Originally published on: December 18, 2024
The cryptocurrency market saw some interesting developments in the past week, with Bitcoin pulling back from its all-time high above $108,000. Despite this, analysts remain optimistic about the future of the leading cryptocurrency, with expectations of reaching $145,000 by mid-2025. Institutions continue to show interest in Bitcoin, with net assets in US Bitcoin exchange-traded funds surpassing $129 billion.
On the other hand, Ether faced resistance at $4,094, while XRP struggled to maintain gains above $2.65. Solana, BNB, DOGE, ADA, AVAX, LINK, and SHIB also experienced notable price movements.
Bitcoin bulls are looking to break above key resistance levels, while Ether faces a crucial support test at the 20-day EMA. XRP’s path to $3.50 hinges on breaking above $2.91. Solana aims to recover from a dip below the 50-day SMA, and BNB remains range-bound between $700 and $722.
Meanwhile, DOGE is battling to stay above the 50-day SMA, while ADA looks to reclaim the 20-day EMA. AVAX struggles to maintain momentum above $51, LINK corrects in an uptrend, and SHIB faces pressure near the 20-day EMA.
With these cryptocurrencies making moves in the market, investors and traders need to stay informed to spot potential opportunities and risks. Keep an eye on these top digital assets as they navigate the volatile cryptocurrency landscape.
