influx of $87.6 million into Bitcoin funds for the week ending on December 22nd.</p>
 <p class="">Additionally, data from ETFGI, a research firm specialising in exchange-traded funds (ETFs), reveals that in November, there were inflows of $1.31 billion into cryptocurrency ETFs and exchange-traded products (ETPs). This brings the total inflows for the year to $1.60 billion.</p>
 <div class="wp-block-image">
  <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2023/12/28/56753ca863e846d280c0224988d4336e.webp" alt="" data-recalc-dims="1">
   <figcaption class="wp-element-caption"><em><strong><sub>Daily cryptocurrency market performance. Source:&nbsp;</sub></strong></em><strong><sub><em>Coin360</em></sub></strong>
   </figcaption>
  </figure>
 </div>
 <p class="">Investors seem to be accumulating Bitcoin before the anticipated approval of a spot Bitcoin ETF in January. Business Intelligence firm&nbsp;MicroStrategy added 14,620 Bitcoin&nbsp;to increase its total stockpile to 189,150. The latest acquisition was made at $42,110 per Bitcoin, taking its total average purchase price to about $31,168.</p>
 <p class="">Will Bitcoin and altcoins continue their northward journey in the last few days of the year? Let’s analyse the charts of the top 10 cryptocurrencies to find out.</p>
 <h2 class="wp-block-heading" id="bitcoin-btc-price-analysis">Bitcoin (BTC) price analysis</h2>
 <p class="">Bitcoin has been stuck between the 20-day exponential moving average ($42,513) and the overhead resistance at $44,700.</p>
 <div class="wp-block-image">
  <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2023/12/28/119724fbdaba0816d7221b1591e73486.webp" alt="" data-recalc-dims="1">
   <figcaption class="wp-element-caption"><em><strong><sub>BTC/USDT daily chart. Source:&nbsp;</sub></strong></em><strong><sub><em>TradingView</em></sub></strong>
   </figcaption>
  </figure>
 </div>
 <p class="">The price action of the past few days has formed an ascending triangle pattern that will complete on a break and close above $44,700. The BTC/USDT pair could then start the next leg of the uptrend toward the pattern target of $49,178.</p>
 <p class="">Contrarily, if the price turns down and breaks below the triangle, it will invalidate the positive setup. That may trigger the stops of several traders, pulling the cost to the 50-day simple moving average ($40,022) and later to $37,980.</p>
 <h2 class="wp-block-heading" id="ether-eth-price-analysis">Ether (ETH) price analysis</h2>
 <p class="">Ether&nbsp;<a target="_blank" rel="noreferrer noopener">had been trading inside a descending channel pattern for the past few days, but a positive sign is that the bulls did not allow the price to sustain below $2,200.</a></p><a target="_blank" rel="noreferrer noopener">
  <div class="wp-block-image">
   <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2023/12/28/e815d1c2f5ea7766ef97bea37f8c6679.webp" alt="" data-recalc-dims="1">
    <figcaption class="wp-element-caption"><em><strong><sub>ETH/USDT daily chart. Source:&nbsp;</sub></strong></em><strong><sub><em>TradingView</em></sub></strong>
    </figcaption>
   </figure>
  </div> <p class="">Solid buying on Dec. 27 propelled the price above the descending channel. If bulls maintain the price above the channel, the possibility of a break above $2,403 increases. The ETH/USDT pair could then ascend to $3,000.</p> <p class="">Conversely, if the price re-enters the channel, it will signal that higher levels continue to attract sellers. The break below $2,200 could sink the pair to the channel’s support line. This remains critical for the bulls to protect because a drop below the channel may start a deeper correction to $1,900 and then $1,750.</p> <h2 class="wp-block-heading" id="solana-sol-price-analysis">Solana (SOL) price analysis</h2> </a>
 <p class=""><a target="_blank" rel="noreferrer noopener">Solana&nbsp;</a><a target="_blank" rel="noreferrer noopener">has been in a strong uptrend for the past several days. The bulls quickly cleared the psychological resistance of $100 on Dec. 23 and pushed the price to $126 on Dec. 25.</a></p><a target="_blank" rel="noreferrer noopener">
  <div class="wp-block-image">
   <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2023/12/28/5497a758296462bde3a3a9c38f541736.webp" alt="" data-recalc-dims="1">
    <figcaption class="wp-element-caption"><em><strong><sub>SOL/USDT daily chart. Source:&nbsp;</sub></strong></em><strong><sub><em>TradingView</em></sub></strong>
    </figcaption>
   </figure>
  </div> <p class="">Profit booking started a pullback on Dec. 26, but the long tail on the day’s candlestick shows strong buying at the 38.2% Fibonacci retracement level of $103. The price was turned down on Dec. 27, indicating that the bears are in no mood to give up.</p> <p class="">If the price drops below $103, the SOL/USDT pair could decline to the 20-day EMA ($89), near the 61.8% Fibonacci retracement level. A break below the 20-day EMA will suggest a change in the short-term trend. The bulls will regain control if they catapult the price above $126.</p> <h2 class="wp-block-heading" id="bnb-price-analysis">BNB price analysis</h2> <p class="">BNB turned up from the 20-day EMA ($262) on Dec. 25 and soared above the neckline on Dec. 26, completing a bullish inverse head-and-shoulders pattern.</p>
  <div class="wp-block-image">
   <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2023/12/28/9320ee8d838ac80c81d833228ffed0e8.webp" alt="" data-recalc-dims="1">
    <figcaption class="wp-element-caption"><em><strong><sub>BNB/USDT daily chart. Source:&nbsp;</sub></strong></em><strong><sub><em>TradingView</em></sub></strong>
    </figcaption>
   </figure>
  </div> <p class="">The bears tried to pull the price down toward the neckline on Dec. 27, but the long tail on the candlestick shows aggressive buying on dips. Buyers will try to maintain the momentum and shove the price to the pattern target of $333 and eventually to $350.</p> <p class="">Meanwhile, the bears are likely to have other plans. They will try to stall the upmove near $317 and start a correction. Sellers must tug the BNB/USDT pair below the neckline to make a comeback.</p> <h2 class="wp-block-heading" id="xrp-price-analysis">XRP price analysis</h2> </a>
 <p class=""><a target="_blank" rel="noreferrer noopener">XRP&nbsp;</a><a target="_blank" rel="noreferrer noopener">has been range-bound between $0.56 and $0.67 for the past few days, signalling a balance between buyers and sellers.</a></p><a target="_blank" rel="noreferrer noopener">
  <div class="wp-block-image">
   <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2023/12/28/292c345e624d59d5864d1e41f80f566c.webp" alt="" data-recalc-dims="1">
    <figcaption class="wp-element-caption"><em><strong><sub>XRP/USDT daily chart. Source:&nbsp;</sub></strong></em><strong><sub><em>TradingView</em></sub></strong>
    </figcaption>
   </figure>
  </div> <p class="">Both moving averages have flattened out, and the RSI is near the midpoint, suggesting that the range-bound action may continue longer. The first sign of strength will be a break and close above $0.67. The XRP/USDT pair may rise to $0.74, where the bears are expected to mount a strong defence.</p> <p class="">On the downside, the bears must sink and keep the price below $0.56 to seize control. The pair could then slide to the solid support at $0.46.</p> <h2 class="wp-block-heading" id="cardano-ada-price-analysis">Cardano (ADA) price analysis</h2> <p class="">Cardano&nbsp;has been consolidating in an uptrend. The price action of the past few days has formed a symmetrical triangle pattern, indicating indecision between the bulls and the bears.</p>
  <div class="wp-block-image">
   <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2023/12/28/3d69ac40b0bb9a113f4edc8bcbdd591e.webp" alt="" data-recalc-dims="1">
    <figcaption class="wp-element-caption"><em><strong><sub>ADA/USDT daily chart. Source:&nbsp;</sub></strong></em><strong><sub><em>TradingView</em></sub></strong>
    </figcaption>
   </figure>
  </div> <p class="">The upsloping moving averages and the positive territory’s RSI signal buyers an advantage. A break and close above the triangle will suggest that the bulls have absorbed the supply. That could propel the price to $0.69 and later to the pattern target of $0.80.</p> <p class="">On the contrary, if the price turns down and breaks below the triangle, it will suggest that the bears remain active at higher levels. The ADA/USDT pair could collapse to the strong support at $0.46.</p> <h2 class="wp-block-heading" id="avalanche-avax-price-analysis">Avalanche (AVAX) price analysis</h2> </a>
 <p class=""><a target="_blank" rel="noreferrer noopener">Avalanche&nbsp;</a><a target="_blank" rel="noreferrer noopener">turned down from $49.96 on Dec. 24, indicating that the traders booked profits near the psychological level of $50.</a></p><a target="_blank" rel="noreferrer noopener">
  <div class="wp-block-image">
   <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2023/12/28/57801cd97340723398538a0167f39226.webp" alt="" data-recalc-dims="1">
    <figcaption class="wp-element-caption"><em><strong><sub>AVAX/USDT daily chart. Source:&nbsp;</sub></strong></em><strong><sub><em>TradingView</em></sub></strong>
    </figcaption>
   </figure>
