Where Does The Price Analysis For The Various Cryptocurrencies Stand?

Price analysis

The $23,562 price of Bitcoin has mainly remained unchanged this week after a spectacular surge that lasted for two weeks. This indicates that market players are not becoming anxious ahead of a flurry of central bank meetings that take place the following week, which is a good indication. Next week, the US Federal Reserve, the European Central Bank, and the Bank of England are all expected to make policy announcements.

The U.S. core personal consumption expenditures (PCE) statistics for December showed the slowest annual rate of increase since October 2021, giving the bulls’ optimism a further boost. Core PCE increased 4.4% from a year ago, which was in line with analyst estimates.

The Price Analysis For The Cryptocurrencies Is Here

The BTC/USDT pair’s recurrent inability to keep the price over $23,000 may lead short-term traders to book profit- as mentioned by the price analysis. The amount needed right away is $22,292. The downturn can eventually approach the 20-day EMA ($21,172) if this level breaks away. It’s crucial to monitor this level since a rapid rebound of it will signal significant demand at lower levels. The duo can then try to resume their upward movement once more and break through the crucial overhead obstacle at $25,211. 

To gain a short-term edge, the bears will need to push the price below the horizontal support area near $1,500. After that, the ETH/USDT pair can begin to fall in direction of the sturdy support at $1,352. Buyers appear to have a little advantage, as indicated by the 20-day EMA’s upward slope and the positive relative strength index (RSI) reading. The bulls must raise and hold the price over $318 in order to capitalize on this advantage. If they are successful, the BNB/USDT pair may gain strength and soar to $360- according to the price analysis.