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BTC, ETH and XRP Price Analysis for December 18

Sat, 12/18/2021 - 14:41
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Denys Serhiichuk
Can the second part of December become bullish for the cryptocurrency market?
BTC, ETH and XRP Price Analysis for December 18
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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Saturday has begun with a neutral mood on the cryptocurrency market as some coins are in the red zone, while others are trying to rise.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) is the only falling coin from our list. The rate of the chief crypto has declined by 0.63% since yesterday.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

Bitcoin (BTC) keeps going down; however, bulls still have the chance to seize the initiative until the price remains trading above the vital green support at $41,967. At the moment, BTC is located around the zone of the most liquidity around $47,000.

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If buyers can break this level, there are chances to see slight growth to the important area of $50,000.

Bitcoin is trading at $46,824 at press time.

ETH/USD

Ethereum (ETH) is the biggest gainer today as the price of the main altcoin has risen by 3.30% over the last 24 hours.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

Ethereum (ETH) is more bullish than Bitcoin (BTC) as it is accumulating power for possible upward movement. Moreover, the high trading volume confirms this statement.

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In this case, Ethereum (ETH) might come back to the zone around $4,500 if it fixes above $4,000 shortly.

Ethereum is trading at $3,932 at press time.

XRP/USD

XRP is following the rise of Ethereum (ETH), going up by 2.50%.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

From the technical point of view, XRP is trading similarly to ETH as it is also located in a wide channel. Currently, neither bulls nor bears are dominating as the price is far from its vital levels. If sellers can continue the pressure and the daily candle fixes below $0.70, one might expect a sharp drop to the $0.60 mark.

XRP is trading at $0.8207 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.