Bitcoin, Ethereum, XRP, Solana, Binance Coin, Dogecoin, Cardano, Avalanche, Chainlink, and TON: Price Analysis for 12/20

Bitcoin has been on a three-day pullback, but investors are still bullish, leading to a solid recovery in its price. The recent United States inflation data came in lower than expected, boosting market sentiment. Despite Fed Chair Jerome Powell’s projection of rate cuts, traders are wondering if this is a correction or a buying opportunity.

Analysts suggest that Bitcoin’s accumulation range is forming around current prices, with key support levels to watch. Bitcoin broke below the ascending channel pattern but rebounded from the 50-day SMA. To confirm decreased selling pressure, bulls will need to push BTC above the 20-day EMA for a retest of the all-time high.

Ethereum failed to break resistance at $4,094, prompting profit-taking. After dropping below the 20-day EMA, the bulls aggressively bought the dip, aiming to push the price back above the downtrend line. A range between $3,000 and $4,094 is expected in the near term.

XRP faces a battle at the 20-day EMA, with bulls defending $1.90. A break below this level could see XRP dropping to the 50-day SMA. Solana turned down sharply from the 20-day EMA, suggesting a bearish trend, while BNB’s failure to sustain higher levels could lead to further declines.

Dogecoin fell below the 50-day SMA, with bulls trying to hold at the 61.8% Fibonacci retracement level. Cardano completed a bearish pattern, and a break above the 20-day EMA is crucial for a bullish reversal. Avalanche accelerated its selling after breaking below the 20-day EMA, with Chainlink also turning down sharply.

Investors should watch key support levels and moving averages for these top 10 cryptocurrencies to gauge their next moves. As the market remains volatile, staying informed about these price developments is key to making informed investment decisions.