BTC, ETH, XRP, SOL, BNB, DOGE, ADA, AVAX, and Link Cryptocurrency Prices Analyzed for December 12-13.
The provided text is an analysis of the current market situation for various cryptocurrencies, specifically focusing on their prices and potential future movements. Here’s a summary:
- Dogecoin (DOGE): The DOGE/USDT pair is struggling to stay above the $0.40 level. If it breaks below this level, the price could drop to $0.36.
- Cardano (ADA): ADA’s relief rally faces selling pressure near the 61.8% Fibonacci retracement level of $1.16. If the price bounces off the 20-day EMA ($1.05), it may attempt to drive the pair above $1.16 and challenge the $1.33 resistance.
- Chainlink (LINK): The LINK/USDT pair broke above the overhead resistance at $27.41 but is facing selling pressure at $30.94. If the price bounces off $27.41, it may suggest that bulls are trying to flip this level into support.
- Shiba Inu (SHIB): The SHIB/USDT pair hit a wall at the $0.000030 overhead resistance and is facing selling on rallies. The 20-day EMA ($0.000028) is flattening out, suggesting balance between supply and demand.
Based on this analysis, if you’re interested in investing in these cryptocurrencies, here are some general recommendations:
- Wait for a confirmed breakout: For DOGE and ADA, wait until the price breaks above their respective resistance levels ($0.43 and $1.16) before considering an investment.
- Monitor LINK’s price action: If LINK bounces off $27.41 and attempts to drive the pair above $30.94, consider investing in this cryptocurrency.
- Be cautious with SHIB: The SHIB/USDT pair may stay range-bound between the 50-day SMA ($0.000024) and the stiff overhead resistance of $0.000033. Be cautious when considering an investment.
Investing in cryptocurrencies involves risk, and it’s essential to conduct thorough research before making a decision.
