20 Dec 2021 · 2 min read

Bitcoin and Ethereum Trend Lower While XRP Gains Pace

  • Bitcoin price failed to surpass USD 48,500 and started a fresh decline.
  • Ethereum is back below USD 4,000, XRP rallied above USD 0.90.
  • LUNA and OHM are up 10% and 18%, respectively.

Bitcoin price failed to gain strength above the USD 48,500 resistance level. BTC started a fresh decline and traded below USD 47,500. It is currently (04:24 UTC) showing bearish signs and there is a risk of more downsides below USD 46,500.

Similarly, most major altcoins are moving lower. ETH failed to surpass USD 4,100 and declined below USD 4,000. Conversely, XRP started a fresh rally and broke the USD 0.90 level. ADA is down almost 5% and it could revisit USD 1.20.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a decent recovery wave, bitcoin price faced resistance near the USD 48,500 level. BTC started a fresh decline and traded below USD 47,500. The price is down 2% and there is a risk of a move below the USD 46,500 support. The next major weekly support is near USD 45,500, below which the price may perhaps decline towards USD 43,000.

On the upside, an initial resistance is near USD 47,500. The main resistance is near the USD 48,500 zone, above which the price could accelerate higher towards the USD 50,000 level.

Ethereum price

Ethereum price struggled to clear the USD 4,100 resistance. ETH started a fresh decline and traded below the USD 4,000 support. The price is moving lower and testing the USD 3,900 level. The next key support is near the USD 3,880 level, below which the price might decline towards USD 3,650.

If there is a fresh increase, ETH may perhaps face resistance near USD 4,000. The next key resistance is near the USD 4,100 level. 

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) is down 5% and trading near the USD 1.232 level. The next key support is near the USD 1.22 level, below which there is a risk of a move towards the USD 1.20 support zone.

Binance coin (BNB) is moving lower and trading near the USD 525 level. An immediate support is near USD 520. A downside break below USD 500 might call for a test of the USD 500 level.

Solana (SOL) declined below the USD 180 support level. The next key support is near the USD 172 level. If the bulls fail to protect the USD 172 support, the price could dive towards the main weekly support at USD 165.

DOGE is declining and trading below USD 0.180. The next stop for the bears could be USD 0.165. If there are additional losses, the price could decline towards the USD 0.150 support zone.

XRP price outperformed and rallied above the USD 0.850 resistance. The price is up 9% and is trading above USD 0.90. The next major resistance is near USD 0.920, above which the price could test USD 0.965.

Other altcoins market today

A few altcoins are up over 5%, including DCR, ONE, LUNA, AR, CEL, and OKB. Out of these, OHM gained 18% and surpassed the USD 410 level.

Overall, bitcoin price is moving lower and trading below USD 47,500. The main support is at USD 45,500, below which the bears might gain strength in the coming sessions.

_____ 

Find the best price to buy/sell cryptocurrency: