Bitcoin (Bitcoin) And most major altcoins have rebounded from their immediate support levels, indicating that market sentiment is improving and traders are buying in a slight decline.

Billionaire and Mexico’s third richest person, Ricardo Salinas Pliego, said in his Christmas and New Year speech Stay away from fiat currency, Calling it “a fake money lie made of paper.” Instead, he advises people to “invest in Bitcoin.”

Senior trader Peter Brandt warning During the holiday period when trading was light in the second half of December, “the breakout of chart patterns should be highly suspected.”

Analysts are still optimistic about 2022.Crypto analyst and pseudonym Twitter user DecodeJar believes Bitcoin may exceed $100,000 And reached a conservative price target of US$190,000.

Can Bitcoin continue to recover and pull alpine coins in the next few days? Let’s study the charts of the top 10 cryptocurrencies to find out.

Bitcoin/USD

In the past three days, Bitcoin has successfully held the 20-day exponential moving average (EMA) ($50,033), indicating that the bulls are buying on dips. This may attract further buying from the bulls.

The 20-day moving average began to rebound, and the relative strength index (RSI) rose to a positive zone, indicating that the bulls are in an advantage.

If buyers push the price above the 38.2% Fibonacci retracement level of $52,314, the possibility of a rebound to the strong overhead resistance of $60,000 will increase. The bears may fully defend this level.

If the price falls from the current level or above the resistance and breaks below the moving average, this bullish view will be negated. This may pull the BTC/USDT pair to a strong support level of $45,456.

Ethereum/USDT

Ether (Ethereum) Broke through and closed above the 20-day moving average ($4,065) on December 23, but the bulls failed to take advantage of this advantage. This shows that the bears have not given up and are selling on rallies.

The flat 20-day EMA and RSI near the midpoint indicate that supply and demand are in balance. If the bulls push and maintain the price above the upper resistance level of $4,200, the bullish momentum may rebound. This may clear the way for a possible rebound to $4,488 and then retest the all-time high of $4,868.

Conversely, if the price falls from the current level and breaks below $3,893.23, it indicates that the bears have the upper hand. This may pull the ETH/USDT pair to 3,643.73 USD and then to the 200-day simple moving average (SMA) (3,339 USD).

BNB/USDT

After trading close to the 20-day EMA (549 USD) in the past three days, Binance Coin (Bitcoin) Has climbed above the resistance level on December 27.

The 20-day EMA is flat and the RSI is slightly above the midpoint, indicating that the bulls and bears are in balance. If the price stays above the 20-day moving average, it indicates that the bulls have overwhelmed the bears.

The BNB/USDT currency pair may first rise to 575 US dollars and then rise to 617 US dollars. Or, if the price drops from the current level, the bears will try to pull the currency pair to $500. This is an important support for the bulls to defend, because if it breaks, the decline may extend to the 200-day moving average ($442).

Sol/USDT

Solana (Sol) Broke through and closed above the 20-day moving average ($187) on December 23, indicating that the correction may be coming to an end. The bears tried to pull the price back below the 20-day moving average on December 24, but the bulls did not relax.

This may attract further purchases from traders. The SOL/USDT currency pair may now rise to the resistance line of the descending wedge pattern, and bears may form strong resistance at this resistance line.

If the price falls from the resistance line but rebounds from the 20-day moving average, it means that the bulls are buying every time they fall slightly. This will increase the possibility of breaking the wedge and open the door for a retest of $259.90.

Conversely, if the price falls and breaks below the 20-day moving average, the currency pair may fall to US$167.88. A break of this support level may cause the currency pair to fall to the 200-day moving average ($125).

ADA/USDT

The bulls have successfully defended the 20-day moving average ($1.39) in the past three days. This shows that market sentiment has turned positive and traders are buying on dips. Cardano (have) Recovery resumed on December 27.

The RSI has risen above 58, and the 20-day moving average has begun to rise, indicating that the bulls are trying to make a comeback. The ADA/USDT currency pair may rise to 1.76 US dollars, and then rise to the overhead resistance of 1.87 US dollars.

