𝐂𝐫𝐲𝐩𝐭𝐨𝐜𝐮𝐫𝐫𝐞𝐧𝐜𝐲 𝐦𝐚𝐫𝐤𝐞𝐭 𝐃𝐞𝐜𝐞𝐦𝐛𝐞𝐫 𝟏𝟎, 𝟐𝟎𝟐𝟏: 𝐄𝐭𝐡𝐞𝐫𝐞𝐮𝐦, 𝐦𝐚𝐣𝐨𝐫 𝐚𝐥𝐭𝐜𝐨𝐢𝐧𝐬 𝐟𝐚𝐥𝐥 𝐚𝐠𝐚𝐢𝐧𝐬𝐭 𝐁𝐢𝐭𝐜𝐨𝐢𝐧
Cryptocurrency Market December 10, 2021: Bitcoin price failed to break the USD 50,000 resistance area correcting gains. BTC was trading under the support of $ 49,000. At 04:26 UTC, BTC was showing bearish signs near the $ 48,500 mark and losing more than 2% in a single day.
However, BTC is currently outperforming most of the major altcoins as they have fallen 3% -10%. Except that XRP stays flat for a day and consolidates profits after spiking above $ 0.90. ETH is down 5% and trades below $ 4,200. ADA is sliding towards the $ 1.30 level.
Cryptocurrency Market December 10, 2021: Bitcoin Price
After Bitcoin's price closed below $ 50,000, it struggled to start a new rally. BTC even fell below $ 49,000, but the bulls defended $ 47,000. It is currently trading near $ 48,500 and is facing resistance near the $ 49,500 region. Key resistance remains near $ 50,000. Closings above $ 49,500 and $ 50,000 could open the door to further gains. The next major resistance is near the $ 52,000 mark.
Immediate support on the downside is at $ 47,800. The next big support is around $ 47,000, and further declines are possible below that.
Cryptocurrency Market December 10, 2021: Ethereum Price
Ethereum price began to decline from the USD 4,400 resistance. ETH has fallen below the support levels of $ 4,250 and $ 4,200. On the flip side, initial support is near the $ 4,150 mark. The next major support is near $ 4,050, below which the bears can gain strength.
If it rallies again, the price could encounter resistance near $ 4,250. A significant increase above $ 4,200 and $ 4,250 could result in steady growth.
Cryptocurrency market December 10, 2021: ADA, BNB, SOL, SHIB, and XRP prices
Cardano (ADA) is down 5% to break below the $ 1.32 support. The next major support is near the $ 1.30 level. A closing price below $ 1.30 could trigger a decline towards $ 1.20.
The Binance Coin (BNB) failed to hold above $ 600 and started falling again. There was a significant break below the USD 585 support. It is currently trading below $ 580, with a potential drop to $ 565, below which it can drop to $ 550.
Solana (SOL) fell 6% testing the $ 180 support. Any further losses will likely push the price down to $ 165. The initial hurdle is at $ 188, above which it can climb to $ 200.
SHIB is struggling to hold above $ 0.000355. A bearish collapse can propel the price towards $ 0.0000320. Conversely, there could be a recovery wave towards the $ 0.0000365 region. The next major resistance is near the $ 0.0000038 level.
XRP price rebounded before a sharp downward correction above $ 0.90. The price is currently consolidating gains near the $ 0.85 level. A test of $ 0.820 may be required for further losses.
Cryptocurrency Market December 10, 2021: Another Altcoin Market
Many altcoins are down more than 5%, including XTZ, WAXP, UNI, 1INCH, AAVE, QTUM, OMG, ONE, RUNE, COMP, THETA, FTT, and FTM. Of those, XTZ is down 11% and is trading below $ 5.0. Meanwhile, OHM, CEL, and IOTX are now up 6% to 14%.
Overall, Bitcoin's price is consolidating near $ 48,000. If BTC breaks the USD 47,000 support, selling pressures could mount.
Source: Coincu News
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