Bitcoin’s price has seen a sharp rally toward $100,000 despite dipping below the $95,000 level. MicroStrategy and MARA Holdings, two of the largest corporate holders of Bitcoin, have continued to build their stockpile with fresh purchases in recent weeks.
The bulls are trying to maintain Cardano ADA above its $1.15 overhead resistance, signaling the resumption of the uptrend. Meanwhile, Avalanche AVAX has sprinted toward $51, where the bears are likely to mount a strong defense.
In other cryptocurrencies, Solana SOL has pulled below the 20-day EMA ($230), indicating that the bulls are losing their grip. However, minor support is at $222, and if the level gives way, the SOL/USDT pair could slide to its breakout level of $210.
The bears have aggressively defended BNB’s overhead resistance of $687, with the 20-day EMA ($635) serving as the first support on the downside. Dogecoin DOGE has formed an outside-day candlestick pattern, indicating a tough battle between the bulls and the bears.
These cryptocurrencies are closely watched by investors, but it is essential to conduct your own research when making investment decisions.
Source: https://cointelegraph.com/news/price-analysis-12-2-spx-dxy-btc-eth-xrp-sol-bnb-doge-ada-avax