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Crypto market December 17, 2021: Bitcoin and Ethereum fall again, LUNA and MIOTA outperform

Crypto Market December 17, 2021: Bitcoin price bounces above the USD 48,500 resistance. However, BTC is struggling to break the $ 49,500 mark. At 04:30 UTC, BTC is trading below $ 47,900 and threatens to drop below $ 47,000.

Likewise, most of the big altcoins also fall. ETH failed to break through $ 4,080 and fell below $ 4,000. XRP is struggling to stay above the USD 0.800 support. ADA is down 3% and could return to $ 1.22.

Cryptocurrency Market December 17, 2021

Cryptocurrency Market December 17, 2021: Bitcoin Price

After a fairly decent rally, Bitcoin price has encountered resistance near the $ 49,500 mark. BTC started another decline and traded below $ 48,500. The price has fallen nearly 3% and risks falling below the $ 47,200 support. The next big support is at $ 47,000, below which it may drop to $ 45,500.

On the flip side, the initial resistance is at $ 48,500. The main resistance is near the $ 49,500 zone above which the price could rise.

Cryptocurrency Market December 17, 2021: Ethereum Price

Ethereum price struggled to break the USD 4,080 resistance. ETH started another decline and was trading below the $ 4,000 support but is still trading above the $ 3,900 level. The next major support is near the $ 3,880 mark, below which the price can test $ 3,650.

Cryptocurrency Market December 17, 2021: ADA, BNB, SOL, DOGE and XRP prices

Cardano (ADA) is down 3% and is trading near $ 1.25. The next major support is near the $ 1.22 level. Any further losses will likely push the price towards the USD 1.20 support area.

Binance Coin (BNB) failed to test the USD 550 resistance. It’s trading near the $ 530 mark. If the bulls fail to defend the USD 525 support area, a test of the USD 510 level is likely in the near future.

Solana (SOL) tested $ 190 but fell below $ 180. A move towards $ 175 is possible while the next big support is near the $ 172 level.

DOGE cuts its profits and trades under $ 0.180. It looks like the price could drop to the $ 0.165 level. On further losses, the price can drop into the USD 0.150 support area.

The XRP price fell, nearing the $ 0.800 support. If it breaks below $ 0.800, a decline towards $ 0.780 is possible. The next big support could be near $ 0.750.

Cryptocurrency Market December 17, 2021: Another Altcoin Market

Several altcoins are up at least 5%, including YFI, CELO, LUNA, WAVES, AR, IOTX, BORA, MIOTA, CRV, HNT, LUNA and OMG. Meanwhile, LUNA is up 5% to close at $ 65, reducing its weekly loss to less than 3%. At the same time, IOTA is up 7%, testing $ 1.20 and increasing weekly profits to 3%.

Overall, Bitcoin price is hurting profits and trading below the 48,000 level. The main support is at $ 47,000, below which there is a risk of falling to $ 45,500.

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Important NOTE: All content on the website is for informational purposes only and does not constitute investment advice. 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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