Price analysis 12/6: BTC, ETH, XRP, SOL, BNB, DOGE, ADA, AVAX, TON, SHIB

Bitcoin (BTC) created a historic milestone on December 5th by reaching the critical level of $100,000. The bulls successfully drove the price above $100,000 on December 6th.

Analysts remain optimistic about Bitcoin's long-term prospects, but some express caution in the short term. IG Market analyst Tony Sycamore suggests a possible "consolidation phase in the days/weeks ahead."

Bitcoin Price Analysis

On December 5th, Bitcoin's price action showed selling at higher levels and buying on dips. The intraday high and low of the day indicate a potential breakout if the price breaks out of this range.

If the price holds above $100,000, Bitcoin could challenge its all-time high of $104,088. Buyers are expected to defend this level. Conversely, if the price falls below $90,500, it could enter a potential range formation.

Ether Price Analysis

Ether (ETH) continues to move towards the $4,000-$4,094 resistance zone, where it is expected to face challenges. Support remains at the 20-day exponential moving average of $3,523.

A strong rebound from the 20-day EMA would indicate positive sentiment, and traders may view dips as buying opportunities. A rally above $4,094 could lead to a further surge towards $4,500.

XRP Price Analysis

XRP (XRP) has retreated after a strong uptrend. The bulls will aim to push the price towards $2.91 but may face resistance from the bears. A break below $2.09 could indicate the start of a steep correction, potentially leading to a slump towards the 20-day EMA of $1.79.

Solana Price Analysis

The bulls are attempting to push Solana (SOL) above the near-term resistance of $248. The flat 20-day EMA and the relative strength index (RSI) in positive territory indicate a balance between supply and demand.

A surge above $248 could lead to a further rise towards $264 and $300. Alternatively, a slide below the 20-day EMA could result in consolidation between $210 and $248.

BNB Price Analysis

BNB (BNB) broke above the $722 resistance on December 3rd, but the bulls could not maintain the higher levels. The price pulled back to the breakout level of $722, where a battle between bulls and bears is underway.

If the price remains above $722, the bulls will aim to drive the price towards the target of $810. A break below the 20-day EMA of $665 will favor the bears.

Dogecoin Price Analysis

Dogecoin (DOGE) continues to be traded within an ascending channel, indicating a slight advantage to the bulls. There is minor resistance at $0.46. Crossing this level could lead to a rise towards $0.52.

A break and close below the channel's support line would signal a loss of momentum, potentially leading to a decline towards $0.33.

Cardano Price Analysis

Cardano (ADA) retreated from the $1.33 overhead resistance on December 3rd. The pullback has found support near the 50% Fibonacci retracement level of $1.10. Buyers will attempt to drive the price above $1.33 again, aiming for a potential rise towards $1.50.

A break below $1.10 could suggest a loss of confidence, potentially leading to a drop towards the 20-day EMA of $1.

Avalanche Price Analysis

Avalanche (AVAX) has been experiencing a battle between bulls and bears near $51. The upsloping 20-day EMA and the RSI in the overbought zone indicate bullish momentum.

A move above $56 could lead to further gains towards $60 and $65. A break below the 20-day EMA would signal a potential breakout failure, potentially leading to a drop towards $38.

Toncoin Price Analysis

The bulls are facing difficulties keeping Toncoin (TON) above the $7 resistance. However, the price remains above the 20-day EMA of $6.29. Buyers will aim to push the price above $7, potentially leading to a rise towards $7.65 and $8.29.

A break below the 20-day EMA could indicate a lack of demand and a potential decline towards the 50-day SMA of $5.53.

Shiba Inu Price Analysis

Buyers attempted to push Shiba Inu (SHIB) above the overhead resistance of $0.000033 on December 5th. The rising 20-day EMA and the RSI in positive territory suggest bullish sentiment.

A rebound from $0.000030 could lead to another attempt to break above $0.000033, aiming for a rally towards $0.000039. Failure to hold above $0.000030 could result in a drop towards the 20-day EMA and the 50-day SMA of $0.000023.