If prices fall from current levels and break below the 20-day moving average, this bullish view will be invalidated. Such a move would indicate that the bears are selling on rallies. The bears will then try to pull the currency pair below $1.18. If they do, the currency pair may fall to $1.

Ripple/USDT

Ripple (Ripple) The fall from the psychological resistance level of 1 USD on December 24 indicates that the bears are active at a higher level. Sellers pulled the price down to the 20-day moving average ($0.90), but one thing is positive, and the bulls have remained at that level for the past three days.

The price currently stays between the moving averages. If buyers push the price above the 200-day SMA ($0.94), the XRP/USDT pair may rebound to $1. Breaking and closing above this level may complete the reverse head and shoulders pattern, which may open the door to a possible rebound to $1.25.

Conversely, if the price breaks and remains below the 20-day moving average, the currency pair may fall to 0.85 USD. If this level also breaks, the decline may reach the key support level of $0.75. A strong rebound from this level may cause the currency pair to maintain a range of fluctuations between US$0.75 and US$1 for a few days.

Moon/USDT

Bulls repeatedly pushed Terra’s Luna They have been above the resistance level of $100 in the past three days, but they have failed to maintain higher levels. This shows that the bears continue to actively defend this level.

The LUNA/USDT currency pair can now be corrected to the 38.2% Fibonacci retracement level of 83.83 USD and then to the 50% retracement level of 77.72 USD. This area may play a strong supporting role.

If the price rebounds from this area, it indicates that the trend is still bullish and traders are buying on dips. Then the bulls will try again to push the price above the all-time high of $103.60.

If they manage to do this, the currency pair may rise to US$124.65 and then to US$150. If the price falls and breaks below the 61.8% Fibonacci retracement level of $71.61, this positive view will be invalidated.

related: As the U.S. dollar performs strongly against the euro, Bitcoin rises above $51,000

AVAX / USDT

Avalanche (AVAX) Again rebounded from the 20-day moving average ($109) on December 26, indicating that the bulls are buying on dips. The rising 20-day moving average and RSI above 57 indicate that the bulls have the upper hand.

If the price stays above the 20-day moving average, the bulls will try to clear the upper resistance zone between the 61.8% Fibonacci retracement level of $119.69 and the 78.6% retracement level of $131.70. If they succeed, the AVAX/USDT currency pair may rise to an all-time high of $147.

Conversely, if the price falls from the current level or above the area and breaks below the 20-day moving average, it indicates that the trader is booking profit at a higher level. Then the currency pair may fall to $98, and buyers may try to prevent the decline.

DOT / USDT

The bulls successfully held the 20-day moving average ($28.91) on December 24 and 25, indicating that market sentiment has turned positive and traders bought on dips. Continued purchases have driven Polkadot (point) Is higher than the upper resistance level of 31.49 USD on December 27th.

The 20-day moving average began to gradually rise, and the RSI jumped to a positive zone, indicating that the bulls have the upper hand.

If buyers maintain the price above US$31.49, the bullish momentum may rebound further, and the DOT/USDT currency pair may start a new rise. The first target on the upside is $39.35. If it breaks this level, the next stop may be $43.56.

Contrary to this assumption, if the price falls and breaks below the moving average, the currency pair may fall to the strong support zone of US$25 to US$22.66.

Dogecoin/USDT

Dogecoin (dog) The past three days have been trading between the 20-day moving average ($0.18) and the upper resistance level of $0.19. This shows that both bulls and bears are acting cautiously instead of placing big bets.

A breakout and close above $0.19 would indicate that the bulls have absorbed the supply. This may start to rise to $0.22. If it exceeds this level, the DOGE/USDT pair may reach the 200-day moving average ($0.23).

The bulls will have to clear this barrier to signal a sustained rise. Or, if the price falls and breaks below the 20-day moving average, it indicates that the bears have an advantage. Then the currency pair may fall to a strong support of 0.15 USD.

The views and opinions expressed here only represent the views of the author and do not necessarily reflect the views of Cointelegraph. Every investment and transaction involves risks. When making a decision, you should conduct your own research.

Market data by Bitcoin exchange.