Bitcoin‘s price rose following the statement by Fed member Daly that there could be interest rate cuts next year. However, it was not expected that Bitcoin would show a sustained increase above $42,500, and significant gains were not anticipated until the announcement of the PCE data on Friday.
For Bitcoin, the flattening of the 20-day EMA and the RSI being near the midpoint suggest that an increase in volatility may be imminent. If the price falls below $40,000, there could be a pullback to the support level of $37,980. If the price rises and stays above the 20-day EMA, it is expected that Bitcoin will seek closures above $44,700 to continue its upward trend.
Ethereum (ETH) is struggling to maintain the $2,200 level, and if this continues, it could fall to $2,074. If the price rises above $2,200, this bearish outlook will be invalidated in the short term, and a move towards the $2,332 region will begin.
For Binance Coin (BNB), the bulls’ inability to push BNB above $260 led to short-term investors taking profits. There was a pullback below the moving averages on December 18; if the price stays below $240, this could be risky. In a possible decline scenario, the $223 region could be tested by Sunday.
For XRP Coin, bears are trying to pull the price down to the strong support at $0.56, but so far, they have been unsuccessful due to the recovery in the Bitcoin price. If the price can stay above the 20-day EMA ($0.62), $0.73 could be tested. Otherwise, the target will be $0.56.