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Cryptocurrency market December 28, 2021: Bitcoin and Ethereum fail again with new decline

Crypto Market Dec 28, 2021: Bitcoin price tried to gain strength above the resistance of $ 51,800. However, BTC was unable to move any further, making a short-term high near $ 52,000. It started a new pullback and is currently (04:50 UTC) trading near $ 49,000.

Likewise, most of the big altcoins also fall. ETH broke the USD 4,020 and USD 4,000 support levels. XRP was trading below the critical support of $ 0.90. ADA has cut profits and is trading below $ 1.50.

Cryptocurrency Market December 28, 2021

Cryptocurrency Market December 28, 2021: Bitcoin Price

Recently, Bitcoin price made another attempt to break the $ 51,800 resistance. However, BTC faced strong selling interest and began to dip below $ 51,200. There was a clear move below USD 50,000 as the price fell nearly 4% in one day. On the flip side, the key support is close to $ 48,500, below which the bears could gain strength.

If it rallies again, the price could encounter resistance near the $ 50,200 mark. The closest resistance is near the $ 50,500 zone, above which a pullback to $ 51,500 is possible.

Cryptocurrency Market December 28, 2021: Ethereum Price

Ethereum price also followed a similar pattern after failing to cross the $ 4,120 resistance and falling 4%. ETH fell below the $ 4,020 and $ 4,000 support levels, breaking the critical $ 3,920 support. Below this level, a retest of $ 3,850 is possible.

On the downside, the price is encountering resistance near USD 4,000. The next major resistance is near the $ 4,020 level above which the price can test $ 4,080.

Cryptocurrency market December 28, 2021: Crypto market December 28, 2021: ADA, BNB, SOL, DOGE and XRP prices

Cardano (ADA) rose to $ 1.60 before sellers showed up. It started another decline and traded below $ 1.55. It even trades under $ 1.50 and could have more downsides.

The Binance Coin (BNB) rose towards $ 580 before falling again. It is currently consolidating near the $ 550 mark. Any further losses could move the price towards $ 532 in the short term.

Solana (SOL) couldn’t hold up above $ 200. It fell 6% and tested the $ 188 level. If the bears remain active, it is likely to fall to $ 182. The next big support is near the $ 172 mark.

DOGE faces sellers near the $ 0.192 level. There’s another drop below $ 0.188 and a test at $ 0.180. There appears to be a risk of a move towards the $ 0.172 level.

XRP price struggles to gain strength over $ 0.95. As a result, there was a fresh bearish reaction and the price traded below $ 0.90. It is currently testing the $ 0.89 zone and could further drop to $ 0.85.

Cryptocurrency Market December 28, 2021: Another Altcoin Market

Many altcoins are down more than 8%, including ATOM, CRV, NEAR, FTM, ROSE, LUNA, THETA, ENJ, KDA, MATIC, MANA and LRC. Of those, ATOM is down 12% and is trading below $ 29. Meanwhile, SUSHI and ICX gained 15% and 26%, respectively, to hit $ 9 and $ 1.9, respectively. SUSHI was up 66% weekly, while ICX was now up 55% in a week.

Overall, Bitcoin price is falling and trading below $ 50,000. Unless BTC recovers above $ 49,500, a move towards $ 48,000 is possible.

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