Crypto market December 9, 2021: BTC is relatively stable and is currently (04:24 UTC) facing resistance near USD 50,000. A closing price above $ 50,000 could push the price down to $ 52,000.
Also, most of the big altcoins are gaining upward momentum. ETH broke through $ 4,350 and could gain strength above $ 4,400. XRP is up nearly 5% and is trying to break above $ 0.85. ADA rises towards the critical resistance at $ 1.40.
Cryptocurrency Market December 9, 2021: Ethereum Price
Ethereum price found support near the $ 4,200 region and started spiking again. ETH has passed the USD 4,350 resistance and is showing positive signs. A significant spike above $ 4,400 and $ 4,420 could result in a larger uptrend.
On the flip side, initial support is near the $ 4,350 mark. The next major support is currently forming near the USD 4,220 level.
Cryptocurrency Market December 9, 2021: Bitcoin Price
After the Bitcoin price fell below $ 50,000, it found support near the $ 49,000 level. BTC has started another spike but is trying to hit $ 50,000. Closures above $ 50,000 and $ 50,500 could open the door to further gains. The next major resistance for the bulls is near the $ 52,000 mark.
Immediate support on the downside is at $ 49,200. The next big support is at $ 49,000, below which it can test $ 47,500.
Cryptocurrency market December 9, 2021: ADA, BNB, SOL, SHIB and XRP prices
Cardano (ADA) has settled above the $ 1.35 level and is nearing the $ 1.38 resistance. The main hurdle remains near the $ 1.40 mark, above which it can rise to $ 1,465.
Binance Coin (BNB) rebounded nearly 6% and broke the USD 600 resistance. The immediate resistance is at $ 612. A rally above $ 612 could push the price towards $ 630.
Solana (SOL) found support above the $ 180 mark. It recovers losses and trades near the $ 190 mark. The initial hurdle is $ 195, but the main hurdle is $ 200. On the downside, $ 180 is strong support.
SHIB is trading in positive territory above the $ 0.000355 level. It will stop the loss and trade near the $ 0.000370 level. If there is more upside potential, the price can test the $ 0.000038 zone. The next major resistance is near the $ 0.0000040 level.
The XRP price rose nearly 5% and even broke the resistance area of $ 0.850. If the bulls remain active, the price can test the $ 0.88 resistance level. Otherwise, it could see another decline towards the USD 0.800 support area.
Cryptocurrency Market December 9, 2021: Another Altcoin Market
Many altcoins are up more than 5%, including WAXP, NEAR, CELO, HT, EOS, AMP, AAVE, LUNA, LRC, RUNE, 1INCH, and GRT. Among these, LUNA outperformed DOGE and was included in the list of the largest cryptocurrencies by market capitalization. The price is up 13% and is trading above $ 76. Prices also went up 18% in a week. Meanwhile, CELO and NEAR gained around 20% while BTT halted gains and corrected 11% in one day.
Overall, the Bitcoin price is consolidating near the $ 50,000 mark. If BTC gains strength above $ 50,000, it could start a new rally to $ 52,000 in the near future.
Join X1k.co Telegram to keep track of news and comment on this article: t.me/x1kcrypto
Disclaimer: This article is for informational purposes only, not investment advice. Investor should research carefully before making decision. We are not responsible for your investment decision