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BTC, ETH and XRP Price Analysis for December 16

Can Bitcoin (BTC) keep trading above $20,000 to the end of the week?

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Cover image via www.tradingview.com

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Even though Bitcoin (BTC) is about to set new peaks, not all coins are following its growth. Neither bulls nor bears are dominating at the moment among the Top 10 digital assets.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

The key information on Bitcoin (BTC), Ethereum (ETH) and XRP today:

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin 

BTC

$367,340,812,496 $19,809.67 $30,003,220,440 2.63%

Ethereum

ETH

$67,599,051,781 $594.31 $10,773,310,461 1.34%

XRP

XRP

$20,800,793,634 $0.458216 $10,678,992,813 -5.27%

BTC/USD

Yesterday morning, the Bitcoin (BTC) price rolled back to the hourly EMA55. Sellers were able to pierce the support of the moving average, but it withstood the bearish onslaught and pushed the pair into recovery.

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

Before the end of the day, buyers were able to return the pair to the area of ​​the $19,500 mark; however, it has not yet been possible to gain a foothold in the weekly high zone. The Bitcoin (BTC) price fell back into the average price area tonight. One may expect support from the POC line this morning. If buyers are able to reverse the pair in the area of ​​the Volume Profile indicator line, then by the end of the day bulls will try to gain a foothold above the $20,500 level.

Bitcoin is trading at $19,848 at press time.

ETH/USD

Yesterday, the moving average EMA55 kept the price of Ethereum (ETH) from a deep pullback throughout the day. In the evening, buyers even managed to restore the pair above the POC line, but tonight the price returned to the support of the hourly EMA55 again.

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

If sellers push through this level of average prices, then the pair will continue to decline to the support of $560.

Ethereum is trading at $594.81 at press time.

XRP/USD

Yesterday, sellers pressed the XRP price throughout the day and achieved a decline in the pair to the level of $0.450.

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

Tonight the pair has marked a monthly minimum at $0.437 and is trying to consolidate in the support area of $0.444. If the bears push through this weak support level, then the decline may continue to the $0.40 area.

👉 MUST READ XRP Price Analysis for December 15related article image

If consolidation continues in the area of weak support this morning, buyers will restore the pair to the area of average prices by the end of the day.

XRP is trading at $0.4586 at press time.

 

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Denys Serhiichuk

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 & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@cryptocomes.com