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BTC, ETH and XRP Price Analysis for December 4

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Mon, 4/12/2023 - 15:57
BTC, ETH and XRP Price Analysis for December 4
Cover image via www.tradingview.com

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The prices of most of the coins keep rising at the beginning of the week.

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BTC/USD

Bitcoin (BTC) is one of the biggest gainers today, going up by 4.88%.

Image by TradingView

On the daily chart, the price of BTC keeps growing after a breakout of the $38,437 level. At the moment, there are no bearish signals yet as the daily bar is about to close with no long wick. 

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In this case, a further rise to the resistance of $42,979 is the more likely scenario for the following week.

Bitcoin is trading at $41,564 at press time.

ETH/USD

Ethereum (ETH) is less of a gainer than BTC, rising by 3.26% over the last 24 hours.

Image by TradingView

From the technical point of view, the rate of ETH might have found a local peak as the volume is falling. Thus, if the candle closes below yesterday's peak, there is a chance to see a correction to the support of $2,131.

Ethereum is trading at $2,229 at press time.

XRP/USD

XRP is the exception to the rule, going down by 1.35%.

Image by TradingView

On the daily chart, the price of XRP has once again bounced off the support level of $0.5860. At the moment, the rate is in the middle of the channel, accumulating energy for a further move. In this regard, sideways trading in the area of $0.60-$0.64 is the more likely scenario for the next few days.

XRP is trading at $0.6157 at press time.

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