Crypto analysis for BTC, ETH, XRP, DOGE and DOT - December 12, 2024
Crypto market in the last 24h:
š Global market cap: $3.63T (+4.19%)
š Total 24h volume: $218.24B (-20.74%)
š° DeFi volume: $18.85B (8.64% of total volume)
š Stablecoins volume: $202.14B (92.62% of total volume)
šµ Bitcoin dominance: 54.86% (-0.77%)
Bitcoin (BTC) Analysis
BTC has formed an ascending channel accompanied by bearish divergence, increasing the likelihood of a bearish move. However, for confirmation, we need a breakdown and candle closing below the support zone of 99,374.00 USD. If this occurs, it could lead to targets of 98,222.00 USD and 97,187.00 USD.
Ethereum (ETH) Analysis
ETH is showing strength with a bullish CHoCH (Change of Character), indicating a potential continuation of its upward trend. Buying on dips could be favorable. If the price retraces to the zone of 3,777.00 USD, which previously acted as resistance, it could now serve as support after the breakout. From this level, we can anticipate a bounce, with potential targets at 3,850.00 USD and 3,931.00 USD.
Ripple (XRP) Analysis
XRP is showing a good setup with the formation of an inverse head and shoulders pattern, signaling a potential bullish move. For confirmation, we need a breakout and candle closing above the resistance zone of 2.5114 USD. If this occurs, it could validate the bullish pattern and open the way for targets at 2.7051 USD and 2.9274 USD.
Dogecoin (DOGE) Analysis
DOGE has formed an inverse head and shoulders pattern accompanied by bullish divergence, which increases the probability of a bullish move. For confirmation, we need a breakout and candle closing above the resistance zone of 0.4249 USD. If this occurs, we can anticipate potential targets at 0.4438 USD and 0.4632 USD.
Polkadot (DOT) Analysis
DOT is showing strength due to its bullish market structure and a potential cup & handle formation, which increases the probability of a bullish move. For confirmation, we need a breakout and candle closing above the resistance zone of 9.85 USD. If this occurs, the expected targets could be 10.46 USD and 11.20 USD.
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