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Price Analysis

Bitcoin, Ripple, Ethereum, Bitcoin Cash, EOS, Stellar, Tether, Litecoin, Bitcoin SV, TRON, Cardano, IOTA: Price Analysis, Dec. 31

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Bitcoin Price Analysis – BTC/USD

BTC/USD

The 1st largest cryptocurrency – Bitcoin with its current market cap stands at $66,615,970,559, 08:13 UTC on December 31 dipped in current value by 40.69% relative to the level of November 07 due to the strong bearish pressure believed to have caused a drop in value; however the current value is increased by 18.9% compared to December 15 as interpreted from the graph above. Since both moving averages have significantly declined to represent a negative sign besides that fact that the BTC/USD pair remained ‘uptrend in value from December 17 to December 25. However, today the current value traded in line with EMA suggests that the bears may have the upper hands for some time. Those that would like to invest into this cryptocurrency should wait until the next ‘uptrend’ created in value. The “descending channel” elaborates that how the value experienced downtrend since November 14. Though moving averages continue to fall, the 14-day RSI has been forming a “positive divergence” in the recent past. This is a bullish sign. Now let us talk about the certain milestone that this cryptocurrency attained in the recent past. The BTC/USD pair remained range bound from September 18 to October 15 this year, as the cryptocurrency rallied from a low of $6241 to a high of $7786 which is a 24.75 percent return within 27 days. However, based on the current trend, the next support level could be $3880.

Ripple Price Analysis – XRP/USD

XRP/USD

The 2nd largest cryptocurrency by market cap – Ripple with its current market cap stands at $14,766,413,618, 08:13 UTC on December 31 slashed in current value by 27.8% relative to the level of November 18 due to the strong bearish pressure as well as competitive forces; however the current value is believed to have gained by 26.5% compared to December 15 as interpreted from the graph above. Since both moving averages have significantly declined until mid-December, however, the current value is believed to have created ‘uptrend’ in value which signifies that all those traders and community that long awaited to invest into this currency, may explore to create the long position in it. Besides this, the 20-day EMA elaborates that the current value has started offering the desired return as interpreted from the graph above. Amid this, the “descending channel” elaborates that how the value declined since attaining its mid-November level. Now let us talk about the certain milestone that this cryptocurrency accomplished in the recent past. The XRP/USD pair remained range bound from October 12 to November 05 this year, as the cryptocurrency rallied from a low of $0.3833 to a high of $0.5678 which is a 48.13 percent return within 34 days. However, based on the current trend, the next support level could be $0.40.

Ethereum Price Analysis – ETH/USD

ETH/USD

The 3rd largest cryptocurrency by market cap – Ethereum with its current market cap stands at $14,230,174,097, 08:13 UTC on December 30 dropped in current value by 37.5% relative to the level of November 06 due to the strong bearish pressure; however the current value has created bullish pattern by increasing in value by 66.66% compared to December 15 as interpreted from the graph above. Since both moving averages have significantly down, however, the current value created ‘uptrend’ as interpreted from the graph above. Those traders and investors community that long awaited to invest into this asset, the current value offers significant “uptrend” in value thereby creating the bullish pattern. It seems that the correction has taken place that reflects in the pricing scenario. Now let us talk about the certain milestone that this cryptocurrency attained in the recent past. The ETH/USD pair remained range bound from September 13 to October 15 this year, as the cryptocurrency rallied from a low of $184 to a high of $242 which is a 31.5 percent return within 32 days. However, based on the current trend, the next support level could be $142.

Bitcoin Cash Price Analysis-BCH/USD

BCH/USD

The 4th largest cryptocurrency by market cap – Bitcoin Cash with its current market cap stands at $2,810,281,672, 08:13 UTC on December 31 dipped in current value by 74.44% relative to the level of November 06 as the strong bearish pressure caused drop in value; however the current value is believed to have gained by 107.69% compared to December 15 as interpreted from the graph above. Since both moving averages have significantly down represented a negative sign, with this, the current value trades in the similar line of 20-day EMA and may expect to create uptrend if it crosses $165 level. Those that would like to execute a long position in this asset may wait for some time until the ‘uptrend’ created in value. The “descending bottom” elaborates that how the value experienced downtrend after attaining its all-time high on November 05 as interpreted from the graph above. Though moving averages continue to fall, the 14-day RSI has been forming a “positive divergence” in the recent past. This is a bullish sign. Now let us talk about the certain milestone that this cryptocurrency attained in the recent past. The BCH/USD pair remained range bound from October 12 to November 06 this year, as the cryptocurrency rallied from a low of $417 to a high of $641 which is a 53.7 percent return within 25 days. However, based on the current trend, the next support level could be $160.

