Cryptocurrency Market December 27, 2021: Bitcoin price corrected down from the $ 51,500 region. BTC tested the $ 50,000 zone and at 04:56 UTC, BTC was trading again at $ 51,000. A significant move above $ 51,500 can propel the price towards $ 53,000.
Similarly, most of the major altcoins are also rising. ETH could accelerate if there is a clear move above $ 4,120. XRP is currently trading below the $ 1.00 resistance. ADA could accelerate towards $ 1.50.
Cryptocurrency Market December 27, 2021: Bitcoin Price
After a slight downward correction, Bitcoin price formed a base above the $ 50,000 mark. BTC began rising again above the $ 50,500 and $ 50,800 levels. It faces resistance near the $ 51,200 mark. The closest resistance is near the $ 51,500 zone, above which a rally to $ 53,500 is possible.
On the flip side, initial support is near the $ 50,500 mark. The next big support is close to $ 50,000. A daily close below $ 50,000 could trigger a larger downward correction.
Cryptocurrency Market December 27, 2021: Ethereum Price
Ethereum price is trading above the $ 4,000 pivot zone. The price is currently targeting the resistance level of $ 4,120. The next major resistance is near the $ 4,150 level, above which the price can test $ 4,250.
Initial support is near the $ 4,050 mark. The next major support is near the $ 4,000 level, below which a retest of $ 3,920 is possible.
Cryptocurrency Market December 27, 2021: ADA, BNB, SOL, DOGE and XRP prices
Cardano (ADA) began a steady rise out of the USD 1.40 support area. It is trading above $ 1.45 and could continue to climb to $ 1.48. Main weekly resistance is now near $ 1.50.
The Binance Coin (BNB) is approaching the USD 550 resistance. A significant break above USD 550 can move the price towards USD 565. If corrected down, the price can drop to $ 532.
Solana (SOL) has accelerated above the $ 188 resistance and is testing the $ 200 resistance. A closing price above $ 200 could lift market sentiment. Otherwise, it could see a downward correction towards the $ 188 level.
DOGE rose above the $ 0.180 and $ 0.185 levels. The next major resistance is near $ 0.195, above which a rally to $ 0.20 is possible. Otherwise, it can be corrected down toward $ 0.172.
The XRP price is consolidating above the $ 0.90 level. Immediate resistance is near the $ 0.950 level. The next major resistance is at $ 1.00, which is where the bears may take a stand. On the other hand, $ 0.90 is the main breakout support.
Cryptocurrency Market December 27, 2021: Another Altcoin Market
Many altcoins are up more than 10%, including VGX, KDA, THETA, FTM, ROSE, UNI, KSM, MINA, STX, ATOM and ZIL. Of these, the KDA rose 20%, surpassing the $ 15 level. In addition, the price has increased 47% in one week.
Overall, the Bitcoin price is bullish and a test of $ 51,500 is possible. If BTC stabilizes above $ 51,500, it could gain upside momentum in the short term.
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