31 Dec 2021 · 2 min read

Bitcoin and Ethereum Aim To End 2021 On Positive Note

 

  • Bitcoin price is rising towards USD 48,500.
  • Ethereum could recover above USD 3,800, XRP is facing sellers near USD 0.85.
  • AAVE and CEL are up over 11%.

Bitcoin price started a slow recovery wave above the USD 47,500 level. BTC even climbed above USD 48,700 and is now  (12:21 UTC) correcting gains near USD 48,000. A close above USD 48,500 might spark a steady increase.

Similarly, most major altcoins are consolidating below key hurdles. ETH is eyeing an upside break above USD 3,800 and USD 3,820. XRP could recover more if it clears USD 0.85. ADA eyes the USD 1.38 resistance zone.

Total market capitalization

Source: https://www.tradingview.com

Bitcoin price

After consolidating above USD 46,000, bitcoin price started a minor upside correction. BTC recovered above the USD 48,700 before correcting lower again. A successful close above USD 48,500 could open the doors for a steady increase. The next key resistance may possibly be near the USD 50,000 level.

An initial support on the downside is near USD 47,500. The next major support is near USD 47,000, below which the price might start a fresh decline. 

Ethereum price

Ethereum price is trying to recover and was able to clear the USD 3,800 level before correcting lower.  If there’s a clear upside break above USD 3,800, the price may perhaps test the USD 3,850 resistance zone.

An initial support is near the USD 3,720 level. The key breakdown support is now forming near the USD 3,700 level. If there is a downside break, the price could revisit USD 3,600.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) is consolidating above the USD 1.35 level. It is facing resistance near the USD 1.38 level. A clear upside break above the USD 1.38 level might even push the price above the USD 1.40 level. If not, it could correct lower towards the USD 1.32 level.

Binance coin (BNB) is again attempting an upside break above the USD 525 resistance. A proper close above USD 525 might lift the market sentiment. In this case, the price could rise towards the USD 540 level in the near term.

Solana (SOL) is consolidating near the USD 175 level. An immediate resistance is near the USD 180 level. The main resistance is near the USD 188 level, above which the price may possibly climb towards the USD 200 level.

DOGE is stuck below the USD 0.175 resistance. If the bulls push the price above USD 0.175, it could test the USD 0.180 resistance. Conversely, there is a risk of a move towards the USD 0.165 level.

XRP price is attempting an upside break above the USD 0.85 level. If the bulls succeed, the price might rise towards the USD 0.92 level. Conversely, the price may perhaps start a fresh decline towards USD 0.80.

Other altcoins market today

Many altcoins are up over 6%, including CEL, AAVE, AR, ATOM, BORA, CRV, SUSHI, YFI, UNI, ICP, LUNA, and BAT. Out of these, CEL gained 15% both in a day and a week and reached the USD 4.60 level.

To sum up, bitcoin price is attempting a crucial recovery wave above USD 48,500. If BTC fails, it could start a fresh decline towards USD 45,500.

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