Cryptocurrency market December 2, 2021: After the Bitcoin price hit the USD 59,000 level, it failed to rise any further and fell below USD 56,000. At 04:19 UTC, BTC tries to rebound towards USD 56,500.
Also, most of the big altcoins try to make up for the losses. ETH is down 5% and has broken below the $ 4,550 support area. XRP is currently trading below the $ 1.00 pivot level. ADA is trading below $ 1.55.
After the Bitcoin price fell below $ 57,500, it prolonged its decline. BTC traded below the support levels of $ 56,500 and $ 55,500. Price is currently recovering and trading above $ 56,400. On further losses, the price can move towards USD 53,500. The next big support is near the $ 52,000 mark.
On the downside, the price is encountering resistance near the $ 56,500 mark. The first major resistance is near the $ 57,200 mark, above which a retest of $ 58,000 is possible.
The Ethereum price failed to break the USD 4,800 resistance and began another decline. ETH is down 5% and has broken the USD 4,550 support. Any further losses could move the price towards the USD 4,350 support area.
If it rises again, the price can test the $ 4,550 level. The first major resistance is now forming near the $ 4,620 mark.
Cardano (ADA) is turning down from the $ 1.60 resistance level. It traded below $ 1.52 before rising again. A break below $ 1.50 can trigger a move towards $ 1.45.
Binance Coin (BNB) has cut profits and is currently trading near $ 615. A break below $ 600 can fall into the support area of $ 580.
Solana (SOL) is still up more than 4% and is trading above $ 220. Immediate resistance is at $ 225, above which a rally to $ 240 is possible. Any further gains could push the price towards $ 250.
SHIB extended its decline below $ 0.000042 and is now down nearly 7% in one day. It even tested the $ 0.000040 level. If there is a downside break below the $ 0.000040 level, a decline towards the $ 0.000035 support level is possible.
The XRP price is falling and trading below the $ 1.00 level. Immediate support is near the $ 0.950 level below which the price could test $ 0.92. On the flip side, the $ 1.00 level is a major obstacle for the bulls.
Many altcoins are down more than 6%, including STX, ZEN, SHIB, QTUM, BAT, RUNE, CRV, SAND, AAVE, CAKE, WAXP, and LRC. Of these, the STX is down 12% and is trading below $ 2.70. Meanwhile, MATIC broke the $ 2.10 mark after gaining nearly 12%, while LUNA was up nearly 13% and is close to hitting the $ 65 mark.
Overall, Bitcoin price is trying to bounce back from its losses, but if the bulls fail to defend $ 55,500, a fall to the support level of $ 52,000 is possible.
Join our Facebook group and Telegram group Coincu News to chat with more than 10,000 other people and share information about the crypto currency market.
Important NOTE: All content on the website is for informational purposes only and does not constitute investment advice in any way. Your money, the choice is yours.
Will Bitcoin Crash?" seems to be one of the most controversial questions, as the price…
There’s always that one coin people wish they hadn’t overlooked. For many, Cosmos ($ATOM) is…
Cosmos Developer Interchain Foundation sold 3000 ETH from its ICO today, totaling 21,600 ETH sold…
George Town, Grand Cayman, 22nd November 2024, Chainwire
Inflation Warning by Vanguard highlights risks during Trump’s term, citing tariffs and tighter labor markets…
Clanker token trading volume hit $59.8M on Nov 21, accounting for 14.75% of PumpFun. Fee…
This website uses cookies.