Bitcoin is struggling to find support near $88,000, with US and global factors impacting the market. Traders are wary of a potential trade war between the US and EU. Veteran trader Peter Brandt predicts BTC could drop to $58,000 to $62,000, but also acknowledges he could be wrong 50% of the time.
Tom Lee from Fundstrat warns of a possible decline in stock and crypto markets in 2026, but expects a strong finish to the year, possibly leading to a new all-time high for BTC. Charts show that buyers are trying to reverse the decline in BTC and major altcoins, but bears are still putting pressure on the market.
Ether has fallen below moving averages, with bulls trying to defend the support line. The weak bounce indicates bearish pressure, and a break below the support line could send ETH to $2,623. Bulls need to push the price above moving averages for a positive momentum shift.
BNB’s pullback below the 50-day SMA suggests resistance at $928. Price may dip to the uptrend line with potential support, but a break below could test $790. Buyers need to push the price above $959 to gain control and possibly reach $1,087.
XRP remains below moving averages, with bears aiming for $1.77 and $1.61 support levels. Buyers must defend the support zone to keep the pair within a descending channel pattern. Breaking above the downtrend line could lead XRP to $2.70.
Solana’s break below the 50-day SMA hints at a range-bound price between $117 and $147. A drop below $117 could signal a downtrend, while a close above $147 may indicate a trend change towards $189.
Dogecoin at $0.12 support faces resistance at the 20-day EMA ($0.13). A sharp downturn increases the risk of breaking below $0.12 support. A break above moving averages could lead to a range-bound price between $0.12 and $0.16.
Cardano is seeking support near $0.33, but recovery may face selling pressure between moving averages and downtrend line. A sharp downturn could send ADA to $0.27, while breaking above the downtrend line may lead to $0.50.
Read more at Cointelegraph: Bitcoin, Altcoin Sell-off As Global Tensions Lead Traders To Cut Risk