The second day of December started with the continuing decline of the cryptocurrency market. Ethereum (ETH), EOS (EOS), and Binance Coin (BNB) are the only three coins currently located in the green.
Below are the current positions for Bitcoin (BTC), Ethereum (ETH), and XRP (XRP):
|Name||Ticker||Market Cap||Price||Volume (24H)||Change (24H)|
Our previous scenario for BTC remains relevant, as the current level is around $7,300 and critical in terms of further price movements.
Looking at the 4H chart, one can notice that BTC is almost fixed above $7,355 (61.8%). The next level is $7,581 (78.6%), and this might be achieved by the end of the current week.
However, the trading volume level needs to increase, or the price will come back to $7,000. If that happens, the short-term rise scenario will be canceled.
At press time, BTC is trading at $7,317.
ETH does not look as positive as BTC because there are fewer chances for the main altcoin to reach $150 and fix above it.
So far, ETH has not managed to break its bearish tendencies. As a short idea, one should consider a move to $140 as the trading volume index keeps declining, confirming the absence of buyers. ETH might attain this level through mid-December.
At press time, ETH is trading at $148.86.
XRP has been traded sideways since the last days of November. The coin has fluctuated between the range of $0.215 and $0.23.
According to the chart, XRP is located in bearish territory. This is confirmed by the increasing selling volume. The lines of the Moving Average Convergence/Divergence (MACD) indicator are also moving down. Respectively, traders might expect a return to the $0.215 level soon.
At press time, XRP is trading at $0.2195.