Cryptocurrency today: Bitcoin’s price did not grow any higher after reaching USD 59,000, and it dipped below USD 56,000. In addition, ETH is currently down 5% and has broken through the $ 4,550 support level. ADA is now trading at a price of less than $1.55.
Bitcoin Price on December 2, 2021 in the Cryptocurrency Market
Bitcoin’s price continued to fall after falling below $ 57,500. BTC dropped below the $ 56,500 and $ 55,500 support levels. Currently, the price is rising and trading above $ 56,400. If the price continues to fall, it might reach USD 53,500. Near the $ 52,000 mark, the next major support is found.
On the downside, the price is coming up against resistance near $ 56,500. The first big barrier is near $ 57,200, and a retest of $ 58,000 is likely if it is broken.
Ethereum Price on December 2, 2021 in the Cryptocurrency Market
The Ethereum price fell after failing to break through the USD 4,800 resistance level. ETH is down 5% and has broken through the USD 4,550 support level. Further losses might push the price down to the USD 4,350 support level.
If the price increases again, it may test the $ 4,550 mark. Near the $ 4,620 level, the first substantial barrier is formed.
Prices for ADA, BNB, SOL, SHIB, and XRP on December 2, 2021 on the cryptocurrency market
Cardano (ADA) is trading down after breaking through the $ 1.60 barrier mark. It briefly fell below $ 1.52 before resuming its upward trend. A move towards $ 1.45 could be triggered if the price breaks below $ 1.50.
Binance Coin (BNB) has cut its losses and is now trading at $615. If the price falls below $ 600, it may fall into the $ 580 support level.
Solana (SOL) is still trading above $ 220 and is up more than 4%. The immediate resistance level is $ 225, and a surge to $ 240 is probable if it is broken. Any additional gains might drive the price up to $250.
SHIB has dropped below $ 0.000042 and is currently down over 7% in a single day. It even went as low as $ 0.000040. A drop towards the $ 0.000035 support level is possible if the price breaks below the $ 0.000040 level.
The price of XRP is decreasing and is currently trading below the $1.00 mark. The price could hit $ 0.92 if it breaks through immediate support near the $ 0.950 mark. The $ 1.00 level, on the other hand, represents a huge roadblock for bulls.
Market for Cryptocurrencies on December 2, 2021: Another Altcoin
STX, ZEN, SHIB, QTUM, BAT, RUNE, CRV, SAND, AAVE, CAKE, WAXP, and LRC are among the cryptocurrencies that have dropped more than 6%. The STX is down 12% and is currently trading below $ 2.70.
Meanwhile, MATIC crossed the $ 2.10 barrier after gaining over 12%, while LUNA gained about 12% and is on the verge of breaking the $ 65 barrier.
Overall, Bitcoin price is attempting to recoup its losses, but if bulls fail to hold $ 55,500, a drop below the $ 52,000 support level is probable.