Crypto market December 29, 2021: Bitcoin and Ethereum and key altcoins extend the decline

Cryptocurrency Market December 29, 2021: Bitcoin price remains in a bearish zone below $ 50,000. BTC extended its decline below $ 47,500 before bouncing up. At 04:19 UTC, BTC is trading near $ 48,000 and continues to face further price losses.

Similarly, most of the big altcoins gained momentum. ETH is trading under $ 3,800 while XRP is testing $ 0.850. ADA widened its decline and got below $ 1.40 before rebounding.

Cryptocurrency Market December 29, 2021: Bitcoin Price

After the Bitcoin price closed below $ 50,000, it extended its decline. BTC broke the USD 48,500 support to move further into a bearish zone. The price even tested $ 47,400 and is currently consolidating losses. On the flip side, initial support is near the $ 47,400 mark. The next big support is at $ 47,000, below which it may drop to $ 45,500.

On the downside, the price could encounter resistance near the $ 48,800 level. The next resistance is near the $ 49,200 area above which a pullback to $ 50,000 is possible.

Cryptocurrency Market December 29, 2021: Ethereum Price

Ethereum price followed a similar pattern, extending the decline below $ 3,920. ETH even broke the USD 3,850 support. The next major support is near $ 3,800 below which it is likely to fall to $ 3,680.

On the downside, the price could struggle near $ 3,880. The next major resistance is near the $ 3,920 level above which the price could test $ 4,000.

Cryptocurrency Market December 29, 2021: ADA, BNB, SOL, DOGE and XRP prices

Cardano (ADA) accelerated below the USD 1.45 support. It even went below $ 1.40 before bouncing back. If the bulls gain strength, a move towards $ 1.48 is possible.

Binance Coin (BNB) tested the USD 525 support before correcting upwards. The price is currently consolidating near the $ 540 mark. The main hurdle to the upside is near the $ 550 mark, above which the price could accelerate in the short term.

Solana (SOL) is down 4% and is well below the $ 185 mark. It even trades under $ 180. The next big support is near the $ 172 mark. Any further loss could push the price up to $ 165.

DOGE tested the USD 0.172 support area. The price corrects losses and approaches the $ 0.180 level. A closing price above $ 0.180 is a must to move towards $ 0.188. If not, it can revisit $ 0.172 USD.

The XRP price has settled below the $ 0.90 level. The price even tested the $ 0.850 level. If the bears stay active, XRP can test $ 0.820. If it rises again, the USD 0.90 resistance level can be tested.

Cryptocurrency Market December 29, 2021: Another Altcoin Market

Many altcoins are down more than 6%, including ICX, ZEC, AAVE, KSM, XTZ, RVN, LINK, TFUEL, IOTX, AUDIO, STX, AR and COMP. Meanwhile, MIOTA is up 15%, hitting $ 1.50 and taking its weekly surge to nearly 14%. BTT hit $ 0.0030 after gaining 12% in a day and week.

Overall, Bitcoin price is consolidating above the $ 47,200 level. If BTC can’t hold above $ 47,200, it can slide further towards $ 45,500.

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