On December 7th, 2021, Bitcoin broke through the $49,500 resistance mark, while ETH had reached a total of $4,350. SOL is currently trading above $190, while many altcoins have gained more than 8% in the last 24 hours
December 7th, 2021: Bitcoin Price
It took a while for the bitcoin price to break through the $49,500 resistance mark. Bitcoin’s price has already surpassed $50,000, and it’s just going up from here. The price is currently above the $51,100 mark, and the next big barrier is located near the $52,000 level.
If the price continues to fall, $ 50,000 could serve as a safe haven. At around $ 49,500, the price can fall to $ 48,000 if it breaks below that level.
Ethereum price in the crypto market: December 7, 2021
The Ethereum price is still well priced and could increase beyond USD 4,200 and USD 4,250, which act as a barrier. A total of $4,350 has been reached and is currently being tested. The price could rise as high as $ 4,500 if there is a substantial movement above $ 4,350.
On the downside, the $ 4,250 level serves as the first level of support. Currently, a strong support area is emerging near the $4,150 level.
December 7, 2021: ADA, BNB, SOL, SHIB, and XRP values in the crypto market
An important support level was detected at $ 1.25 for Cardano (ADA). A breach of the $1.35 and $1.40 resistance levels was achieved. After a few more days of bullish activity, the price could rise as high as $ 1.50.
The Binance Coin (BNB) started to recover from the USD 532 support level. It surged by more than 7% to breach the USD 580 level of support. BNB’s next target could be USD 600, which could lead to a rise to USD 620.
This time around, the $ 175 level of support was tested before Solana (SOL) began its new bullish run. Trading above $190, it’s running into resistance near $200. The price could rise to $ 220 if it closes over the $ 200 resistance level.
SHIB regains its footing over $ 0.000365 in the short term. The $ 0.000038 level serves as an immediate barrier, above which a return to the $ 0.00040 area is possible. Otherwise, it could fall back down to $ 0.000035, or even worse.
Recorded and tested the $0.750 level for the XRP price. Recovery from losses has sent the price back above $0.800. In order for the price to break through at $0.850, the next major level of resistance is expected to be $ 0.900.
Altcoin Market on December 7, 2021
Many altcoins, including BTT, BSV, LRC, MATIC, ROSE, AVAX, CRO, BAT, FTM, ZEN, ANKR, and FLOW, have gained more than 8% in the last 24 hours. AVAX is up nearly 12%, while MATIC is up 17% and is currently trading at $ 2.30 in the market.
In general, the price of Bitcoin has returned to the $ 50,000 barrier. If the price of BTC rises steadily, it may soon reach $ 52,500.