Price Analysis for Bitcoin, Ethereum, and Other Top Cryptocurrencies on December 6th

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Crypto Market Analysis

The crypto market has been experiencing significant fluctuations lately. Here’s an analysis of the top cryptocurrencies by market capitalization.

Bitcoin (BTC): Not analyzed in this article, as it’s not one of the top 10 coins.

Ethereum (ETH): Not analyzed in this article, as it’s not one of the top 10 coins.

Top 10 Cryptocurrencies

1. Dogecoin (DOGE): Trading inside an ascending channel pattern, indicating a slight advantage to bulls.
   • Resistance at $0.46
   • Break and close below channel’s support line may indicate weakness in bulls’ grip.
2. Cardano (ADA): Turned down from overhead resistance of $1.33 on Dec 3, indicating profit booking by select traders.
   • Support near $1.10, the 50% Fibonacci retracement level
   • Buyers will try to drive ADA/USDT pair above $1.33, potentially reaching $1.50.
3. Shiba Inu (SHIB): Tried to push above overhead resistance of $0.000033 on Dec 5 but bears held ground.
   • Rising 20-day EMA ($0.000027) and RSI in positive territory indicate advantage to buyers
   • Buyers will try to push SHIB/USDT pair above $0.000033, potentially reaching $0.000039.
4. Dogecoin (DOGE): Similar to the previous point, trading inside an ascending channel pattern with resistance at $0.46.
5. Cardano (ADA): Similar to the third point, turned down from overhead resistance of $1.33 on Dec 3 and finding support near $1.10.
6. Avalanche (AVAX): Witnessing a tough battle between bulls and bears near $51 level
   • Upsloping 20-day EMA ($44.09) and RSI in overbought zone indicate bulls are in command
   • Buyers will try to push AVAX/USDT pair above $56, potentially reaching $60 and later $65.
7. Toncoin (TON): Bulls finding it difficult to sustain TON above $7 resistance but remaining above 20-day EMA ($6.29).
   • Buyers will try to maintain price above $7, potentially reaching $7.65
8. Shiba Inu (SHIB): Similar to the fourth point, trading inside an ascending channel pattern with resistance at $0.000033.
9. Cardano (ADA): Similar to the third and fifth points, turned down from overhead resistance of $1.33 on Dec 3 and finding support near $1.10.
10. Avalanche (AVAX): Witnessing a tough battle between bulls and bears near $51 level

Other Cryptocurrencies

• Avalanche (AVAX): Upsloping 20-day EMA ($44.09) and RSI in overbought zone indicate bulls are in command
• Toncoin (TON): Bulls finding it difficult to sustain TON above $7 resistance but remaining above 20-day EMA ($6.29)
• Shiba Inu (SHIB): Trading inside an ascending channel pattern with resistance at $0.000033

Note: This analysis is for informational purposes only and should not be considered investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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