![Price analysis 12/9: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, UNI 1 cointg](https://thespuzz.s3.ap-south-1.amazonaws.com/thespuzz/uploads/2022/08/05192952/cointg.png)
The United States equities markets are headed for a down week as market participants remain cautious ahead of next week’s key consumer price index data for November.
The CPI report will be followed by the Federal Reserve’s Federal Open Market Committee meeting on Dec. 13-14 where the central bank is expected to hike rates by 50 basis points, according to the FedWatch Tool.
The outcome of the events next week could increase the volatility in Bitcoin (BTC) and result in a trending move.
Also Read : What is stagflation, and how could it impact the cryptocurrency markets?
After a terrible year that saw some high-profile cryptocurrency companies go bust, the bulls will expect 2022 to end on a strong note. Bears will also try to maintain their stronghold and extend the decline in the next year.
What is the path of least resistance in Bitcoin and altcoins? Let’s study the charts of the top-10 cryptocurrencies to find out.
BTC/USDT
The bulls successfully held the $16,787 support on Dec. 7, indicating strong demand at lower levels. Buyers propelled Bitcoin back above the 20-day exponential moving average ($17,004) on Dec. 8.
![Price analysis 12/9: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, UNI 2 fe95a092 523d 4ba7 951f b98c031dc1c4](https://s3.cointelegraph.com/uploads/2022-12/fe95a092-523d-4ba7-951f-b98c031dc1c4.png)
The flat 20-day EMA and the relative strength index (RSI) near the midpoint suggest a possible range-bound action in the near term. Usually, tight range trading is followed by a range expansion, which leads to a trending move.
At times, the first breakout tends to be a fake move, hence traders could wait for a confirmation before jumping on to take the trade.
If the price breaks above the resistance zone between $17,622 and the 50-day simple moving average ($18,046), the BTC/USDT pair could signal a potential trend change. The pair could then attempt a rally to $20,000 and later to $21,500.
Conversely, if the price breaks below $16,787, the bears will try to pull the pair to the pivotal support at $15,476.
ETH/USDT
Ether (ETH) broke below the 20-day EMA ($1,254) on Dec. 7 but the bears could not sustain the lower levels. The bulls bought the dip and pushed the price back above the 20-day EMA on Dec. 8.
![Price analysis 12/9: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, UNI 3 9d112e25 e81d 4c12 a14e 75214d1fd5aa](https://s3.cointelegraph.com/uploads/2022-12/9d112e25-e81d-4c12-a14e-75214d1fd5aa.png)
Buyers will once again strive to thrust the price above the overhead resistance at the 50-day SMA ($1,331). If they can pull it off, the ETH/USDT pair could surge toward the resistance line of the descending channel.
On the contrary, if the price turns down from the 50-day SMA, it could keep the pair stuck inside the range for a few days. The flat moving averages and the RSI just above the midpoint also indicate a consolidation in the short term.
The advantage could tilt in favor of the bears if the price turns down and breaks below $1,212.
BNB/USDT
BNB (BNB) closed below the $285 support on Dec. 7 but the bears could not capitalize on this opportunity. The bulls purchased the dip and have pushed the price to the 20-day EMA ($291).
![Price analysis 12/9: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, UNI 4 1d728803 5452 4d70 9ed2 4a944e28d70a](https://s3.cointelegraph.com/uploads/2022-12/1d728803-5452-4d70-9ed2-4a944e28d70a.png)
The flattening moving averages and the RSI above 48 suggest a balance between supply and demand. This could result in a volatile range-bound action in the near term but the boundaries of the range are not yet defined.
If the price turns down from the moving averages, the bears will try to yank the BNB/USDT pair below $281. If that happens, the selling could accelerate and the pair may slide to $275 and later to the strong support at $250. If bulls want to gain the upper hand, they will have to push and sustain the price above $300.
XRP/USDT
XRP (XRP) turned up from the strong support of $0.37 on Dec. 7, indicating that bulls are buying the dips. This is the second occasion when bulls have defended this level, hence $0.37 becomes an important level to keep an eye on.
![Price analysis 12/9: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, UNI 5 5827bbfa 7146 4251 9f73 8425fb18e216](https://s3.cointelegraph.com/uploads/2022-12/5827bbfa-7146-4251-9f73-8425fb18e216.png)
The 20-day EMA is flattish and the RSI is near the midpoint, implying that the XRP/USDT pair could remain stuck between $0.37 and $0.41 for some time.
If buyers drive the price above the 20-day EMA, the pair could rally to $0.41. This level may act as a major barrier for the bulls but if they manage to overcome it, the pair could pick up momentum and rally toward $0.51.
If the price turns down from the 20-day EMA, the bears will again try to sink the pair below $0.37 and strengthen their hold. If they manage to do that, the pair could decline to $0.34.
ADA/USDT
Cardano (ADA) is consolidating in a downtrend and the positive divergence on the RSI suggests that the selling pressure could be reducing.
