Analysis of Prices on 12/4: BTC, ETH, XRP, SOL, BNB, DOGE, ADA, AVAX, TON, SHIB

Bitcoin has been hovering around $100,000 for a while now, with data suggesting that any slight drops are quickly being bought up by investors. In fact, there was a whopping $676 million inflow into U.S.-based spot Bitcoin exchange-traded funds on Dec. 3, indicating the strong institutional demand for Bitcoin. According to Capriole Investments founder Charles Edwards, institutions and ETFs now hold a significant 13.5% of all Bitcoin.

Consolidation near a key resistance level like this often leads to a breakout to the upside. However, traders should be careful as repeated failed attempts to break above the resistance could cause short-term bulls to take profits, leading to a swift drop.

So, the big question is: will Bitcoin’s consolidation lead to an upward or downward move? And what about altcoins? Let’s take a look at the top 10 cryptocurrencies to see what the charts have in store for us.

Starting with Bitcoin, it has formed a symmetrical triangle pattern, showing a tug of war between the bulls and bears. The moving averages and RSI indicate that bullish momentum is currently stronger. A break above the triangle could see Bitcoin rallying above $100,000, with potential targets at $113,331 and $125,000. On the flip side, a break below the triangle could lead to a decline towards $90,000 and $85,000.

Moving on to Ethereum, it has bounced off a downtrend line on Dec. 3, signaling the bulls’ attempt to establish support. If the price stays above the 20-day EMA, we could see ETH climbing to $4,000 and $4,094. Conversely, a drop below the EMA could indicate a lack of demand at higher levels, leading to a retreat to the 50-day SMA.

XRP, on the other hand, has hit a roadblock around $2.91, with support at $2.28. A bounce off this support could propel XRP towards $3.84, while a crack below it could see the price dropping to $2.09 and $1.90.

Solana, BNB, Dogecoin, Cardano, Avalanche, and Toncoin are also showing interesting price movements, with bulls and bears battling it out at key levels. These cryptocurrencies all have their own unique patterns and potential directions, so investors should stay vigilant and keep a close eye on the charts.

Overall, the cryptocurrency market seems to be in a state of flux, with plenty of opportunities for both traders and long-term investors. It will be exciting to see how things unfold in the coming days and weeks as we navigate through this ever-evolving landscape of digital assets.