22 Dec 2021 · 2 min read

Bitcoin Nears USD 50K, Ethereum Moves Higher, XRP and LUNA Rally

 

  • Bitcoin price is gaining pace above USD 49,000.
  • Ethereum is consolidating above USD 4,000, XRP jumped 8% and cleared USD 0.95.
  • LUNA and MIOTA are up over 11%.

Bitcoin price gained pace for a move above the USD 48,500 resistance zone. BTC even cleared the USD 49,200 zone and moved above USD 49,800 before correcting lower. It is currently (04:40 UTC) trading near USD 49,400 and it seems like the price could test USD 50,000 once again.

Similarly, most major altcoins are also gaining pace. ETH is consolidating above USD 4,000 after testing USD 4,100 and it might clear USD 4,120. XRP rallied 8% and there was a clear move above USD 0.92. ADA is testing the USD 1.30 resistance zone.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a clear move above USD 47,500, bitcoin price was able to gain strength. BTC cleared the USD 48,500 and USD 49,200 resistance levels. The next resistance is near the USD 50,000 zone, above which the price could accelerate higher. In this case, the price may perhaps rise towards the USD 51,200 level.

On the downside, an initial support is near the USD 49,000 level. The next major support is near USD 48,500, below which the price may perhaps start a fresh decline. 

Ethereum price

Ethereum price settled above USD 4,000 to move into a positive zone. ETH is rising and trading above USD 4,050. The next key resistance is near the USD 4,080 level, above which the price could even break USD 4,120. In this case, the price could test USD 4,200. 

If there is a downside correction, the price might decline below USD 4,000. The next key support is near the USD 3,920 level, below which the price might test USD 3,850. 

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) is up 3% and there was a clear move above USD 1.28. The price is now testing the USD 1.30 resistance. A successful break above USD 1.30 might send the price towards the USD 1.32 level.

Binance coin (BNB) is struggling to gain pace above the USD 535 level. The next major resistance is near the USD 550 level. A clear move above USD 550 might send the price towards the USD 565 level.

Solana (SOL) is trading above the USD 175 level. It is testing the USD 180 resistance, above which the bulls might aim a test of USD 188. The next major resistance for the bulls is near the USD 200 level.

DOGE is consolidating above the USD 0.170 level. The first key resistance is near the USD 0.175 level. A proper break above USD 0.175 might lead the price towards USD 0.188. If not, it may possibly decline towards the USD 0.165 level.

XRP price outperformed with a strong move above the USD 0.90 level. The bulls even pushed the price above USD 0.92 and USD 0.95. The next major resistance is near USD 1.00, above which the price could test USD 1.05.

Other altcoins market today

Multiple altcoins are up over 10%, including CRV, MIOTA, LUNA, GRT, LRC, MATIC, RUNE, FTM, AVAX, KDA, HBAR, ATOM, and NEAR. Out of these, LUNA rallied 12% and surpassed the USD 90 level. The price is now up by 54% in a week.

Overall, bitcoin price is moving higher towards USD 50,000. If BTC settles above USD 50,000, it could continue to rise towards the USD 51,200 level in the coming sessions.

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