Price Predictions 12/3: BTC, ETH, XRP, BNB, SOL, DOGE, ADA

ETH is gearing up for another volatility-filled day as one of the most anticipated events of the year finally takes place.

The price surged higher the previous day as the market flipped bullish. Investors expect further increases on Wednesday following the Fusaka upgrade. ETH may see further gains in the coming hours as buying pressure builds.

The apex altcoin is not the only big mover. SUI experienced an over 29% hike in the last 24 hours, making it the top gainer in the top 100. Additionally, the global cryptocurrency market surged by almost 7% during this period.

Indicators on the 4-hour chart are currently positive, suggesting a considerable chance of further upside. It edges closer to the first pivot resistance, and if it flips, its current trading action remains the same.

With regard to fundamentals, optimism returned to the market following Monday’s decline. The upcoming FOMC meeting is a major catalyst as investors anticipate a rate cut in the coming days. The crypto market may continue its uptrend until the event.

Aligning with the speculation is the Fear and Greed Index. The metric is up six points from the previous day’s reading.

The crypto market may experience further increases on Wednesday. Let’s examine how assets in the top 10 will perform.

BTC/USD

Bitcoin is trading at $92,900 after a failed attempt at $94k. Its current candle on the 4-hour chart is red following its failure to break the resistance. Looking at the previous and current candles raises concerns about how prices may perform in the coming days.

Both representations suggest that selling continues to surge after testing $94k. Additionally, combining current trading action with the previous day’s, fosters a growing fear of price retracement.

However, indicators on the 4-hour chart remain positive amid the slight shift in the trajectory. It is worth noting that the moving average convergence divergence had a bullish crossover on Tuesday. The trend remains in play, hinting at an increased chance of further upside.

The bollinger bands also suggest that the apex coin will flip $94k. BTC is trading a few thousand below the upper band. Nonetheless, if the current selling pressure persists, the asset may slip below $90k.

ETH/USD

Ethereum gained over 7% on Tuesday, erasing the losses it incurred at the start of the week. ETH continues its surge on Wednesday, climbing.

The euphoria of the Fusaka upgrade spurred significant buying pressure. As a result, it broke its seven-day high and has maintained trading above it for most of the day.

However, the 4-hour chart reveals a gradual drop in upward momentum. A closer look at the above image shows several small candles after a very long one. Nonetheless, the asset is crawling higher and edging closer to breaking out of the bollinger bands.

A breakout will be met by notable selling pressure, painting a grimmer picture of how prices may react in the coming days.

Based on BB, ETH may attempt $3,200 before retracing. The relative strength index aligns with the bollinger bands as it trends at 68. A further price increase will make the altcoin overbought. In summary, the coin may surge higher, but the upward momentum will eventually wane.

XRP/USD

Like ETH, XRP had a significant hike on Tuesday, gaining over 6%. The surge is ongoing, and the altcoin is up by almost 2%. However, the 1-day chart shows a long wick extending from the candle representing Wednesday.

Switching to the 4-hour chart indicates that the coin has been mostly rangebound all day. It trended between $2.20 and $2.14 with a brief breakout. Indicators remain positive amid consolidation. 

However, previous price action suggests that the rangebound movement may precede a decline. In the event of the momentum waning, XRP may slip below $2.10. Conversely, the positive indicators point to a surge above $2.25.

BNB/USD

BNB is approaching its seven-day high after an earlier rejection. The 1-day chart shows that $910 has become a significant sell wall, as the asset has failed to break it on multiple occasions.

Up by over 3% on Wednesday, current prices indicate that buyers are sustaining the pressure amid prior rejections. Indicators suggest that the asset may break above the mark again.

One such indicator is the bollinger bands, which show BNB trading close to the upper line. It is yet to test the mark as it sits at $920. To break it, the coin must flip $910, and RSI reveals room for such an uptick.

SOL/USD

Solana gained a whopping 9% on Tuesday, surging from $126 to $140. Like ETH, it is experiencing further gains on Wednesday, up by almost 2%. 

SOL is trading at $141, $3 below its high, suggesting a slight decline in upward momentum. The 1-day chart suggests the uptrend resumed after failing to decisively break above $144. Previous price action indicates that several upticks ended at this level.

The 4-hour chart aligns with the readings from the larger timeframe. SOL tested bollinger’s upper band a few hours ago and has since grappled with increased selling pressure. The asset may dip below $134 in the coming days.

DOGE/USD

DOGE is trading at $0.150 and edging closer to its second consecutive day of gains. It has gained almost 4% since the start of the day, and the 1-day chart has further upside. The asset is yet to retest its seven-day high at $0.155 amid its uptrend.

However, the 4-hour chart shows that the memecoin is experiencing the same trend as most cryptocurrencies: a gradual decline in upward momentum. While DOGE trades close to its high, the previous candle shows that it had a notable decline but rebounded.

The asset risks further decline if it fails to decisively break the day’s high, as there is gradual selling congestion around it.

ADA/USD

The 1-day chart shows that Cardano is trading at $0.44, slightly below its high. Nonetheless, it is trading above its seven-day high and has gained almost 2% since the start of Wednesday.

Switching to the 4-hour chart indicates that the coin has been mostly rangebound all day. It trended between $0.44 and $0.43 with a brief breakout. Indicators remain positive amid consolidation. 

In the event of a downtrend, ADA may slip below $0.41 in the coming days.  Nonetheless, it is worth noting that the asset has yet to test the upper bollinger band, suggesting a slim chance of further increases. 

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