South Korea'due south central bank plans to recruit boosted digital currency experts to build on its existing research into central bank digital currency (CBDC). Along with its own research, the bank too plans to discuss the developments of CBDCs with the Depository financial institution of International Settlements and other international organizations.

While the larger economies are mulling launching or researching about CBDCs, the Central Depository financial institution of the Bahamas is expected to launch its digital currency pilot in one of the districts on December. 27. It plans to expand the project to another district in the outset-half of 2022.

Daily cryptocurrency market performance. Source: Coin360

The cardinal banking company of Russia, along with exploring the launch of its own digital currency, has besides started testing stablecoins that are pegged to real assets. However, Elvira Nabiullina, Russia's central banking concern head, has said that though the banking company is studying potential uses of stablecoins, it does not "assume that they will function equally a means of payment and become a surrogate for money."

These developments show that the central banks have started to recognize the advantages of cryptocurrencies simply are not willing to have it openly. Even so, as cryptocurrencies find greater adoption in the real world, the central banks volition be forced to upwards their game to keep up with the competition. This is probable to prove beneficial for crypto prices. Let'southward see if we spot whatsoever buying opportunities in the major cryptocurrencies.

BTC/USD

Bitcoin (BTC) has held the starting time support at $7,000. This is a positive sign as it shows the willingness of the bulls to buy at college levels rather than wait for more than downside. The 20-mean solar day EMA is apartment and the RSI is close to the midpoint, which suggests that the selling pressure level has reduced.

BTC USD daily chart. Source: Tradingview

Even so, unless the price quickly bounces off the current levels, the bears will resume their efforts to sink the price below $7,000. A break below $7,000 can drag the price to the recent low of $6,435.

Conversely, if the bulls can button the BTC/USD pair in a higher place the overhead resistance at $7,856.76, it might start a new up move. Therefore, traders can buy higher up $7,856.76 as suggested in our earlier analysis. We conceptualize the price to take a decisive direction inside the next few days.

ETH/USD

The bears thwarted the attempt by the bulls to push Ether (ETH) above $131.484 on December. 26. This shows a lack of demand at higher levels. Both moving averages are sloping downwards and the RSI is in the negative zone, which suggests that bears are in the driver'southward seat.

ETH USD daily chart. Source: Tradingview

The sellers will attempt to resume the downtrend by breaking below the recent low of $117.09. If successful, a drop to $100 is possible.

However, if the bulls defend the back up at $117.09, the ETH/USD pair is likely to remain range-bound for a few days. The first sign of strength volition be a suspension above the 20-twenty-four hours EMA. Until so, we suggest traders remain on the sidelines.

XRP/USD

The bulls accept managed to go on XRP above the immediate support at  $0.18339 for the past few days. This is a pocket-size positive every bit it shows that the selling pressure level has reduced. However, unless the bulls quickly comport the price above 0.20041, the bears might resume their selling and sink the price to the recent low of $0.17468.

XRP USD daily chart. Source: Tradingview

A break below the recent low of $0.17468 volition exist a huge negative as information technology can extend the downtrend to $0.15.

Conversely, if the XRP/USD pair rebounds off the current levels or from $0.17468, information technology might remain range-spring for a few days. We would look for the pair to breakout and close (UTC time) higher up $0.20041 before proposing a trade in information technology.

BCH/USD

Bitcoin Cash (BCH) has turned around from just below the support at $183.40 on December. 25, which is a positive sign. The bulls are now attempting to propel the price higher up the resistance line of the descending channel. If successful, a move to $227.01 is possible.

BCH USD daily nautical chart. Source: Tradingview

The brusque-term traders can ride this move higher by buying on a close (UTC time) above $203.36. The stop-loss for the merchandise tin be kept at $181, which can be trailed higher as the price moves upwards.

However, if the BCH/USD pair fails to break out of the aqueduct, information technology might again dip dorsum to $183 levels.

LTC/USD

Litecoin (LTC) has been consolidating betwixt $39.252 and $42.0599 for the past few days. Both moving averages are sloping down and the RSI is in the negative territory. This indicates that bears are in command.

LTC USD daily chart. Source: Tradingview

If the LTC/USD pair drops below $39.252, it can slide to $35.8582. Alternatively, if the bulls can push the price above the overhead resistance at $42.0599, it will indicate forcefulness.

The brusk-term traders can wait for a breakout and close (UTC time) above $43 before initiating a long position. The target objective is a move to $50 and the stop-loss can be kept at $38.

EOS/USD

The bulls failed to sustain the move higher up $2.5804 on Dec. 26. Hence, our buy recommended in an earlier analysis did not trigger. Nevertheless, the bulls are once more attempting to button EOS above the resistance at $2.5804.

EOS USD daily chart. Source: Tradingview

If successful, a motion to $2.8695 is possible. Therefore, we retain the buy recommendation given in an earlier assay.

However, if the bulls over again neglect to sustain the cost above $2.5804, it will betoken a lack of buyers at higher levels. The bears volition and so effort to sink the price below $ii.4001. If successful, the EOS/USD pair tin plummet to the contempo depression of  $2.1624.

BNB/USD

Binance Coin (BNB) continues to trade in the upper-half of $12.1111 to $14 range. Though this is a minor positive, the bulls take failed to propel the price above the overhead resistance. This indicates that ownership dries upwards at higher levels.

BNB USD daily chart. Source: Tradingview

The longer the BNB/USD pair stays inside the range, the stronger will be the eventual breakout or breakdown from it. If the bears sink the price below $12.1111, a driblet to $10 is possible.

Alternatively, if the bulls propel the price above $14 to $14.fifty resistance zone, a rally to $sixteen.50 is probable. Therefore, traders tin buy if the price sustains above $14.50 for four hours. The stop-loss can be kept below the most contempo low.

BSV/USD

Bitcoin SV (BSV) is stuck within $78.506 to $92.693 range. Though both moving averages are sloping down and the RSI is in the negative territory, the price has been trading close to the top of the range, which is a positive sign.

BSV USD daily chart. Source: Tradingview

A breakout above $92.693 is likely to attract buying that can push the toll to $113.96. Therefore, brusque-term traders can initiate long positions equally recommended in our before analysis.

Reverse to our assumption, if the bulls fail to push the price higher up the range, the bears will attempt to sink the BSV/USD pair beneath $78.506. If successful, a drib to $66.666 is possible.

XTZ/USD

The tight range in Tezos (XTZ) has resolved to the downside. The price is currently at the 50-day SMA, below which a drib to $1.x is possible. If this support also cracks, the sentiment volition plough negative.

XTZ USD daily chart. Source: Tradingview

On the other mitt, if the bulls defend the back up at the 50-day EMA, the XTZ/USD pair will once more attempt to resume the up move. With the 20-day EMA starting to plough down and the RSI dipping into the negative territory, the advantage is with the bears. We suggest traders remain on the sidelines until further clarity emerges.

XLM/USD

Stellar Lumens (XLM) has again risen into the elevation ten cryptocurrencies by marketplace capitalization. The price is currently stuck between $0.042133 and $0.047799. Both moving averages are sloping down and the RSI is in the negative zone, which indicates that bears have the upper hand.

XLM USD daily chart. Source: Tradingview

If the bears sink the price below $0.042133, the downtrend will resume. The next back up on the downside is $0.036769.

Conversely, if the bulls tin can push the toll above $0.047799, the XLM/USD pair tin move up to $0.051014. Nosotros volition look for the price to sustain above $0.051014 before turning positive.

The views and opinions expressed hither are solely those of the author and do non necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should acquit your own research when making a decision.

Marketplace data is provided by HitBTC exchange.