Crypto markets December 23, 2021: Bitcoin and Ethereum continue to fail near critical highs

Cryptocurrency Market December 23, 2021: Bitcoin price tried to break above USD 49,500 but failed. BTC has initiated a downward correction below $ 49,000. At 04:21 UTC, BTC is trading below $ 48,700 and there is a risk of rising to $ 47,500.

Similarly, most of the major altcoins are struggling to gain momentum. ETH hit a high of $ 4,060 and corrected down. XRP expands profits and tests the $ 1.00 mark. ADA is stabilizing above the $ 1.30 pivot level.

Cryptocurrency Market December 23, 2021: Bitcoin Price

Bitcoin price began a bearish correction after a failed attempt near $ 49,500. There was a break below the $ 49,000 and $ 48,500 levels. On the flip side, initial support is near the $ 48,000 mark. The next big support is at $ 47,500, below which the price could move down.

If it rallies again, the price could encounter resistance near $ 49,000. The closest resistance is near the $ 49,500 area above which the price could test $ 50,000.

Cryptocurrency Market December 23, 2021: Ethereum Price

Ethereum price faces sellers near $ 4,060 and $ 4,080. ETH started a downward correction and was trading below $ 4,000. The next major support is near $ 3,920, below which the price could extend short-term losses.

Immediate resistance is near the $ 4,000 mark. The next major resistance is near $ 4,050, above which price could attempt to break a major upside break.

Cryptocurrency Market December 23, 2021: ADA, BNB, SOL, DOGE and XRP prices

Cardano (ADA) is showing positive signs above the $ 1.30 and $ 1.32 levels. On the flip side, the bulls are struggling near the $ 1.35 mark. A sharp break above $ 1.35 can push the price towards $ 1.40.

Binance Coin (BNB) surged above the $ 535 and $ 540 levels but failed to test the $ 550 level. It corrects profits and trades below $ 535. The next big support is near the $ 525 mark.

Solana (SOL) is consolidating above the $ 175 level. The immediate hurdle is near the $ 180 mark, above which the bulls can test the 188 mark, and the main hurdle for them is near the $ 200 mark.

DOGE is still consolidating above the $ 0.170 level. It will encounter resistance near the $ 0.178 and $ 0.180 levels. Without an upward breakout, a test of $ 0.165 is possible. The next big support is near the $ 0.150 mark.

The XRP price rises and tests the $ 1.00 level. A significant move above USD 1 could drive the price higher. The next major resistance is at $ 1.05, above which the price could test $ 1.12.

Cryptocurrency Market December 23, 2021: Another Altcoin Market

Many altcoins are up more than 8%, including NEAR, ICX, ATOM, AAVE, CELO, OMG, UNI, HNT, DOT and LPT. Of these, NEAR rose 34% and crossed the $ 12.50 threshold, bringing the weekly surge to 29%. Meanwhile, the DOT is up more than 8%, topping the $ 28 level. Prices also increased 3% within a week.

Overall, Bitcoin price corrects gains below $ 49,000. However, if there is no break below the USD 47,500 support area, BTC could start a new rally.

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