  </div> <p class="">The selling picked up on Dec. 26, pulling the price to the 20-day EMA ($40.31). The long tail on the day’s candlestick shows that the bulls view the dips as a buying opportunity. Buyers must push the price above $50 to resume the uptrend.</p> <p class="">The risk to the bullish view is that the RSI is showing signs of forming a bearish divergence. This suggests that the positive momentum may be weakening. That signals a minor correction or consolidation in the near term. The selling could pick up if the AVAX/USDT pair skids below the 20-day EMA. The pair may then slump to $34</p> <h2 class="wp-block-heading" id="dogecoin-doge-price-analysis">Dogecoin (DOGE) price analysis</h2> <p class="">The bears pulled Dogecoin below the 20-day EMA ($0.09) on Dec. 26, but the long tail on the candlestick shows strong buying at the 50-day SMA ($0.09).</p>
  <div class="wp-block-image">
   <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2023/12/28/75d1eda8b4d366a1686b2af1bddf0d92.webp" alt="" data-recalc-dims="1">
    <figcaption class="wp-element-caption"><em><strong><sub>DOGE/USDT daily chart. Source:&nbsp;</sub></strong></em><strong><sub><em>TradingView</em></sub></strong>
    </figcaption>
   </figure>
  </div> <p class="">The flattish 20-day EMA and the RSI near the midpoint suggest a balance between supply and demand. This equilibrium could shift in favour of the bears if they sink and sustain the price below the 50-day SMA. The pair may then tumble to $0.07.</p> <p class="">If buyers want the upper hand, they must drive the price above the $0.10 to $0.11 resistance zone. If they manage to do that, the DOGE/USDT pair could start the next leg of the uptrend to $0.16.</p> <h2 class="wp-block-heading" id="polkadot-dot-price-analysis">Polkadot (DOT) price analysis</h2> <p class="">Polkadot&nbsp;is correcting in an uptrend. The price turned down from $9.59 on Dec. 26, indicating that the bears are defending the overhead resistance at $10.</p>
  <div class="wp-block-image">
   <figure class="aligncenter is-resized"><img decoding="async" src="https://cdn.thebittimes.com/images/2023/12/28/60ca1aa02f24aedc153196b766e22a8a.webp" alt="" style="width: 100%;height:auto" data-recalc-dims="1">
    <figcaption class="wp-element-caption"><em><strong><sub>DOT/USDT daily chart. Source:&nbsp;</sub></strong></em><strong><sub><em>TradingView</em></sub></strong>
    </figcaption>
   </figure>
  </div> <p class="">The DOT/USDT pair will likely correct to the breakout level of $7.90. If the price rebounds off this support, it will imply that the sentiment remains positive and traders are buying on dips. The bulls will then make one more attempt to clear the obstacle at $10 and start the journey to $12.</p> <p class="">The risk to the upside is that the RSI is forming a negative divergence. This suggests that the bullish momentum could be slowing. The pair may spend some time inside the range between $7.90 and $9.59 in the short term.</p> <h2 class="wp-block-heading" id="polygon-matic-price-analysis">Polygon (MATIC) price analysis</h2> <p class="">Polygon&nbsp;bounced off the 20-day EMA ($0.87) on Dec. 25 and rose above the stiff overhead resistance of $1 on Dec. 26.</p>
  <div class="wp-block-image">
   <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2023/12/28/7232e07c5dd51a6537ffaea65e87898e.webp" alt="" data-recalc-dims="1">
    <figcaption class="wp-element-caption"><em><strong><sub>MATIC/USDT daily chart. Source:&nbsp;</sub></strong></em><strong><sub><em>TradingView</em></sub></strong>
    </figcaption>
   </figure>
  </div> <p class="">Buyers are trying to extend the upmove on Dec. 27 but may face selling near $1.20. The MATIC/USDT pair could drop to $1 if the price turns down the overhead resistance. If bulls flip this level into support, it will signal strength. The bulls will then try to overcome the barrier at $1.20 and push the price to $1.50.</p> <p class="">Instead, if bears pull the price below $1, it may trap the aggressive bulls. That could accelerate selling and pull the pair to the $0.89 support.</p> <h4 class="wp-block-heading">Source – Rakesh Upadhyay</h4> </a>
</div>
<p><a target="_blank" rel="noreferrer noopener">Source: </a><a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/latest-market-overview-27th-dec-btc-eth-sol-bnb-xrp-ada-avax-doge-dot-matic-tbt74987.html">https://thebittimes.com/latest-market-overview-27th-dec-btc-eth-sol-bnb-xrp-ada-avax-doge-dot-matic-tbt74987.html</a></p>

Latest Market Overview 27th Dec: BTC, ETH, SOL, BNB, XRP, ADA, AVAX, DOGE, DOT, MATIC

Table of Contents

TheBitTimes

Other articles published on Dec 28, 2023

Ethereum whale who holds 15000 ETH opens up about his strategic investments in Solana (SOL) and R...

Crypto Exchanges Under Siege: Safeguarding User Information in a Decentralized World

Trump’s Team Sells 1,075 Ethereum for $2.4 Million

Ault Alliance Subsidiary, RiskOn International, to Announce Its New Generative AI Platform and Te...

Solana Jadi Pilihan Utama Investor, Retik Finance Mengikuti Jejaknya

MicroStrategy’s Bitcoin Purchases Boost MSTR Stocks!

Join our free newsletter for daily crypto updates!