23 Dec 2021 · 2 min read

Bitcoin and Ethereum Continue to Fail Near Important Highs, DOT and NEAR Rally

 

  • Bitcoin price is struggling to clear USD 49,500 and USD 50,000.
  • Ethereum failed to surpass USD 4,080, XRP is testing the USD 1.00 resistance zone.
  • DOT is up over 8%, while NEAR jumped 34%.

Bitcoin price attempted an upside break above the USD 49,500 zone but failed. BTC started a downside correction below USD 49,000. It is currently (04:21 UTC) trading below USD 48,700 and there is a risk of a move towards USD 47,500.

Similarly, most major altcoins are also struggling to gain momentum. ETH topped near USD 4,060 and corrected lower. XRP extended increase and is testing the USD 1.00 barrier. ADA is stable above the USD 1.30 pivot level.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a failed attempt near USD 49,500, bitcoin price started a downside correction. There was a break below the USD 49,000 and USD 48,500 levels. On the downside, an initial support is near the USD 48,000 level. The next major support is near USD 47,500, below which the price may perhaps gain bearish momentum.

If there is a fresh increase, the price might face resistance near USD 49,000. The next resistance is near the USD 49,500 zone, above which the price could test USD 50,000. 

Ethereum price

Ethereum price faced sellers near USD 4,060 and USD 4,080. ETH started a downside correction and traded below USD 4,000. The next key support is near the USD 3,920 level, below which the price might extend losses in the near term.

An immediate resistance is near the USD 4,000 level. The next key resistance is near the USD 4,050 level, above which the price could attempt a key upside break.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) is showing positive signs above the USD 1.30 and USD 1.32 levels. On the upside, the bulls are struggling near USD 1.35. A clear break above USD 1.35 might send the price towards USD 1.40.

Binance coin (BNB) spiked above the USD 535 and USD 540 levels, but it failed to test USD 550. It is correcting gains and trading below USD 535. The next major support is near the USD 525 level.

Solana (SOL) is consolidating above the USD 175 level. An immediate hurdle is near the USD 180 level, above which the bulls might test USD 188. The main hurdle for them is near the USD 200 level.

DOGE is still consolidating above the USD 0.170 level. It is facing resistance near the USD 0.178 and USD 0.180 levels. If there is no upside break, the price could test USD 0.165. The next major support is near the USD 0.150 level.

XRP price is rising and is testing the USD 1.00 level. A clear move above USD 1.00 might send the price higher. The next major resistance is near USD 1.05, above which the price could test USD 1.12.

Other altcoins market today

Many altcoins are up over 8%, including NEAR, ICX, ATOM, AAVE, CELO, OMG, UNI, HNT, DOT, and LPT. Out of these, NEAR rallied 34% and cleared the USD 12.50 level, increasing its weekly gains to 29%. Meanwhile, DOT accelerated more than 8% and surpassed USD 28. The price is also up 3% in a week.

Overall, bitcoin price is correcting gains below USD 49,000. Having said that, BTC might start a fresh increase if there is no downside break below the USD 47,500 support zone.

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