Cryptocurrency market on December 8, 2021: Bitcoin stable recovery

Cryptocurrency Market December 8, 2021: Bitcoin price started a steady recovery wave above the $ 50,000 mark yesterday. BTC has even surpassed the $ 50,500 and $ 51,200 resistance levels. At 04:28 UTC, BTC will encounter resistance near USD 50,500 and a possible decline is possible.

ETH hit a high of nearly $ 4,420 and is currently correcting gains. XRP couldn’t break above $ 0.85, but it was still above $ 0.80. ADA fell 6% to break the $ 1.38 support.

Cryptocurrency Market December 8, 2021: Bitcoin Price

After rising steadily, Bitcoin price broke the USD 50,000 resistance level. BTC even broke the $ 51,200 mark but encountered strong resistance near the $ 52,000 mark. The price is moving down and trading below $ 50,500. Immediate support is nearly $ 50,000. The next big support is near the $ 49,500 mark, below which the price can test $ 48,000.

On the flip side, the bulls will need to gain strength to rebound above $ 51,800 and $ 52,000. The next major resistance is at $ 53,200.

Cryptocurrency market December 8, 2021: Ethereum price

Ethereum price also followed a bullish path above the $ 4,250 and $ 4,320 resistance levels. It even broke through $ 4,350 but couldn’t accelerate past $ 4,400. It peaked near $ 4,420 and began a downward correction.

On the flip side, initial support is near the $ 4,300 mark. The next major support is currently forming near the $ 4,250 level.

Cryptocurrency Market December 8, 2021: ADA, BNB, SOL, SHIB and XRP prices

Cardano (ADA) rose above the $ 1.35 and $ 1.40 resistance levels. It even rose to the $ 1.50 level where the bears showed up. ADA has cut profits and is trading below $ 1.40. The next big support is at $ 1.32.

Binance Coin (BNB) climbed above $ 590 but failed to test $ 600. It’s moving down and trading below $ 580. If there are more losses, the price could even test $ 565.

Solana (SOL) failed to break the $ 200 mark and corrected downward. It is trading below $ 195 and is approaching the $ 185 support. Any further downtrend could drive the price towards the $ 178 mark.

SHIB faces sellers near the $ 0.000388 level. It corrects gains and trades near the $ 0.0000365 level. If the bears remain active, the price can test the $ 0.000035 zone. The next big support is near the $ 0.000335 mark.

XRP price struggled to break the $ 0.850 resistance area. It drops to the critical support of $ 0.800. If the bulls fail to defend $ 0.800, it can fall to $ 0.780.

Cryptocurrency Market December 8, 2021: Another Altcoin Market

Many altcoins are still up more than 5%, including XTZ, BTT, CRV, LINK, AXS, FIL, XEM, BSV, QTUM, OMG, IMX, TRX, and ICP. Of these, XTZ is up 32% to top $ 5.50 while BTT is above $ 0.00408 and is now up 26% in one day, bringing weekly gains to 30%.

Overall, the Bitcoin price is consolidating above the $ 50,000 mark. If BTC stays stable above $ 50,000 and $ 49,500, there could be a new rally in the near future.

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