Cryptocurrency Market Dec 3, 2021: Bitcoin and Ethereum in decline as ADA begins a new race
Cryptocurrency Market December 3, 2021: Bitcoin price failed to accelerate above USD 57,500. As a result, there has been another drop below the $ 56,500 level and BTC is currently trading at that level (04:30 UTC).
That being said, most of the big altcoins are still above key supports. ETH could continue to fall if there is a significant break below $ 4,450. XRP must hold above $ 0.920 to revisit $ 1.00. ADA is doing better and is well above the $ 1.65 mark.
Cryptocurrency Market December 3, 2021: Bitcoin Price
After another setback near $ 57,500, Bitcoin price responded by falling. BTC fell below $ 56,500 and even tested $ 56,000. It currently consolidates losses over $ 56,500. A significant break below $ 56,000 could usher in a bigger decline. The next big support is near the $ 53,500 mark.
On the downside, the price is encountering resistance near the $ 57,200 mark. The first major resistance is near $ 57,500, above which a pullback to $ 58,000 is possible.
Cryptocurrency Market December 3, 2021: Ethereum Price
Ethereum price began to decline after failing to break the USD 4,800 resistance level. ETH is currently trading below $ 4,550. A break below $ 4,450 and $ 4,420 may take the price towards $ 4,350 for the short term.
If it rallies again, the price could encounter resistance near the $ 4,550 mark. The first major resistance is currently forming near the $ 4,600 mark.
Cryptocurrency Market December 3, 2021: ADA, BNB, SOL, SHIB and XRP prices
Cardano (ADA) outperformed the $ 1.65 mark with strong gains, offsetting all of its weekly losses. The price is showing positive signs and may return to the $ 1.70 level. Any further gains could push the price towards $ 1.75.
Binance Coin (BNB) is consolidating profits above the $ 605 and $ 612 levels. Immediate resistance is near the $ 625 level. If there is a significant break above $ 625, an advance towards $ 640 is possible.
Solana (SOL) is moving higher above the $ 225 mark. Immediate resistance is near $ 232, above which a rally to $ 240 is possible. If it drops again, the price may revert to the USD 212 support.
SHIB is consolidating above the $ 0.000040 level. If there is a downside break below $ 0.000040, the price could start a steeper decline. When this happens, the price may fall towards the $ 0.000035 support level.
XRP price stuck near the $ 0.950 level. In the event of further losses, the price can test the USD 0.920 level. On the flip side, the $ 1.00 level represents a major hurdle for the bulls above which the price could initiate a steady rise.
Cryptocurrency Market December 3, 2021: Another Altcoin Market
Many altcoins are down more than 5%, including STX, GALA, IMX, AVAX, EGLD, WAVES, LPT, BAT, 1INCH, KSC, and KDA. Of these, AVAX and GALA fell nearly 9%, breaking the $ 107 and $ 0.55 levels, respectively. Meanwhile, IOTX and XRD are up nearly 10%.
Overall, Bitcoin price is struggling to stay above $ 56,000 and $ 55,500. A break down could trigger another drop towards $ 53,500 or even $ 52,000.
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.