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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

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.

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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.

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

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