Price Predictions for December 15: SPX, DXY, BTC, ETH, BNB, XRP, SOL, DOGE, ADA, BCH

Summary: As we approach mid-December, Bitcoin is showing signs of recovery, but selling pressure could bring prices down to $84,000. Altcoins are struggling to maintain momentum above their support levels. This article evaluates price predictions for major cryptocurrencies and related financial indices, including the S&P 500 and the US Dollar Index. Market conditions remain uncertain as traders watch for upcoming events that may influence cryptocurrency prices.

Key Takeaways:

Bitcoin's recovery faces renewed selling pressure, threatening a drop to $84,000.
Several altcoins are struggling to maintain their support levels, with weak rebounds.
Analysts are monitoring the Bank of Japan's interest rate decision on December 19, which may impact Bitcoin's price.
Predictions for the S&P 500 suggest potential short-term fluctuations, while the US Dollar Index indicates bearish trends.
Detailed technical analysis for Bitcoin, Ether, BNB, XRP, Solana, Dogecoin, Cardano, and Bitcoin Cash is provided.

Bitcoin Price Analysis

On Monday, Bitcoin attempted a bounce back, but the market remains under pressure from sellers. Trader CrypNuevo indicated that Bitcoin (BTC) could fluctuate between $80,000 and $99,000, while breaking below $80,000 could sink it to around $73,000. Analyst Aksel Kibar noted that Bitcoin might see a directional move soon after an "extreme low volatility setup." If the price surpasses $94,600, it may reach $100,000; otherwise, it could settle between $73,700 and $76,500 as the bottom range.

Crypto Market Data Daily View. Source: CoinMarketCap

S&P 500 Index Prediction

The S&P 500 Index (SPX) has declined from the resistance level of 6,920, indicating strong selling by bears. If the index falls below the moving averages, it could trade between 6,550 and 6,920 for the next few days. A close beneath 6,550 could complete a double-top pattern, potentially leading to a drop to the target of 6,180. Conversely, if it rises above 6,920, the uptrend is likely to continue toward 7,290.

SPX Daily Chart. Source: Cointelegraph/TradingView

US Dollar Index Prediction

The US Dollar Index (DXY) attempted to move above the 20-day EMA of 99.04 on Tuesday but faced resistance from bears. A bearish crossover in moving averages and a negative RSI suggests a short-term advantage to sellers. Minor support is at the 98 level, and a drop below this threshold could lead to further declines to 97.20 and then 96.21. A break and close above the 20-day EMA would signify strength, with buyers likely gaining traction above 100.54.

DXY Daily Chart. Source: Cointelegraph/TradingView

Bitcoin Price Outlook

Bitcoin experienced a bounce back on Monday but couldn't overcome the 20-day EMA at $90,720. If the price closes below the uptrend line, it could dip to $84,000, then possibly to the November 21 low of $80,600. Alternatively, if it breaks decisively above the 20-day EMA, a rally toward the 50-day SMA ($95,985) may follow, with sellers expected to defend the area between this SMA and $100,000.

BTC/USDT Daily Chart. Source: Cointelegraph/TradingView

Ether Price Forecast

Ether managed to trade above the 20-day EMA ($3,106) on Monday, but the long candlestick wick indicates selling pressure at higher levels. If bears manage to push the price below $2,907, the ETH/USDT pair might drop to the $2,716 to $2,623 support zone. However, if the price breaks above the $3,350 breakdown level, it could signal a trend reversal, potentially rallying toward $3,658 and then $3,918.

ETH/USDT Daily Chart. Source: Cointelegraph/TradingView

BNB Market Prediction

The trading range for BNB has resolved downward, indicating slight bearish momentum. Sellers are likely to target the critical support at $791. If this level breaks, the BNB/USDT pair could resume its downtrend toward $730. Conversely, a rebound off the $791 support and a subsequent break above the 20-day EMA ($888) could lead to range-bound trading between $791 and $1,020 for the immediate future.

BNB/USDT Daily Chart. Source: Cointelegraph/TradingView

XRP Price Overview

XRP remains beneath the 20-day EMA ($2.06), reflecting weak buying interest. Bears will likely aim to push the price down to the support line of the descending channel and toward $1.61. A breakdown below this level could see XRP fall to the October 10 low of $1.25. The bulls need to push above the 50-day SMA ($2.21) to display strength, after which a rally toward the downtrend line could occur.

XRP/USDT Daily Chart. Source: Cointelegraph/TradingView

Solana Price Trends

Solana has formed a symmetrical triangle, indicative of market uncertainty. A downward break below this triangle's support line would hint at bear dominance, potentially driving the SOL/USDT pair down to strong support at $95. Alternatively, a break above the triangle's resistance line could signify a bullish comeback, leading to a rally toward $172 and possibly $189.

SOL/USDT Daily Chart. Source: Cointelegraph/TradingView

Dogecoin Price Movement

Sellers are attempting to push Dogecoin below the crucial $0.13 support level. If successful, the DOGE/USDT pair may resume its decline towards the October 10 low of $0.10, an area likely to attract significant buying. For bullish momentum, buyers need to lift the price above the 20-day EMA ($0.14), which could send the price toward $0.19 and indicate a potential bear trap.

DOGE/USDT Daily Chart. Source: Cointelegraph/TradingView

Cardano Price Trajectory

Cardano is trending toward the $0.37 level, a vital support threshold. A breakdown below this level could trigger a further decline to the October 10 low of $0.27. On the flip side, a price increase above the 20-day EMA ($0.42) may signal consolidation between $0.37 and $0.50. To indicate a possible trend reversal, buyers will need to push the price above the $0.50 mark.

ADA/USDT Daily Chart. Source: Cointelegraph/TradingView

Bitcoin Cash Price Analysis

Bitcoin Cash has broken below the 20-day EMA ($560), indicating diminishing bullish strength. The next support levels to monitor are at $534 (50-day SMA) and $508. Price movements may hover within the $443 to $615 range for some time. Buyers need to push the price firmly above $615 to confirm a resumption of the upward motion, with the target set at the critical resistance level of $651.

BCH/USDT Daily Chart. Source: Cointelegraph/TradingView

As the cryptocurrency market experiences volatility, traders and investors must stay informed and adjust their strategies based on current market conditions and technical indicators.