EOS Price Analysis – EOS/USD

EOS/USD

The 5th largest cryptocurrency by market cap – EOS with its current market cap stands at $2,364,432,446, 08:13 UTC on December 31 dipped in current value by 53.5% relative to the level of November 06 due to the strong bearish pressure and competitive forces; however the current value is believed to have gained by 49.88% compared to December 07 as interpreted from the graph above. Since both moving averages have significantly down represented a negative sign besides creating ‘uptrend’ in current value signifies that fact that the asset is in the mood to create bullish trend thereby offering the desired return to all those that have invested in it. The “descending channel” elaborates that how the value experienced downtrend since November 12. Amid this, the moving averages continue to fall besides ‘uptrend’ in value today. The 14-day RSI has been forming a “positive divergence” in the recent past. This is a bullish sign. Now let us talk about the certain milestone that this cryptocurrency attained in the recent past. The EOS/USD pair remained range bound from October 11 to November 06 this year, as the cryptocurrency rallied from a low of $5.079 to a high of $5.83 which is a 14.7 percent return within 26 days. However, based on the current trend, the next support level could be $3.

Stellar Price Analysis – XLM/USD

XLM/USD

The 6th largest cryptocurrency by market cap – Stellar with its current market cap stands at $2,231,545,208, 08:13 UTC on December 31 declined in current value by 57.6% relative to the level of November 11; however, the current value has gained by 20.8% compared to December 16 as interpreted from the graph above. Since both moving averages have significantly down represented a negative sign. As the XLM/USD created the ‘downtrend in value from December 17 to December 24, however, today the current value traded in line with EMA suggests that the bears may have the upper hands for some time. Those that would like to invest into this cryptocurrency should wait until the next ‘uptrend’ created in value. The “descending channel” elaborates that how the value experienced downtrend from attaining its all-time high on November 10. Though moving averages continue to fall, the 14-day RSI has been forming a “positive divergence” in the recent past. This is a bullish sign. Now let us talk about the certain milestone that this cryptocurrency attained in the recent past. The XLM/USD pair remained range bound from October 10 to November 11 this year, as the cryptocurrency rallied from a low of $0.206 to a high of $0.2826 which is a 37.18 percent return within 32 days. However, based on the current trend, the next support level could be $0.12.

Tether Price Analysis – USDT/USD

USDT/USD

The 7th largest cryptocurrency by market cap – Tether with its current market cap stands at $1,895,739,780, 08:13 UTC on December 31 slashed in current value by 0.66% relative to the level of December 22 due to the strong bearish pressure; however the current value is believed to have gained by 0.75% compared to December 24 as interpreted from the graph above. As we can estimate that the ‘uptrend’ in value by the 20-day EMA signifies the best return to all those that have invested in this asset. This altcoin is poised to offer the desired return and may expect to offer more and more. The “ascending top” elaborates that how the value experienced downtrend till date. The USDT/USD pair remained range bound from December 1 to December 16 this year, as the cryptocurrency rallied from a low of $0.9971 to a high of $1.0428 which is a 4.58 percent return within 15 days. However, based on the current trend, the next support level could be $1.045.

Litecoin Price Analysis – LTC/USD

LTC/USD

The 8th largest cryptocurrency by market cap – Litecoin with its current market cap stands at $1,872,509,050, 08:13 UTC on December 31 dropped in current value by 42.8% relative to the level of November 06 due to the strong bearish pressure; however the current value is up by 35% compared to December 13 as interpreted from the graph above. Since both moving averages have significantly declined to represent a negative sign. As the LTC/USD created the ‘uptrend in value from December 16 to December 26, however, today the current value traded in line with EMA suggests that the bears may have the upper hands for some time. Those that would like to invest into this cryptocurrency should wait until the next ‘uptrend’ created in value. The “descending bottom” elaborates that how the value experienced downtrend from attaining its November 05 level. Though moving averages continue to fall, the 14-day RSI has been forming a “positive divergence” in the recent past. This is a bullish sign. Now let us talk about the certain milestone that this cryptocurrency attained in the recent past. The LTC/USD pair remained range bound from September 12 to September 26 this year, as the cryptocurrency rallied from a low of $51.77 to a high of $65.70 which is a 26.9 percent return within 14 days. However, based on the current trend, the next support level could be $32.

