#ChristmasMarketAnalysis

As of December 23, 2024, the cryptocurrency market is experiencing notable movements across major assets such as Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), and Solana (SOL).

Bitcoin (BTC)

$95,170.00

-$1,341.00(-1.39%)Today

Bitcoin (BTC): After reaching a peak above $100,000, Bitcoin has experienced a decline, currently trading around $95,170. Analysts suggest that the break below the short-term rising trendline indicates a potential retracement. Key support levels to monitor are near $94,850, with resistance around $97,675 to $100,900.

Binance

Ethereum (ETH): Ethereum has also faced downward pressure, trading near $3,300. The price turned down from the overhead resistance of $4,094 on December 16, indicating that bears are aggressively defending this level. The 20-day EMA at $3,775 is a crucial level to watch; a rebound could signal a move toward $4,500, while a break below may lead to further declines toward the downtrend line.

TradingView

Binance Coin (BNB): BNB is trading around $665.58. Recent analysis suggests that if BNB stabilizes above $661, it may initiate a rebound with resistance levels at $669, $676, and $692. Failure to hold above $661 could lead to declines toward support levels at $652, $642.3, and $630.7.

Binance

Solana (SOL): SOL is currently priced around $182.91. The price has been fluctuating between $220 and $255, showing strong momentum. In the past month, it's up over 45%, signaling significant growth. Analysts are targeting a rebound toward $250, with key levels to watch at $183 for support and resistance at $187.8, $193.9, and $197.3.

Brave New Coin

Binance

Overall, the cryptocurrency market is exhibiting volatility with potential for both upward rebounds and further declines. Traders and investors should closely monitor key support and resistance levels, along with market sentiment, to inform their strategies during this period.