BTC, ETH and XRP Price Analysis for December 9

How long is the ongoing correction going to last?

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Bears have become more active, which has affected the rate of many coins. Polkadot (DOT) is the only crypto from the Top 10 coins that is located in the green zone.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

The key statistics for Bitcoin (BTC), Ethereum (ETH) and XRP:



Market Cap


Volume (24h)

Change (24h)



$338,968,763,559 $18,236.41 $38,099,617,631 -3.06%



$63,970,367,269 $562.04 $17,597,469,791 -2.25%



$24,950,600,173 $0.545925 $10,934,450,674 -7.07%


Yesterday, in the morning, the Bitcoin (BTC) price once again hit the upper border of the triangle and began to roll back below the average price level. The pullback turned out to be quite deep and broke through the lower border of the triangle, as a result of which the pair fell out of the narrowing range.

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

The BTC price tested the $18,000 level tonight. If buyers are unable to restore the price to the hourly EMA55, then the decline may continue to support at $17,500.

Bitcoin is trading at $18,215 at press time.


Yesterday morning, the price of Ethereum (ETH) was unable to overcome the upper border of the triangle, which turned the pair downward. In the area of the lower border, the pressure from bears intensified, and the altcoin came out of the narrowing side channel.

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By the end of the day, the pair tested the nearest support level of $560 and, overnight, the decline continued to the next weak level of $540.

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

If, today, buyers do not take emergency measures to save the price from a deep peak, then sellers will test the trend line before the end of the day.

Ethereum is trading at $567.08 at press time.


Yesterday, the lower border of the sideways range was steadfastly holding back the attempts of sellers to knock out the pair from the sideways channel. Late in the evening, bears intensified the onslaught and broke through this trend support, pulling the price back to the area of the $0.550 mark.

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

This morning, buyers may try to restore the pair to the area of average prices but, if the lower border of the purple triangle acts as resistance, then until the second half of this week the decline will continue below the psychological level of $0.50.

XRP is trading at $0.5512 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 [email protected]