Price Predictions 12/12: Btc, Eth, Bnb, Xrp, Sol, Doge, Ada, Bch,...

Bitcoin and several major altcoins have turned down from their respective overhead resistance levels, indicating that the bears are still very active at the range highs.

The failure of the bulls to maintain Bitcoin above $94,050 has renewed selling, opening the doors for a fall to $87,700 and then to $84,000.

Most major altcoins remain under pressure and are threatening to challenge their recent lows.

Bitcoin (BTC) is stuck inside a narrow range between $94,588 and $89,260, indicating indecision between the bulls and the bears. The prediction markets do not expect the bulls to take charge in the near term, giving only a 30% chance of BTC hitting $100,000 before Jan. 1.

According to crypto analyst Darkfost, BTC is struggling to recover due to a lack of incoming liquidity, specifically from stablecoins. The crypto markets will have to attract new liquidity for BTC to start a “genuine bullish trend.”

Select analysts expect BTC to fall below the recent low of $80,600. Trader Roman said in a post on X that BTC is likely to drop to $76,000, and that falling interest rates will not be able to prevent it.

What are the crucial support and resistance levels to watch out for in BTC and major altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

BTC’s recovery is facing resistance at the 50% Fibonacci retracement level of $94,050, indicating that the bears are active at higher levels.

There is support at $87,700 and then at $84,000. A break below the $84,000 level opens the gates for a retest of the Nov. 21 low of $80,600.

Buyers will need to push the Bitcoin price above the $94,050 resistance level to signal strength. The BTC/USDT pair may then climb to the 50-day simple moving average ($97,411).

Source: CoinTelegraph