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BTC, ADA and BNB Price Analysis for December 30

Price Predictions
Thu, 12/30/2021 - 15:53
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Denys Serhiichuk
Can the main cryptocurrencies show strength against the ongoing bearish pressure?
BTC, ADA and BNB Price Analysis for December 30
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Bulls are losing their power as most of the coins have come back to the red zone again.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Yesterday, the Bitcoin price consolidated in a sideways range in the area of ​​the $47,745 level. By the end of the day, the bulls' defense was broken and the pair fell to the support of $46,000.

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Tonight, after retesting the $46,000 mark, the BTC price bounced back. The volume of purchases is not very large yet, and the rebound itself is not high.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

At the same time, on the daily time frame, the Stoch RSI indicator left the neutral area and reached the border of the oversold zone. This suggests that the market may continue to decline until a reversal signal is formed. One believes that today the fall can  slow down, and the price might try to consolidate in the support area of ​​$46,000.

Bitcoin is trading at $47,424 at press time.

BNB/USD

Binance Coin (BNB) has followed the drop of Bitcoin (BTC), going down by 1.45% over the last day.

BNB/USD chart by TradingView
BNB/USD chart by TradingView

Despite the fall, the native exchange coin is trading in the wide channel as the price remains above the vital support at $489.

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In this case, there is a good chance to see continuous sideways trading between the mark of $500 and the zone of the most liquidity around $580.

BNB is trading at $521.7 at press time.

ADA/USD

Cardano (ADA) is the biggest loser from the list, declining by 2.31% since yesterday.

ADA/USD chart by TradingView
ADA/USD chart by TradingView

Cardano (ADA) is trading similarly to Binance Coin (BNB) as it is located in the middle of the wide channel. Currently, neither bulls nor bears are controlling the situation. If the price remains trading above $1.3, there is a possibility to see a slight growth to the purple resistance line at $1.479.

ADA is trading at $1.362 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.