Bitcoin and Ethereum Struggle to Recover on Last Day of 2021, LUNA Jumps

Bitcoin and Ethereum Struggle to Recover on Last Day of 2021, LUNA Jumps


 

Bitcoin price is struggling to recover above USD 48,000.Ethereum is stuck below USD 3,800, XRP failed to stay above USD 0.85.LUNA gained 6% and surpassed the USD 87 level.

Bitcoin price started a minor upside correction above the USD 47,000 zone. BTC climbed above the USD 47,500 level but failed to clear USD 48,000. It is currently (04:27 UTC) consolidating near USD 47,400 and there is a risk of further declines below USD 46,500.

Similarly, most major altcoins are facing hurdles. ETH is facing resistance near the USD 3,800 level. XRP could revisit the USD 0.80 support zone. ADA is struggling to stay above USD 1.35.

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Total market capitalization

Source: www.tradingview.com

Bitcoin price

After a minor recovery wave, bitcoin price faced resistance near the USD 48,000 zone. BTC failed to continue higher and dropped below USD 47,500. The price even traded below USD 47,000 before recovering. The next major support is near USD 45,500, below which the bulls might struggle in the near term.

On the upside, the price might face resistance near the USD 47,500 level. The next barrier is now forming near the USD 48,000 level.

Ethereum price

Ethereum price also attempted a recovery wave above the USD 3,700 level. ETH surpassed the USD 3,750 level, but there was no move above USD 3,800. It is now trading above USD 3,760 and, if there are additional losses, the price might test USD 3,650. The next key support is near the USD 3,550 level. 

On the upside, an initial resistance is near USD 3,780. The next key resistance is near the USD 3,800 level, above which the price could test USD 3,880. 

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) spiked above the USD 1.365 level. However, it faced resistance near the USD 1.38 level and there was a bearish reaction. The price is now trading near USD 1.35, with a key support near the USD 1.32 level.

Binance coin (BNB) failed to gain pace above the USD 525 resistance. It is declining and trading near USD 510. The main support is near the USD 500 handle, below which there is a risk of a sharper decline in the coming sessions.

Solana (SOL) tried to recover above the USD 175 level, but there was no upside continuation. The price is trading near USD 170 and there could be a move towards the USD 165 level.

DOGE is consolidating near the USD 0.172 support zone. The next major support is near USD 0.170. Any more downsides could push the price towards the USD 0.165 level.

XRP price failed to gain strength above the USD 0.85 level. It is now trading near the USD 0.840 level. If there is another bearish reaction, the price could test the USD 0.80 level.

Other altcoins market today

Many altcoins are up over 8%, including ATOM, CEL, AAVE, SUSHI, CRV, ROSE, ALGO, and CELO. Out of these, ATOM gained almost 13% and surpassed the USD 30 level. Meanwhile, LUNA trimmed its weekly losses to less than 7% by jumping 6% in a day and reaching the USD 87 level. 

Overall, bitcoin price is struggling to clear the USD 48,000 resistance. If BTC fails to stay above USD 46,500, there could be a move towards USD 45,500.

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