Main navigation

BTC, ETH, XRP, ADA and BNB Price Analysis for December 4

Sat, 12/04/2021 - 15:26
article image
Denys Serhiichuk
Which coin has returned to the bullish trend sooner than the others?
BTC, ETH, XRP, ADA and BNB Price Analysis for December 4
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.

Read U.TODAY on
Google News

The weekend has begun with a market dump as all of the coins have followed the sharp fall of Bitcoin (BTC).

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) has gone down by 16.97% over the last 24 hours.

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

Bitcoin (BTC) has bounced back to the zone of the most liquidity at almost $40,000. The fall has been accompanied by a high trading volume, which means that traders may have fixed their positions.

card

In this case, one may expect a return to the zone around $50,000. If buyers can do that, the rise may continue to $53,000 to close the CME gap.

Bitcoin is trading at $47,400 at press time.

ETH/USD

Ethereum (ETH) has not shown the same drop as Bitcoin (BTC). However, the chief altcoin has fallen by almost 15%.

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

Despite the fall, Ethereum (ETH) is trying to stay above the vital support at $4,000. If bulls can manage to do that by the end of the day, there is a good chance of seeing a bounce-off to $4,500 next week.

Ethereum is trading at $3,948 at press time.

XRP/USD

XRP is the biggest loser from the list, falling by 20% since yesterday.

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

XRP made a false breakout of the support at $0.70, followed by a sharp bounceback.

card

If the daily candle fixes above this level, buyers may seize the initiative and get the rate of XRP back to the nearest resistance at $0.85. Such a scenario is relevant until the end of the upcoming week.

XRP is trading at $0.78 at press time.

ADA/USD

Cardano (ADA) is not an exception to the rule, falling by 18.41%.

ADA/USD chart by TradingView
ADA/USD chart by TradingView

Cardano (ADA) has almost touched the support at $1.072. The fall has been supported by a high trading volume, which means that there is a possibility of seeing a correction soon. If that happens, slight growth may lead ADA to the closest resistance area at $1.50 shortly.

ADA is trading at $1.363 at press time.

BNB/USD

Binance Coin (BNB) has lost the least from the list, with a decline of 13%.

BNB/USD chart by TradingView
BNB/USD chart by TradingView

On the daily chart, Binance Coin (BNB) bounced back to the zone of the most liquidity around $490. If the price of the native exchange coin can remain above the vital mark at $500, bulls may begin accumulating power to restore their lost positions.

BNB is trading at $548 at press time.

article image
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.