Price Analysis for December 9th: Review of Key Cryptocurrency and Index Performance Including SPX, DXY, Bitcoin, Ethereum, Ripple, Solana, Binance Coin, Dogecoin, Cardano, and Avalanche.

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XRP price to $5 next? 3 charts suggest that the historic rally isn’t overDogecoin price analysisThe bulls tried to push DogecoinDOGEabove $0.48 on Dec. 8, but the bears held their ground.DOGE/USDT daily chart. Source: Cointelegraph/TradingViewThe upsloping 20-day EMA ($0.41) and the RSI in the positive zone indicate that the path of least resistance is to the upside. If buyers propel the price above $0.48, the likelihood of a rally above the channel’s resistance line increases. The DOGE/USDT pair could jump to $0.60.This positive view will be invalidated in the near term if the price turns down and breaks below the channel. That could accelerate selling and pull the price to $0.33.Cardano price analysisThe long tail on Cardano’sADADec. 9 candlestick shows that the bulls are trying to defend the 50% Fibonacci retracement level of $1.10.ADA/USDT daily chart. Source: Cointelegraph/TradingViewBuyers will have to drive the ADA/USDT pair above the $1.25 to $1.33 resistance zone to signal the resumption of the uptrend. The pair could surge to $1.64, which is expected to act as a stiff resistance.On the downside, sellers will have to sink the price below the 20-day EMA ($1.05) to gain the upper hand. The pair could then plunge to $0.87. Such a deep fall could delay the start of the next leg of the uptrend.Avalanche price analysisAvalancheAVAXtried to resume the up move on Dec. 8, but the bears pulled the price back below the breakout level of $51 on Dec. 9.AVAX/USDT daily chart. Source: Cointelegraph/TradingViewIf sellers sustain the price below $51, the AVAX/USDT pair could drop to the 20-day EMA ($46.18). A strong bounce off the 20-day EMA will signal buying on dips. The bulls will then make one more attempt to push the pair above $56. If they do that, the pair may climb to $60 and subsequently to $65.Alternatively, a break and close below the 20-day EMA will suggest that the bulls are losing their grip. The pair may then slump to $38.Explore more articles like thisSubscribe to the Markets Outlook newsletterGet critical insights to spot investment opportunities, mitigate risks, and refine your trading strategies. Delivered every MondaySubscribeBy subscribing, you agree to ourTerms of Services and Privacy PolicyThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.