Bitcoin SV Price Analysis – BSV/USD

BSV/USD

The 9th largest cryptocurrency by market cap – Bitcoin SV with its current market cap stands at $1,526,535,107, 08:13 UTC on December 31 dipped in current value by 22.10% relative to the level of December 20 due to the strong bearish pressure; however the current value is believed to have gained by 26.9% compared to December 15 as interpreted from the graph above. Since both moving averages have significantly declined which shows a negative sign. Today the current value traded below 20-day EMA suggests that the bears may have the upper hands for some time. Those that would like to invest into this cryptocurrency should wait until the next ‘uptrend’ created in value. Though moving averages continue to fall, the 14-day RSI has been forming a “positive divergence” in the recent past. This is a bullish sign. Now let us talk about the certain milestone that this cryptocurrency attained in the recent past. The BSV/USD pair remained range bound from November 23 to December 07 this year, as the cryptocurrency rallied from a low of $42.96 to a high of $113 which is a 163 percent return within 14 days. However, based on the current trend, the next support level could be $89.

Tron Price Analysis – TRX/USD

TRX/USD

The 10th largest cryptocurrency by market cap – Tron with its current market cap stands at $1,311,343,499, 08:13 UTC on December 31 dipped in current value by 20.35% relative to the level of November 06 due to the strong bearish pressure; however the current value is believed to have gained by 69% compared to November 26 as interpreted from the graph above. Since both moving averages have significantly down represented a negative sign since November 07, however current value has created “uptrend” in value as interpreted by 20-day EMA from the above graph. Those that long awaited to invest into this cryptocurrency, this time looks more fruitful as the altcoin – Tron has started offering the desired return. The “descending bottom” elaborates that how the value experienced downtrend since November 06. Now let us talk about the certain milestone that this cryptocurrency attained in the recent past. The TRX/USD pair remained range bound from September 17 to October 07 this year, as the cryptocurrency rallied from a low of $0.0186 to a high of $0.027 which is a 45 percent return within 20 days. However, based on the current trend, the next support level could be $0.020.

Cardano Price Analysis – ADA/USD

ADA/USD

The 11th largest cryptocurrency by market cap – Cardano with its current market cap stands at $1,098,503,081, 08:13 UTC on December 31 declined in current value by 47.5% relative to the level of November 06 as the macro factors, and the strong bearish pressure caused a drop in value, however, the current value is high by 55.8% compared to December 15 as interpreted from the graph above. Since both moving averages have significantly declined since November 13, however, the current value has created ‘uptrend’ as interpreted from the graph above. The current value trades above the 20-day EMA signifies that fact this altcoin offers tremendous benefits in value due to the bullish pattern created. Those that long-awaited to invest in this asset, the current scenario offers the best opportunity to invest. Now let us talk about the certain milestone that this cryptocurrency attained in the recent past. The ADA/USD pair remained range bound from October 10 to November 05 this year, as the cryptocurrency rallied from a low of $0.069 to a high of $0.0820 which is an 18.84 percent return within 26 days. However, based on the current trend, the next support level could be $0.044.

IOTA Price Analysis – MIOTA/USD

MIOTA/USD

The 12th largest cryptocurrency by market cap – IOTA with its current market cap stands at $983,424,019, 08:13 UTC on December 31 dropped in current value by 29.73% relative to the level of November 05 due to the strong bearish pressure; however the current value is believed to have gained by 63.84% compared to December 14 as interpreted from the graph above. The current ‘uptrend’ in value elaborates the fact that how this altcoin offers the tremendous benefits to all those that have invested. Amid this, the “descending bottom” elaborates that how the value experienced downtrend since November 14. The moving averages continue to fall besides creating the ‘uptrend’ in value today. The 14-day RSI has been forming a “positive divergence” in the recent past. This is a bullish sign. Now let us talk about the certain milestone that this cryptocurrency attained in the recent past. The IOTA/USD pair remained range bound from September 09 to September 21 this year, as the cryptocurrency rallied from a low of $0.52 to a high of $0.6359 which is a 22.28 percent return within 12 days. However, based on the current trend, the next support level could be $0.37.

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Shalin Soni

Shalin joined CryptoNewsZ as Associate Finance (Cryptocurrency Research & Analysis) in 2018 and has 10 years of collective experience to work on financial modeling and financial planning & analysis activities (fp&a) domains. He has worked with various organizations in India and added values by leveraging his skills and expertise. He has strong domain expertise in research & analysis, valuation, and fp&a!! You can also mail him at [email protected] to discuss anything related to his reports.
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