![Price analysis 12/9: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, UNI 6 cc33c39d 5566 4ac3 bda2 2728e864eacf](https://s3.cointelegraph.com/uploads/2022-12/cc33c39d-5566-4ac3-bda2-2728e864eacf.png)
Buyers have an opportunity to start a recovery by pushing the price above the 20-day EMA ($0.32). If they do that, the ADA/USDT pair could attempt a rally to the downtrend line. The 50-day SMA ($0.35) may offer minor resistance but it is likely to be crossed.
If bulls fail to clear the 20-day EMA quickly, the possibility of a break below the critical support of $0.29 increases. That could signal the resumption of the downtrend and the pair may plummet to $0.27.
DOGE/USDT
The bulls bought the dip to the 50-day SMA ($0.09) on Dec. 7 but they are facing resistance at the psychological level of $0.10. This indicates that the bears have not yet given up and they continue to sell the rallies in Dogecoin (DOGE).
![Price analysis 12/9: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, UNI 7 24b107e6 23c2 4d42 a759 38f23193dcf6](https://s3.cointelegraph.com/uploads/2022-12/24b107e6-23c2-4d42-a759-38f23193dcf6.png)
If sellers pull and sustain the price below the 50-day SMA, the DOGE/USDT pair risks a drop to $0.08 and then to the vital support at $0.07.
Contrarily, if buyers sustain the price above the 50-day SMA, the pair could consolidate between $0.09 and $0.11 for a few days. The flattening 20-day EMA ($0.10) and the RSI just above the midpoint, also hint at a range-bound action in the near term. The bullish momentum could pick up above $0.11.
MATIC/USDT
Polygon (MATIC) slipped below the 20-day EMA ($0.90) on Dec. 7 but the long tail on the day’s candlestick shows that lower levels are attracting buyers.
![Price analysis 12/9: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, UNI 8 720ef161 4f41 4df4 b37b 29357010cd96](https://s3.cointelegraph.com/uploads/2022-12/720ef161-4f41-4df4-b37b-29357010cd96.png)
The bulls will try to keep up the buying pressure and push the price above the overhead resistance at $0.97. That could clear the path for a possible rally to $1.05 where the bears may again mount a strong defense.
Alternatively, if the price turns down from the current level or the overhead resistance, it will suggest that bears are active at higher levels. The next break below the 20-day EMA may pull the price to the uptrend line.
Related: Investors chase Web3 as blockchain industry builds despite bear market
DOT/USDT
Polkadot (DOT) took support at $5.24 on Dec. 7, indicating that the bulls are attempting to form a higher low in the near term but the bears continue to defend the 20-day EMA ($5.48) with vigor.
![Price analysis 12/9: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, UNI 9 bf0a35f0 414c 41a4 956a 71c38cdf6f73](https://s3.cointelegraph.com/uploads/2022-12/bf0a35f0-414c-41a4-956a-71c38cdf6f73.png)
If bears sink the price below the uptrend line, the Nov. 22 low of $5 could be retested. This is an important level for the bulls to defend because if they fail, the DOT/USDT pair could resume the downtrend. The pair could then slump to the next support at $4.32.
The first resistance to watch on the upside is the 20-day EMA. A close above this level could indicate that the bearish momentum could be weakening. The pair may then rise to the 50-day SMA ($5.86) and thereafter to $6.18.
LTC/USDT
Litecoin (LTC) bounced off the 20-day EMA ($74) on Dec. 8, indicating that the sentiment remains positive and traders are viewing the dips as a buying opportunity.
![Price analysis 12/9: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, UNI 10 fd5b5edb a40c 4700 9a9d 3f155d8fa3ab](https://s3.cointelegraph.com/uploads/2022-12/fd5b5edb-a40c-4700-9a9d-3f155d8fa3ab.png)
However, the negative divergence on the RSI suggests that the bullish momentum could be weakening. The important support to watch on the downside is the 20-day EMA and then $70. If this zone breaks down, it could lead to long liquidation and the LTC/USDT pair may slide to the 50-day SMA ($65).
If the price sustains above the 20-day EMA, the pair could consolidate between $75 and $85 for some time. A break above $85 could clear the path for a possible rally to $104.
UNI/USDT
Uniswap (UNI) remains inside a symmetrical triangle pattern, indicating indecision among the bulls and the bears. Buyers purchased the dip to the 20-day EMA ($5.97) on Dec. 8 but are struggling to sustain the higher levels.
![Price analysis 12/9: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, UNI 11 06c89c8e 843e 412b 8631 d2e0cb74f852](https://s3.cointelegraph.com/uploads/2022-12/06c89c8e-843e-412b-8631-d2e0cb74f852.png)
The price action inside a triangle is usually random and volatile. If the 20-day EMA support cracks, the UNI/USDT pair could gradually decline to the support line of the triangle. This level could attract buyers who will try to protect the support line.
The near-term advantage could shift in favor of the bulls if they propel the price above $6.55. The pair could then climb to the resistance line of the triangle. Buyers will have to overcome this hurdle to signal the start of a new uptrend.
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