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BTC, ETH and XRP Price Analysis for December 5

Has the correction of the top coins finished yet?

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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 CryptoComes. 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.

The weekend has begun with a bearish mood on the cryptocurrency market as almost all Top 10 coins are in the red zone. Cardano (ADA) is the only exception to the rule, rising by 1.70%.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

The vital data for Bitcoin (BTC), Ethereum (ETH) and XRP:

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin 

BTC

$353,974,151,304 $19,034.89 $33,813,172,835 -0.15%

Ethereum

ETH

$67,323,647,082 $591.46 $17,164,822,331 -0.80%

XRP

XRP

$26,829,093,193 $0.590163 $10,441,491,265 -2.89%

BTC/USD

Despite yesterday’s drop of Bitcoin (BTC), the rate of the leading crypto has dropped by only 0.15% since yesterday.

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

On the daily chart, Bitcoin (BTC) has been trading sideways, expecting a breakout soon. Yesterday, the selling volume was at a low level, which means that bears have a low chance of seizing the initiative in the long-term perspective.

👉 MUST READ BTC, ETH, and XRP Price Analysis for November 30related article image

To sum up, the breakout of the peak at around $19,900 remains the relevant scenario for the upcoming days.

Bitcoin is trading at $19,044 at press time.

ETH/USD

Ethereum (ETH) is still dominated by bears as the price of the main altcoin has gone down by almost 1%, while the rate change over the last week has accounted for +14.72%.

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

Ethereum (ETH) is following Bitcoin (BTC) as the long-term bullish trend has not been broken yet. The liquidity level remains high, which confirms the buyers' potential to keep the growth. Thus, the Ttriangle pattern has been formed, the breakout of which will confirm the retest of the resistance at $638.

Ethereum is trading at $590.02 at press time.

XRP/USD

XRP is the main loser today. The rate of the third most popular crypto has gone down by 2.89% over the previous 24 hours.

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

From the technical point of view, XRP has not accumulated enough power to set new peaks. The trading volume, as well as the liquidity levels, remain low, which means that buyers need more time for a price blast. That is why trading in the range of $0.63-$0.69 is the more likely scenario for the upcoming days.

XRP is trading at $0.5769 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