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BTC, ETH and SHIB Price Analysis for December 31

Price Predictions
Fri, 12/31/2021 - 14:25
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Denys Serhiichuk
Can altcoins remain stronger than Bitcoin (BTC)?
BTC, ETH and SHIB Price Analysis for December 31
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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

Top coins by CoinMarketCap
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.

BTC/USD chart by TradingView
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.

ETH/USD chart by TradingView
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%.

SHIB/USD chart by TradingView
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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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.