Cryptocurrency market December 24th, 2021: Bitcoin rises above $ 51,000, Ethereum hits $ 4,100, ADA & LUNA rise too

Cryptocurrency Market December 24, 2021: Bitcoin price formed a base and accelerated to over $ 48,500. The BTC bulls drove the price above the $ 51,000 mark. At 04:18 UTC, BTC was up 5% and a slight downward correction is possible.

Similarly, most of the major altcoins are also rising. ETH is up 3%, back above USD 4,000, and seen a break above USD 4,100. XRP can make another attempt to break the USD 1.00 barrier. ADA rebounded 9% to break the $ 1.45 mark.

Cryptocurrency Market December 24, 2021: Bitcoin Price

Bitcoin price gained momentum after breaking the $ 48,500 mark. BTC was able to break the USD 50,000 and USD 50,500 resistance levels. It tested $ 51,500 and is currently consolidating profits. On the flip side, initial support is near the $ 50,500 mark. The next big support is near $ 50,000, with further declines possible below that.

If it rallies again, the price could encounter resistance near $ 51,500. The closest resistance is near the $ 52,000 region above which a rally to $ 53,500 is possible.

Cryptocurrency Market December 24, 2021: Ethereum Price

Ethereum price also started rising again above the $ 4,000 resistance area. It even rose above $ 4,080 and is currently facing resistance near $ 4,120. The next major resistance is near the $ 4,150 level, above which the price can test $ 4,250.

Immediate support is near the $ 4,020 mark. The next major support is near the $ 4,000 level, below which it can retreat to $ 3,920.

Cryptocurrency market December 24, 2021: ADA, BNB, SOL, DOGE and XRP prices

Cardano (ADA) has started a strong rally above the $ 1.35 and $ 1.40 levels. The price even rises above $ 1.45, while a significant break above $ 1.47 can lead it towards $ 1.50.

Binance Coin (BNB) is rising to trade above $ 540. It faces strong resistance near the $ 550 mark. A significant break above $ 550 can trigger a move towards $ 565.

Solana (SOL) is up 4% and broke above $ 180. It is testing the $ 188 level and it looks like the price may continue to rise. The main hurdle is near the $ 200 mark.

DOGE manages to soar above the $ 0.178 and $ 0.180 levels. The next major resistance is near $ 0.185, above which a rally to $ 0.20 is possible. Otherwise, it can be corrected down toward $ 0.175.

XRP price is struggling to break the $ 1.00 level. If there is a significant move above the $ 1.00 level, a quick rally is possible. The next major resistance is at $ 1.05, above which the price could test $ 1.12.

Cryptocurrency Market December 24, 2021: Another Altcoin Market

Many altcoins are up more than 10% including SAND, FTM, GALA, AAVE, MANA, LUNA, CRO, ROSE, NEAR, ICP, WAP and DASH. Of these, LUNA is up 13% and is approaching $ 99 while SAND is up 23% and surpassed $ 6.3. LUNA was up nearly 54% weekly, while SAND was up 26%.

Overall, the Bitcoin price is rising above the $ 50,000 mark. If BTC stays stable, it could continue to climb above $ 52,000 in the near future.

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