17 Dec 2021 · 2 min read

Bitcoin and Ethereum Move Lower Again, LUNA and MIOTA Outperform

  • Bitcoin price failed to surpass USD 49,500 and started a fresh decline.
  • Ethereum is back below USD 4,000, XRP might test USD 0.800 again.
  • LUNA and IOTA are up 5% and 7%, respectively.

Bitcoin price recovered above the USD 48,500 resistance level. However, BTC struggled to gain pace for a move above the USD 49,500 level. It is currently (04:30 UTC) trading below USD 47,900 and there is a risk of a move below USD 47,000.

Similarly, most major altcoins are also moving lower. ETH failed to surpass USD 4,080 and declined below USD 4,000. XRP is struggling to stay above the USD 0.800 support. ADA is down 3% and it could revisit USD 1.22.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a decent recovery wave, bitcoin price faced resistance near the USD 49,500 level. BTC started a fresh decline and traded below USD 48,500. The price is down almost 3% and there is a risk of a move below the USD 47,200 support. The next major support is near USD 47,000, below which the price may perhaps decline towards USD 45,500.

On the upside, an initial resistance is near USD 48,500. The main resistance is near the USD 49,500 zone, above which the price could accelerate higher.

Ethereum price

Ethereum price struggled to clear the USD 4,080 resistance. ETH started a fresh decline and traded below the USD 4,000 support, but is still trading well above the USD 3,900 level. The next key support is near the USD 3,880 level, below which the price might test USD 3,650.

If there is a fresh increase, the price might surpass USD 4,000. The next key resistance is near the USD 4,080 level again. 

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) is down 3% and trading near the USD 1.25 level. The next key support is near the USD 1.22 level. Any more losses may possibly push the price towards the USD 1.20 support zone.

Binance Coin (BNB) failed to test the USD 550 resistance level. It is trading near the USD 530 level. If the bulls fail to protect the USD 525 support zone, the price might test USD 510 in the near term.

Solana (SOL) tested the USD 190 level but declined below USD 180. There could be a move towards USD 175 too, while the next major support is near the USD 172 level.

DOGE is trimming gains and trading below USD 0.180. It seems like the price could decline towards the USD 0.165 level. If there are additional losses, the price could decline towards the USD 0.150 support zone.

XRP price moved lower and approached the USD 0.800 support. If there is a downside break below USD 0.800, the price could decline towards the USD 0.780 level. The next major support could be near the USD 0.750 level.

Other altcoins market today

A few altcoins are up at least 5%, including YFI, CELO, LUNA, WAVES, AR, IOTX, BORA, MIOTA, CRV, HNT, LUNA, and OMG. Meanwhile, LUNA advanced 5% and neared USD 65, trimming its weekly losses to less than 3%. At the same time, IOTA jumped 7%, testing USD 1.20 and increasing its weekly gains to 3%. 

Overall, bitcoin price is trimming gains and trading below the 48,000 level. The main support is near USD 47,000, below which there is a risk of a drop towards the USD 45,500 level.

_____ 

Find the best price to buy/sell cryptocurrency: