Crypto Price Analysis December-12: ETH, XRP, ADA, BNB, and HYPE

This Friday, we examine Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid in greater detail.

Ethereum (ETH)

This week, Ethereum held well above $3,000 and is up by 3.5%. Because of this, bulls are currently challenging the $3,342 resistance. A break above this level would open the way for ETH to revisit $4,000 in the future.

Moreover, the 3-day MACD just completed a bullish cross. The last time this happened was in July and was followed by a 90% rally. Hopefully this bullish momentum holds and allows the price to expand higher.

Looking ahead, this is the first time in months when Ethereum is giving a clear signal that it wants to reverse the downtrend and rally again. A break above $3,342 would confirm this.

Ripple (XRP)

XRP remained in the red this week and closed with a 2% loss. While this is not a lot, the risk is that buyers may soon lose the support at $2. If so, the downtrend is likely to continue towards lower price levels.

If $2 turns into a resistance in the days to come, then bulls will retreat to the $1.8 support where the price bounced hard in the past. The momentum on the weekly chart is also bearish.

Looking ahead, XRP could bounce if the overall market is pulled up by market leaders such as Ethereum. However, for that to happen, the $2 support has to remain intact.

Cardano (ADA)

Surprisingly, ADA continued to hold above 40 cents for a third week which allowed its price to close in green with a modest 2% gain. So far, any attempts from buyers to take ADA back to 50 cents was rejected, but with each try, buyers increased their chances of success.

Similar to Ethereum, on the 3-day MACD, a bullish cross appears imminent. This could turn into the catalyst needed for Cardano to break the 50 cents resistance and start a new rally.

Looking ahead, ADA is giving some early signs of strength, but buyers need to increase their volume if they want to capitalize on this opportunity to break higher.

Binance Coin (BNB)

Binance Coin appears to have found good support around $800 and is at similar price levels to last week. Sellers were unable to push it lower and now buyers are testing the resistance at $900.

The more pressure builds up under this resistance, the more significant the eventual breakout. Considering that sellers appear exhausted, BNB may soon have an opportunity to reclaim $900 as support and then work its way back towards a $1,000 valuation.

Looking ahead, this cryptocurrency could have a relief rally later in December since bears appear unable to push the price lower at this time.

Hype (HYPE)

HYPE continued to underperform this week after the price fell by 7%. This makes it the worst performer on our list and places the price in a clear downtrend. At the time of this post, bulls and bears are fighting at the $30 level which is being contested.

The winner will decide where HYPE will go next. Should bears turn victorious, then the price will likely fall towards $24 next. If not, bulls have a clear shot at reclaiming $34 after they confirm $30 as support.

Looking ahead, this cryptocurrency appears to be stuck into a falling wedge. This is a bullish pattern that will become confirmed if the price escapes above it and moves towards $34.

The post Crypto Price Analysis December-12: ETH, XRP, ADA, BNB, and HYPE appeared first on CryptoPotato.