Bitcoin and Ethereum struggle to recover on last day of 2021, LUNA jumps

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The price of bitcoin is struggling to climb back above $ 48,000. Ethereum is stuck below $ 3,800, XRP failed to stay above $ 0.85. LUNA gained 6% and topped the $ 87 level.

The price of Bitcoin has started a minor bullish correction above the $ 47,000 area. BTC broke above the $ 47,500 level but failed to clear $ 48,000. It is currently consolidating (04:27 UTC) near $ 47,400 and there is further downside risk below $ 46,500.

Likewise, most of the major altcoins face obstacles. ETH is facing resistance near the $ 3,800 level. XRP may revisit the $ 0.80 support area. The ADA struggles to stay above $ 1.35.

Total market capitalization

Source: www.tradingview.com Bitcoin price

After a minor rallying wave, the price of bitcoin has encountered resistance near the $ 48,000 area. BTC failed to continue rising and fell below $ 47,500. The price even traded below $ 47,000 before recovering. The next major support is near $ 45,500, below which bulls may struggle in the short term.

On the upside, the price may face resistance near the $ 47,500 level. The next barrier is now forming near the $ 48,000 level.

Ethereum price

The price of Ethereum also attempted a rally above the $ 3,700 level. ETH broke above the $ 3,750 level, but there was no movement above $ 3,800. It is now trading above $ 3,760 and, if there are any further losses, the price could test $ 3,650. The next key support is near the $ 3,550 level.

On the upside, initial resistance is near $ 3,780. The next key resistance is near the $ 3,800 level, above which the price may test $ 3,880.

ADA, BNB, SOL, DOGE and XRP prices

Cardano (ADA) broke the $ 1.365 level. However, it encountered resistance near the $ 1.38 level and there was a bearish reaction. The price is now trading near $ 1.35, with key support near the $ 1.32 level.

Binance coin (BNB) failed to break above the resistance at $ 525. It is down and is trading near $ 510. The main support is near the $ 500 handle, below which there is a risk of a steeper decline in the coming sessions.

Solana (SOL) attempted to rally above the $ 175 level, but there was no further upside. The price is trading near $ 170 and there could be a move towards the $ 165 level.

DOGE consolidates near the $ 0.172 support area. The next major support is near $ 0.170. Other downsides could push the price towards the $ 0.165 level.

The price of XRP failed to strengthen above the $ 0.85 level. It is now trading near the $ 0.840 level. If there is another bearish reaction, the price could test the $ 0.80 level.

Other altcoins market today

Many altcoins rose over 8% including ATOM, CEL, AAVE, SUSHI, CRV, ROSE, ALGO, and CELO. Of these, ATOM gained nearly 13% and broke above the $ 30 level. Meanwhile, LUNA reduced its weekly losses to less than 7% by jumping 6% in one day and hitting the $ 87 level.

Overall, the price of bitcoin is struggling to break through the resistance of $ 48,000. If BTC fails to stay above $ 46,500, there could be a move towards $ 45,500.

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