BTC, ETH, and XRP Price Analysis for December 6
Bears keep exerting pressure on the cryptocurrency market, with all coins from the top 10 list being in the red zone.
The price of Bitcoin (BTC) recovered above the $47,745 level, and fixed above it by the end of the week during sideways consolidation on Saturday. The upper border of the side channel was the resistance at the level of $49,800, which buyers could not test.
If in the near future the 61.8% Fibonacci level can keep the pair from falling, then the BTC price can recover in the area of $53,400 at the beginning of the week.
Bitcoin is trading at $48,728 at press time.
Last Saturday, the Ethereum (ETH) price recovered above the psychological level of $4,000, and this recovery continued close to the level of $4,300. The local peak is indicated in the area of $4,258.
Until this morning, buyers have not yet had time to test the green resistance of $4,300.
If at the beginning of this week the bulls manage to restore the pair above this green level, then one can expect an increase in the area of $4,500 in the second half of the week.
Ethereum is trading at $4,085 at press time.
Over the weekend, the XRP price recovered above the $0.80 resistance and marked a local high at $0.864.
On Sunday, the pair could not hold in the high zone and rolled back to the blue level of $0.80, trying to find support there.
The lateral consolidation of the pair right on the blue line continued until this morning. If it keeps the pair from falling today, then the recovery may continue to the area of $0.90 in the first half of the week.
XRP is trading at $0.7833 at press time.Source