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Cryptocurrency market December 15, 2021: Bitcoin and Ethereum show signs of life

Cryptocurrency Market December 15, 2021: Bitcoin price has formed a base of over USD 46,000. As a result, BTC launched a steady wave of recovery and climbed above the $ 47,500 region. At 04:19 UTC, BTC encounters strong resistance near the $ 48,500 region.

Similarly, most of the big altcoins are attempting a bullish correction. ETH has rallied above $ 3,800 but is facing strong resistance near $ 3,880. XRP is back above $ 0.800 and is currently consolidating. ADA is above the USD 1.20 support area.

Cryptocurrency Market December 15, 2021: Ethereum Price

Ethereum price bounced back from its losses and was trading above the $ 3,800 mark. ETH even climbed above $ 3,850 but failed to gain in strength above $ 3,880. To move further towards USD 4,000, the price has to cross the USD 3,880 threshold.

If it drops again, the price can test $ 3,750. The next major support is near the $ 3,650 level below which the bears are testing $ 3,550.

Cryptocurrency Market December 15, 2021

Cryptocurrency Market December 15, 2021: Bitcoin Price

After falling again, Bitcoin price found support near the $ 46,000 mark. BTC formed a base and started a recovery wave above USD 47,000. It’s even trading above $ 48,000, but the bears are active near $ 48,500. A closing price above $ 48,500 could trigger a move towards $ 50,000.

Immediate support on the downside is at $ 47,200. The next big support is near the $ 46,000 mark, below which a retest of $ 46,000 is possible.

Cryptocurrency Market December 15, 2021: ADA, BNB, SOL, SHIB and XRP prices

Cardano (ADA) rose to the $ 1.20 support. The price goes up and trades above $ 1,232. Immediate resistance is near $ 1.25, above which a rally to $ 1,265 is possible.

Binance Coin (BNB) tested the $ 510 level and stayed stable above $ 500. It is recovering and trading above $ 525. The first major resistance is at $ 535, above which a test of $ 550 is likely.

Solana (SOL) is rising and has moved above the $ 155 mark. The price climbed above $ 160 but is currently facing resistance near $ 165. The next major resistance is at $ 172.

SHIB is stable above $ 0.0000320. It is currently consolidating near the $ 0.000335 level. If there is a recovery wave, the bulls could attempt to break above the $ 0.000035 zone. The next major resistance is near the $ 0.0000038 level.

XRP price tested the USD 0.780 support area and is currently recovering from the losses. The price is back above $ 0.80 but there are plenty of hurdles on the upside. The main breakout zone is close to $ 0.82.

Cryptocurrency Market December 15, 2021: Another Altcoin Market

Many altcoins are up more than 5%, including CAKE, DOGE, AVAX, EGLD, MATIC, HNT, WAVES, KCS, OKB, XTZ, GRT, NEAR, DESO and XEC. Of these, CAKE, DESO and NEAR increased by more than 18%. Meanwhile, OHM was the worst performer in the top 100 and is now down nearly 8%.

Overall, Bitcoin price is rebounding above the $ 47,500 mark. In order to continue to rise, the price will have to overcome the resistance of USD 48,500 in the short term.

Sources: Coincu

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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

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