Crypto market: BTC is presently selling about $ 57,000. (04:22 UTC). A new rally requires a price above $ 58,500. Most big altcoins are trending upward. ETH is up 7% and has surpassed $ 4,700. To launch a stronger rally, ADA must break $ 1.60 and $ 1.62
Bitcoin Price on December 1, 2021 in the Cryptocurrency Market
After a rejection above USD 58,500, bitcoin’s price fell. BTC has tested the $56,250 support area and is now consolidating at $57,300. On the downside, the price is coming up against resistance near $58,000. The price might move beyond $58,500, which is the next significant barrier level.
Initial support on the downside is near the $ 56,250 level. Near $ 55,500, the next major support is forming, and a further decline is likely.
Ethereum Price on December 1, 2021 in the Cryptocurrency Market
The price of Ethereum accelerated after breaking through the $4,500 and $4,650 resistance levels. The price of ETH has risen by 7% to reach $4,700. The price is aiming for $4,800, with a rise to $ 5,000 probable if it reaches that level.
If there is a downward correction, support could be found near the $ 4,650 mark. Near the $ 4,550 mark, the next major support is found.
Prices for ADA, BNB, SOL, SHIB, and XRP on December 1, 2021 on the cryptocurrency market
Cardano (ADA) is still trading below the $ 1.60 barrier level. Above $ 1.62, a continuous climb is possible. Otherwise, it’s possible that it’ll drop to the USD 1.50 support level.
Binance Coin (BNB) is on the rise, with a price of over $625. The bulls appear to be aiming for a test of the $ 650 mark. The next major stumbling block is near $ 655, above which the price might reach $ 675.
Solana (SOL) has risen past $ 200 in a single day, gaining 6%. Near $ 215 is the immediate resistance, and a rally to $ 225 is probable if it is overcome. Any future price increases could send the price up to $ 240.
SHIB peaked at $ 0.0000055 before plummeting 4% in a single day. It has now dropped below $ 0.00050 and is approaching the $ 0.000450 support level.
The price of XRP is now consolidating near the $1.00 mark. A good closing price above USD 1.00 can boost the price up to USD 1.05. The price may correct below $ 0.95 if there isn’t a clear break. Near the $ 0.92 level, the next major support is found.
December 1, 2021, Cryptocurrency Market: Another Altcoin Market
STX, VGX, LUNA, RUNE, KCS, NEXO, UNI, CRV, QTUM, ALGO, and MATIC are among the cryptocurrencies that have gained more than 5%. The STX was the most successful, rising 32 percent to break USD 3.10 before falling lower.
Overall, Bitcoin’s price is still struggling to break beyond the $58,000 barrier. If the market closes above $58,500, a bigger rise above $60,000 could be triggered.