Advertiser disclaimer

Crypto Price Predictions: Bitcoin, Ethereum, Binance Coin & Ripple – Key Levels to Watch This Week

author
author
Arslan is an expert live webinar speaker and derivatives analyst, specializing in cryptocurrencies, Forex, commodities, and indices. He holds an MBA in Finance and an MPhil in Behavioral Finance from the University of Gujrat (UOG), Pakistan. With many years of experience in cryptocurrency and Forex trading, Arslan currently focuses on cryptocurrency price predictions and forecasts. Arslan has previously worked with several brokerage firms’ Forex and cryptocurrency trading teams, managing client exposure risk. Arslan has worked at CAPEX.com and NatureForex.com, among others.
By Arslan Ali Butt
author
Arslan is an expert live webinar speaker and derivatives analyst, specializing in cryptocurrencies, Forex, commodities, and indices. He holds an MBA in Finance and an MPhil in Behavioral Finance from the University of Gujrat (UOG), Pakistan. With many years of experience in cryptocurrency and Forex trading, Arslan currently focuses on cryptocurrency price predictions and forecasts. Arslan has previously worked with several brokerage firms’ Forex and cryptocurrency trading teams, managing client exposure risk. Arslan has worked at CAPEX.com and NatureForex.com, among others.
on December 25, 2023 | 4 min
Updated on Dec 25, 2023
Advertiser disclaimer

As the festive week of Christmas and New Year unfolds, in our crypto price prediction, we will explore how the market is navigating crucial levels with key players like Bitcoin, Ethereum, Ripple, and Binance Coin. Bitcoin, trading around $43,400, is approaching resistance at $45,000, while Ethereum maintains bullish momentum above $2,280. Binance Coin’s notable rise to $268 and Ripple’s cautious trade at $0.6140 suggest a potentially eventful week as investors and traders watch for year-end movements in these leading digital assets.

 

Show more

Bitcoin Price Prediction

As we transition into the final week of December, Bitcoin’s technical outlook remains cautiously optimistic. The cryptocurrency has been hovering around the pivotal $43,400 mark, a critical juncture that could dictate its path as we approach 2024.

Key resistance levels for the week are eyed at $45,000, followed by more challenging ceilings at $45,700 and $45,900. Support, should Bitcoin retract, is anticipated at $42,200, with a further safety net at $40,900.

 

The 50-Day Exponential Moving Average (EMA), currently at around $43,100, is lending support to Bitcoin’s price, bolstering a bullish trend. This is echoed by the Relative Strength Index (RSI), which at a moderate 55, suggests a market in equilibrium—poised for potential growth without the immediate risk of being overbought.

Bitcoin’s chart patterns are not signaling significant momentum but rather indicate a steady consolidation phase, which could be the calm before an upward stride, especially if it maintains its stance above the pivot point and EMA.

Over the coming week, market participants looking to make a crypto price prediction will be watching to see if Bitcoin can sustain its position above these technical supports and challenge the $45,000 resistance. While the fundamentals suggest a bullish inclination, Bitcoin’s inherent volatility calls for vigilance, especially in light of the year-end festivities which can affect trading volumes and market sentiment.

 

BTC Forecast
BTC/USD Price Chart – Source: Tradingview

Ethereum Price Prediction

Ethereum, the second-largest cryptocurrency by market cap, has had a significant week, with its price action suggesting a bullish undertone as it floats above $2,280. The weekly chart points to a price prediction with the price holding well above the 50-week Exponential Moving Average (EMA) at approximately $1,856, a bullish indicator for sustained upward momentum.

The Relative Strength Index (RSI) presents a reading of 65, which is comfortably above the midline but not yet in the overbought region, signaling that there may still be room for upside before the market becomes saturated with buyers.

 

Ethereum is currently testing resistance near $2,550, with subsequent levels to watch at $2,800 and the psychologically significant $3,000 mark. Should a retracement occur, investors will look to the support at around $2,250 and further down at $1,910 to hold. A breach below these levels could see a test of the resilience around $1,856, which aligns with the 50 EMA.

This week’s Ethereum price movement appears to be forming an ascending trendline, suggesting a potential continuation of the uptrend if it can maintain its trajectory above the trendline and EMA. However, traders will be monitoring the $2,550 resistance closely; a conclusive weekly close above this level could signal further bullish potential in the weeks to follow.

 

ETH Forecast
ETH/USD Price Chart – Source: Tradingview

Binance Coin (BNB) Price Prediction

Binance Coin (BNB) has recently showcased a robust surge in its market value, registering an impressive 12.26% increase, bringing its price to $268. This upward movement positions BNB as a notable player in the cryptocurrency landscape. With a pivotal point at $258, BNB faces significant resistance levels at $306, $378, and $442. Should the coin experience a downturn, it can rely on established support levels at $185, $125, and $67.

The Relative Strength Index (RSI) for BNB stands at 60, indicating a strong bullish sentiment without reaching the overbought territory. This suggests that BNB has room for further growth. Additionally, BNB’s price is hovering above the 50-Day Exponential Moving Average (EMA) of $258, further affirming its bullish trend in the short term.

 

A key chart pattern observed in BNB’s trajectory is a descending triangle pattern with resistance extending at $257. The breakout from this pattern indicates potential for further bullish momentum. Given these technical indicators, the overall trend for BNB is bullish above the $257 mark, with expectations of challenging higher resistance levels in the near future.

Investors and traders are closely monitoring these developments, anticipating BNB’s next moves in the fast-paced crypto market.

 

BNB Forecast
BNB/USD Price Chart – Source: Tradingview

Ripple (XRP) Price Prediction

As of late, Ripple (XRP/USD) has demonstrated a cautiously optimistic stance in the cryptocurrency market. Trading at $0.6140, it has witnessed a modest uptick of 0.75%. Ripple’s current position reflects a delicate balance on the weekly timeframe, with a pivot point established at $0.5780. Looking ahead, Ripple faces substantial resistance levels at $0.7372, $0.8994, and $1.0908. In contrast, support levels at $0.4259, $0.2994, and $0.1696 offer potential safety nets in case of a downturn.

 

The Relative Strength Index (RSI) sits at 55, indicating a neutral to slightly bullish sentiment. This suggests that Ripple is neither overbought nor oversold, providing room for potential growth or decline. Moreover, Ripple’s current price surpasses its 50-Day Exponential Moving Average (EMA) of $0.5460, hinting at a short-term bullish trend. However, a symmetrical triangle pattern on the charts signals a consolidation phase, suggesting a potential breakout in either direction.

 

In conclusion, in our Crypto price prediction for Ripple, the coin exhibits a bullish trend above the $0.5460 mark. Moving forward, it is anticipated that Ripple will challenge its immediate resistance levels. This positive outlook, however, hinges on the crypto’s ability to maintain its current momentum and navigate through key technical levels.

 

XRP Forecast
XRP/USD Price Chart – Source: Tradingview
author
About Arslan Ali Butt
Arslan is an expert live webinar speaker and derivatives analyst, specializing in cryptocurrencies, Forex, commodities, and indices. He holds an MBA in Finance and an MPhil in Behavioral Finance from the University of Gujrat (UOG), Pakistan. With many years of experience in cryptocurrency and Forex trading, Arslan currently focuses on cryptocurrency price predictions and forecasts. Arslan has previously worked with several brokerage firms’ Forex and cryptocurrency trading teams, managing client exposure risk. Arslan has worked at CAPEX.com and NatureForex.com, among others.
Other categories