The article provides market analysis for various cryptocurrencies, including Bitcoin’s competitors such as Cardano, Chainlink, Shiba Inu, and others. Here are the key points from the article:
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Cardano (ADA): ADA is facing selling near the 61.8% Fibonacci retracement level of $1.16. If it breaks below the 20-day EMA ($1.05), a range formation may occur between $1.16 and $0.91.
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Chainlink (LINK): LINK has broken above the overhead resistance at $27.41, but is facing selling at $30.94. The price bounced off $27.41 suggests that bulls are trying to flip it into support. A rally above $30.94 may take the price to $34.50 and $38.30.
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Shiba Inu (SHIB): SHIB’s recovery hit a wall at the $0.000030 overhead resistance, indicating selling on rallies. The pair is range-bound between the 50-day SMA ($0.000024) and the stiff overhead resistance of $0.000033.
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Dogecoin (DOGE): DOGE re-entered the channel but bulls are struggling to maintain the price above the 20-day EMA ($0.40). A break below it may sink the pair to the 50-day SMA ($0.32).
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Avalanche (AVAX): AVAX made a sharp comeback from $40.40, indicating aggressive buying at lower levels. If bulls do not allow the price to dip below $51, the likelihood of a breakout increases. The pair could climb to $60 and then to $65.
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Cardano (ADA): ADA’s relief rally is facing selling near the 61.8% Fibonacci retracement level of $1.16. If it breaks below the 20-day EMA ($1.05), a range formation may occur between $1.16 and $0.91.
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Chainlink (LINK): LINK turned up sharply from the 20-day EMA but broke above the overhead resistance at $27.41 on Dec. 12. However, it is facing selling at $30.94. The price bounced off $27.41 suggests that bulls are trying to flip it into support.
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Shiba Inu (SHIB): SHIB’s recovery hit a wall at the $0.000030 overhead resistance on Dec. 12, indicating that bears are selling on rallies. The pair is range-bound between the 50-day SMA and the stiff overhead resistance of $0.000033.
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Avalanche (AVAX): AVAX made a sharp comeback from $40.40, indicating aggressive buying at lower levels. If bulls do not allow the price to dip below $51, the likelihood of a breakout increases.
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Chainlink (LINK): LINK turned up sharply from the 20-day EMA and broke above the overhead resistance at $27.41 on Dec. 12. However, it is facing selling at $30.94. The price bounced off $27.41 suggests that bulls are trying to flip it into support.
Please note that this article does not provide investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
