Cryptocurrency market December 7th, 2021: Bitcoin and important altcoins are on the upswing

Crypto Market December 7th, 2021: Bitcoin price begins a steady recovery wave above USD 48,000. BTC has even surpassed the $ 49,500 and $ 50,000 resistance levels. At 04:32 UTC, BTC is showing positive signs and could continue to rally towards USD 52,000.

In addition, most of the major altcoins also correct higher. ETH accelerated to break above the $ 4,250 resistance, breaking $ 4,300. XRP is still trading below the $ 0.850 resistance. ADA is up 6% and could return to the USD 1.50 resistance.

Cryptocurrency Market December 7th, 2021: Bitcoin Price

After bitcoin price struggled for a while, it broke the $ 49,500 resistance level. BTC has even passed the $ 50,000 mark and is accelerating upwards. It is currently trading above the $ 51,100 level while the next major resistance is near the $ 52,000 level above which the price could continue to rise.

Should there be another downward correction, the price could find support at $ 50,000. The next big support is near the $ 49,500 mark, below which the price can test $ 48,000.

Cryptocurrency market December 7th, 2021: Ethereum price

Ethereum price remains well bought and could rise above the USD 4,200 and USD 4,250 resistance levels. It even exceeded $ 4,300 and is testing $ 4,350. A significant move above $ 4,350 could push the price towards $ 4,500.

On the downside, initial support is close to the $ 4,250 level. The next major support is currently forming near the $ 4,150 mark.

Cryptocurrency Market December 7, 2021: ADA, BNB, SOL, SHIB and XRP prices

Cardano (ADA) found support at $ 1.25 and started rising again. The price was able to break the $ 1.35 and $ 1.40 resistance levels. If the bulls remain active, the price could soon test $ 1.50.

The Binance Coin (BNB) began to rebound from the USD 532 support. It rebounded more than 7% to break the USD 580 resistance. The next stop for BNB could be at USD 600, above which a rally to USD 620 is possible.

Solana (SOL) tested the $ 175 support before initiating a new bullish move. It is trading above $ 190 and encountering resistance near $ 200. A close above the $ 200 resistance area could move the price towards $ 220.

SHIB bounces back above $ 0.000365. An immediate hurdle is near the $ 0.000038 level, above which a return to the $ 0.000040 zone is possible. Otherwise, it may decline again towards $ 0.000035.

The XRP price recorded and tested the zone of $ 0.750. It is now recovering from losses and trading above $ 0.800. The next major resistance is at $ 0.850, above which a rally to $ 0.900 is possible.

Crypto Market December 7th, 2021: Another Altcoin Market

Many altcoins are up more than 8% including BTT, BSV, LRC, MATIC, ROSE, AVAX, CRO, BAT, FTM, ZEN, ANKR and FLOW. Of these, AVAX is up nearly 12%, breaking the $ 95 mark, while MATIC is up 17% and is currently trading near $ 2.30.

Overall, the Bitcoin price is back above the $ 50,000 mark. If BTC continues to rise, it could see a steady spike towards $ 52,500 in the near future.

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