30s Summary

Bitcoin’s three-day downward trend due to low US inflation data and potential interest rate cuts may be a buying opportunity for some. Meanwhile, Ethereum is showing signs of stabilising despite a price drop. Ripple’s XRP is experiencing push-pull at the price point of $2.23, while Solana is poised for potential comeback if investors can lift its price. Other digital currencies such as Binance Coin, Dogecoin, Cardano, Avalanche, Chainlink and Toncoin are also battling their sell-off conditions. The volatility in this market requires comprehensive research before investing.

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Bitcoin’s dip for three straight days has created a buying opportunity for those who believe in the digital currency. This downward trend was caused in part by US inflation data being lower than expected. The forecast from Federal Reserve chairman Jerome Powell earlier this week about potential interest rate cuts also had an impact. So, is this a crash and burn or a chance to buy in before it bounces back? Branching out from Bitcoin, let’s glance at how the top 10 digital currencies are faring.

For you Bitcoiners, it seems that the bulls have been buying because it was cheaper. Predictions suggest that the Bitcoin price range of $60,000 to $67,000 is sexy for whales right now. What’ll they be watching out for? They’ll be on guard against price falls and looking for signs of upward turnarounds. Prices dropped below an established boundary on Dec. 20, but with all the buying happening, Bitcoin may bounce right back.

Now, let’s look at Ethereum. The selling pressure nudged the price down a bit on Dec. 16 because the price didn’t get over $4,094. But don’t panic just yet – things might be about to steady. The Ethereum price fell below a marker set by the recent average and plummeted to $3,101 on Dec. 20, but the bulls roared back in, causing the price to tilt back above the new downward line.

For fans of Ripple’s XRP, there’s been some real push-pull at the price point of $2.23 in the last 20 days. Bulls and bears alike would all love a victory at the $1.90 level. So, expect some interesting skirmishes between these two stubborn sides in the days ahead.

Solana saw a significant drop from $218 and fell below its support at $210. It’s not looking too great for Solana, as rain clouds still hover over its price. On a positive note, if investors manage to bump the price above the recent average, Solana might be set for a comeback.

Binance Coin managed to stay above the $722 resistance on Dec. 17, but could quite sustain and quickly experienced a sell-off. Buyers came to the rescue at lower levels, so-currently, it seems like tough floor has formed to keep the price safe from further dips.

Dogecoin slipped below its average 50-day price of $0.35, signaling that buyers have taken a step back for now. The bulls were, however, quick to stop the price from sliding down to $0.27.

Cardano completed a bearish trend when it dropped below the line on Dec. 19. It’s all eyes on the $0.80 level for now for Cardano fans, as the price risks crashing to $0.69 if this level isn’t defended enough.

Avalanche has also seen an accelerated sell-off as prices broke below the average over the past 20 days on Dec. 18. The selling pressure dragged the price down below the 50-day average; if this continues, the price may plunge down to $30.50.

Chainlink took an unfortunate tumble on Dec. 18 and slipped below the $23 support two days later. A big test for Chainlink would be hovering right at the 50-day average, as a rebound here may help it recover to the more recent average of $24.26.

And lastly, markets are keeping a keen eye on Toncoin as it hit the $4.72 to $4.44 support on Dec. 20. However, bears have the upper hand here for now. If the price breaks the $4.44 support level, it could potentially plummet down to $3.50. However, a slight chance of revival can be seen if it bounces back and breaks above the recent average, the price could rally to $7.

Even though cryptocurrency markets are a bit shaky right now, this could just be your chance to make your move if you’ve been thinking about it. Know this, though – these markets can be volatile and risky, so always do your research.