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BTC, ETH and SHIB Price Analysis for December 31

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Fri, 31/12/2021 - 14:25
BTC, ETH and SHIB Price Analysis for December 31
Cover image via www.tradingview.com

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On the last day of 2021, most of the coins are in a correction phase.

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Top coins by CoinMarketCap

BTC/USD

During the day yesterday, buyers restored the Bitcoin price to the $47,745 level. Sellers did not allow the price to break above this level, and over the past night, the pair rolled back to the USD $47,000 mark.

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BTC/USD chart by TradingView

Buyers might try to form further bullish momentum this morning to continue the recovery toward the two-hour EMA55 area.

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If the attempt is unsuccessful, then by the end of the week, the Bitcoin price can break through the support of $46,000 and continue to decline to the area of $42,500.

Bitcoin is trading at $48,067 at press time.

ETH/USD

Yesterday afternoon, buyers held the initiative and were able to restore the Ethereum (ETH) price above the $3,700 level. The daily maximum was recorded in the area of $3,770.

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ETH/USD chart by TradingView

This morning, after an overnight pullback, buyers may try to continue to rise to the resistance area of $4,000.

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In case bulls fail to overcome the two-hour EMA55 level, the pair can return to the zone of the weekly low at $3,600.

Ethereum is trading at $3,799 at press time.

SHIB/USD

The rate of SHIB is almost unchanged since yesterday. The price has risen by only 0.34%.

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SHIB/USD chart by TradingView

After a sharp fall, SHIB is consolidating energy around the area of $0.000035. At the moment, sideways trading is the more likely scenario for the upcoming days. Bears can seize the initiative if the rate comes back to the support level at $0.00002952.

SHIB is trading at $0.00003421 at press time.

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