Shiba Inu (SHIB) price has popped above a descending trend line dictating price action since the beginning of December. With this bullish signal, more investors are joining the rally, driving the Relative Strength Index (RSI) higher. Expect this to be the start of a Christmas rally that will go into New Year with a first price target at $0.00004490, the 61.8% Fibonacci level.
Bitcoin price finds support near the $48,000 value area, creating a buying opportunity before its next major breakout. Next, Ethereum price develops a trifecta of significant breakout levels at the $4,300 value area. Finally, XRP price begins a broader move towards the $3.00 value area with an initial resistance test at $1.38.
Cardano (ADA) price is seeing bullish signs as market sentiment turns positive for cryptocurrencies. Expect buying activity to persist throughout the day with a near-term target at $1.40. By Christmas expect $1.70 to come into view after a break above the black descending trend line and the $1.67 historical level. As this rally continues, there is a good chance it will extend into the New Year.
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