The cryptocurrency market closed November on a high note. In fact, leading cryptocurrencies attracted attention with significant price increases. Bitcoin (BTC) reached a new all-time high, approaching the $100,000 mark. Ethereum and Ripple attracted investors by making impressive gains. So, how will these three major cryptocurrencies perform in December?
Bitcoin (BTC) Price Analysis
In November, Bitcoin (BTC) recorded a price increase of approximately 39 percent. Moreover, BTC market cap reached $1.909 billion, giving it a market dominance of 56.13 percent. Investors are hoping that Bitcoin will continue this rise in December as well.
On the daily time frame, the BTC price chart is supported by the Simple Moving Average (SMA). Also, the RSI indicator is trading near the overbought level. If this bullish momentum continues, the Bitcoin price will surpass $100,000 and reach $110,000. However, in case of a possible decline, the price will drop to the $81,000 support level.
Ethereum (ETH) Price Analysis
Ethereum has seen significant interest in recent days, gaining around 8% on a weekly basis. Moreover, it has gained 47.07% this month, breaking the $3,650 level. Ethereum continues to attract investors’ attention with its strong rally.
The MACD indicator is giving a positive outlook with a solid green histogram. Also, on the daily chart, the EMA 50/200 day lines are forming a Golden Cross, increasing bullish expectations. If the price can defend the $3,697 resistance level, the ETH price will head towards $4,100. On the other hand, if the bears gain the upper hand, the price will retest the $3,000 support level.
Ripple (XRP) Price Analysis
Ripple continues to rise despite market fluctuations. XRP, which gained 264.89% in November, pleased its investors by exceeding the $ 1.8 level. In addition, Ripple ranked fifth with a market value of $ 106.76 billion.
The RSI indicator remains at the overbought level on the daily chart. This indicates that the Ripple price may continue to rise in the coming days. If the market moves in favor of the bulls, XRP may reach the $ 2.5 level. Otherwise, the price may retest the $ 1.50 support level. As we reported at Kriptokoin.com , possible positive developments in the ongoing SEC case will positively affect the price..
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