Cryptocurrency prices remained on edge as Bitcoin neared the all-time high of $109,200 and the fear and greed index approached the important greed zone of 60. Most coins will likely bounce back as investors wait for the potential approval of a Strategic Bitcoin Reserve. So, here are predictions of some top cryptocurrencies like Binance Coin, Sui, and Dogecoin.
Binance Coin (BNB)
The Binance Coin price peaked at $792.96 on December 4 and then pulled back to the current $692. It retreated even as the Binance Smart Chain network continued firing on ll cylinders with surging DEX volume.
The BNB coin has remained above the 50-day moving average, a sign that investors are still bullish. However, there are signs that it has formed a rising wedge chart pattern, which is made up of two ascending channels. The two lines have a long way to get to their confluence levels, meaning that the ongoing consolidation may continue.
Therefore, the short-term outlook for the coin is neutral and that it will remain between the support and resistance levels at $700 and $775. The coin may have a strong bearish breakdow if the wedge chart pattern works out. Such a drop may see it drop to $600.
On the positive side, the BNB price has formed a cup and handle pattern on the weekly chart. This is one of the most bullish chart patterns that implies that it may jump to over $1,000.
Sui (SUI)
Sui price has been in a strong bullish trend in the past few months, making it one of the best-performing coins in the crypto industry. The token soared from $0.466 in August last year to $5.3647. This surge also coincided with the growing volume in its DeFi and DEX ecosystems.
Sui token has moved above the 50-day moving average, a bullish sign. The coin has formed an ascending channel and has just moved above its lower side. It has remained above the Ichimoku cloud indicator.
Therefore, the Sui price will likely continue rising as buyers target the crucial resistance at $5.3647, which is about 13% above the current level.
Dogecoin (DOGE)
The price of Dogecoin price rose as the odds that the Securities and Exchange Commission will approve a spot DOGE ETF jumped. Rex Shares, an asset manager with over $8 billion in assets, filed for a DOGE fund.
Dogecoin has, however, struggled a bit after several organizations fled lawsuits against Elon Musk’s Department of Government Efficiency. On the positive side, the coin has moved above the 50-day moving average and the Ichimoku cloud indicator.
Therefore, the Dogecoin price will likely continue soaring as bulls target the key resistance at $0.50, which is the 61.8% Fibonacci extension level.
