Cryptocurrency Price Predictions for December 12: BTC, ETH, BNB, XRP, SOL, DOGE, ADA, BCH, HYPE, LINK

Price predictions 12/12: BTC, ETH, BNB, XRP, SOL, DOGE, ADA, BCH, HYPE, LINK

Summary: As Bitcoin struggles to maintain its position, analysts are closely monitoring the upcoming price levels for various cryptocurrencies. Major altcoins remain pressured, and movements in the market suggest potential significant changes ahead.

Key Takeaways:

Bitcoin is currently facing difficulties in staying above $94,050, which may lead to further declines to $87,700 and $84,000.
Most altcoins are also under strain, threatening to breach their recent support levels.
The chance for Bitcoin to rise to $100,000 before New Year’s is estimated at only 30%.
Essential support and resistance levels are crucial for predicting market directions.

Bitcoin Price Outlook

Bitcoin (BTC) is caught in a tight trading range between $94,588 and $89,260, signifying indecision among traders. The prediction markets suggest only a 30% chance of Bitcoin reaching $100,000 before January 1. According to analyst Darkfost, the lack of liquidity from stablecoins is hindering a recovery.

BTC Chart Crypto market data daily view. Source: TradingView

Some analysts suggest the price may drop below the recent low of $80,600, with trader Roman predicting a potential fall to $76,000, noting that decreasing interest rates won’t necessarily prevent this drop.

Key Levels for Bitcoin

Bitcoin is facing resistance at the 50% Fibonacci retracement level of $94,050, showing that sellers are active at this height. Support levels are set at $87,700 and $84,000. If BTC falls below $84,000, it may retest the November 21 low of $80,600. A breakthrough above $94,050 could pave the way for a climb towards the 50-day simple moving average (SMA) around $97,411, with $100,000 being a crucial psychological level to watch.

BTC/USDT daily chart

Ether (ETH) Price Prediction

Ether (ETH) is showing signs of weakness as it struggles below the 20-day exponential moving average ($3,125) after a downturn from $3,350. If the bears manage to sustain this pressure, ETH could drop to $2,907 and then $2,716, with a close below $2,623 signaling a continuation of the downtrend.

ETH/USDT daily chart

Conversely, if ETH turns upward and surpasses the $3,350 resistance, this may initiate a new uptrend, with potential targets at $3,918 and $4,250.

BNB Price Outlook

BNB is hovering around the 20-day EMA ($892), indicating a balance between buyers and sellers. Current trading suggests a likely range of $791 to $1,020 in the upcoming days.

BNB/USDT daily chart

A drop below $791 would initiate the next downtrend phase, possibly leading to a decline towards $730. On the contrary, closing above $1,020 may signal the end of the correction and could see a rally towards $1,182.

XRP Price Forecast

XRP is currently trapped in a descending channel, with bears firmly in control. The bulls need to push XRP above the 50-day SMA ($2.25) to regain momentum and target the downtrend line.

XRP/USDT daily chart

If the price falls below $1.98, it could drop to the support line and eventually to the key level at $1.61.

Solana (SOL) Price Prediction

Bullish defense at the $126 mark hints at potential strength for Solana. A breakthrough above the 50-day SMA ($152) could confirm an upward trend, aiming for targets at $172 and $190.

SOL/USDT daily chart

However, a close below $126 could signal further declines, potentially dropping SOL to $100, followed by strong support at $95.

Dogecoin Price Outlook

Dogecoin (DOGE) has recently faced selling pressure around the 20-day EMA ($0.14). A close below the support level of $0.13 may trigger a downtrend towards $0.10.

DOGE/USDT daily chart

Strength will be indicated by a breakout above the 20-day EMA, with potential climbs toward $0.16 and $0.19.

Cardano Price Prediction

Cardano is struggling to overcome resistance at $0.50, suggesting bearish sentiment as it fights to hold above $0.40.

ADA/USDT daily chart

If the price drops past $0.37, it could fall to $0.31 or lower. Buyers need to maintain DADA above $0.50 for a possible rise to $0.60 and then $0.70.

Bitcoin Cash Price Prediction

Bitcoin Cash (BCH) showed a positive turn from the 20-day EMA ($560). Bulls are seeking to break above $607, targeting the $651 resistance next.

BCH/USDT daily chart

If sellers push BCH below the moving averages, it could stall trading between $607 and $443.

Hyperliquid Price Forecast

Hyperliquid (HYPE) showed resilience with buyers stepping in after sellers attempted to drive the price down.

HYPE/USDT daily chart

A rise past the 20-day EMA ($31.91) could suggest a recovery, potentially rising towards the 50-day SMA ($37.23) if the upward momentum continues.

Chainlink Price Outlook

Chainlink has been fluctuating between moving averages, suggesting a balance between supply and demand.

LINK/USDT daily chart

A breakout above the 50-day SMA ($14.71) would indicate bullish control, possibly raising the price to $19.06. However, a dip below the 20-day EMA ($13.84) would suggest bearish momentum could push it down to $10.94.

This updated article provides a clear and concise prediction of the current cryptocurrency prices, catering to beginners and optimizing for SEO while retaining original insights.