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Crypto Market Analysis: Bitcoin and Ethereum Price Try to End 2021 in Positive

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The largest cryptocurrency by market capitalization Bitcoin(BTC) started a slow rally above the $47.500 price. Bitcoin even climbed slightly above the price zone at $48.500 and now (14:48 UTC) corrects gains close to $48.000.

Most altcoins in the market are consolidating below major hurdles. Bulls are trying to keep ETH above $3.800 and $3.820. XRP is trying to hold above $0,85 to recoup losses. ADA Cardano is also struggling to break the $1,38 resistance.

Bitcoin price

After dropping close to $46.000 this week, the bitcoin price initiated a small bullish correction. BTC rebounded above $48.500 before correcting back lower. A successful close above $48.700 could open the door for a further price increase. The next key resistance could be near the $50.000 level.

Initial negative support is near $47.500. The next big support is near the price zone at $47.000, below which the price may start a further decline.

Ethereum Price

O ethereum price is trying to bounce back and was able to break the resistance level at $3.800 before correcting back down. If there is a clear break of the resistance zone above $3.800, the price may perhaps test the $4.000 resistance zone.

A bearish support is near the $3.720 level. However if the bulls fail the bears may try to push the price back down to $3.700. A break of the $3.700 support could make the ethereum price revisit $3.600.

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ADA, BNB, SOL, DOGE and XRP price

Cardano (ADA) is consolidating above the $1,35 level. It is facing resistance near the $1,38 level. A clear bullish break above the $1,38 level may even push the price above the $1,40 level. Otherwise, it could correct the drop towards the $1,32 level.

The coin binance (BNB) is again trying to make an upside break above the $525 resistance. A proper close above $525 could lift market sentiment. In this case, the price may rise to the $540 level in the short term.

Left (LEFT) is consolidating near the $175 level. An immediate resistance is near the $180 level. The main resistance is near the $188 level, above which the price could rise to the $200 level.

DOGE is stuck below the resistance of $0,175. If bulls push the price above $0,175, it could test the $0,180 resistance. On the other hand, there is a risk of a move towards the $0,165 level.

The price XRP is attempting a bullish break above the $0,85 level. If bulls are successful, the price could rise to the $0,92 level. On the other hand, the price may perhaps start a further drop to $0,80.

Disclaimer: The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
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