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BTC, XRP, DOGE, SHIB and SOL Price Analysis for December 22

Price Predictions
Wed, 12/22/2021 - 16:11
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Denys Serhiichuk
Has the cryptocurrency market reached its local depth?
BTC, XRP, DOGE, SHIB and SOL Price Analysis for December 22
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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By the middle of the week, bulls have turned out to be more powerful than bears as all coins from the top 10 list are again in the green zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Yesterday morning, the bulls managed to break through the resistance of the $47,745 level. During the day, the pair recovered to the POC indicator line, but the price has not yet had time to test the psychological level of $50,000.

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

The daily high is marked at $49,600. Currently, the recovery has slowed significantly, and it is quite difficult for the bulls to break into the $50,000 zone.

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If large buyers take part in the auction today, a breakthrough of this psychological resistance is possible.

Bitcoin is trading at $48,738 at press time.

XRP/USD

Buyers were able to continue the XRP price recovery yesterday, and the bulls managed to break through the $0.96 resistance this morning, setting a weekly high at $0.973.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

If the resistance fails to turn the pair into a pullback, then the pair can try to gain a foothold above $0.96. In this case, a retest of the psychological level of $1 is possible by the end of the week.

XRP is trading $0.9450 at press time.

DOGE/USD

The rate of DOGE has risen by 2.19% over the last 24 hours.

DOGE/USD chart by TradingView
DOGE/USD chart by TradingView

Despite the growth, the price is located in a wide range between the support at $0.1310 and the resistance at $0.2204. The trading volume is low, which means that traders are accumulating power for a sharp move.

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If DOGE comes back to the resistance, one may expect its breakout and further price rise.

DOGE is trading at $0.1765 at press time.

SHIB/USD

SHIB is the biggest gainer from the list today, rocketing by 13%.

SHIB/USD chart by TradingView
SHIB/USD chart by TradingView

SHIB has bounced off the support at $0.00002952, which means that bulls are more powerful than the bears at the moment. Thus, the buying trading volume is slightly increasing, which means that traders are ready to return the price to previous levels. In that case, there is a chance for SHIB to get to the nearest crucial area around $0.000050 shortly.

SHIB is trading at $0.00003705 at press time.

SOL/USD

Solana (SOL) is not an exception from the rule, going up by 3%.

SOL/USD chart by TradingView
SOL/USD chart by TradingView

SOL seems likely to rise further if it fixes above the $180 mark. The popular altcoin is forming the V pattern with a possible target at the mirror level at $230. Such a scenario is relevant until the end of December.

SOL is trading at $184 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.