Price analysis 12/11: BTC, ETH, XRP, LINK, BCH, LTC, BNB, DOT, ADA, BSV

  • The concentration of the positive sentiment in the overall market conditions might face minor reductions as BTC is retesting the major support level of $17750 and Ethereum looking vulnerable for a dip towards the support level of $530 again 
  • The overall market capitalization is currently at $527.26B resulting in a decline of -3.55% over the day 
  • The total crypto market volume traded over the last 24 hours is at $117.39B resulting in a decline of -6.90% over the day 
  • The dominance of the crypto king is currently at 62.84% resulting in an increase of 0.19% over the day 

BTC/USD 

Source: Coinmarketcap

The world’s largest crypto asset has faced a negative trend for the past couple of days resulting in the testing of the support level of $17750 on the downside. The CMP is placed at $17822 with an overall loss of -3.22% over the day and increasing the weekly loss to 8.07%. The market capitalization is at $331,689,460,474 with a 24-hour volume traded of $27,772,942,645. A negative breakout below the mentioned support level can be a bearish signal for the upcoming trading sessions. 

ETH/USD 

Source: Coinmarketcap
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Ethereum also continued to face negative momentum on Friday’s market and looked vulnerable to retest the major support level of $530 on the downside. The CMP is placed at $540.58 with an overall loss of -4.37% adding the weekly loss to 11.30%. The market capitalization has reached $61,885,001,027 with a 24-hour volume traded of $11,708,411,098. The ETH/BTC pair is still trading negative with a loss of -0.71% bringing the current level down to 0.03046816 BTC. If the overall market conditions continue to stay negative in the upcoming trading sessions, we might expect ether to retest the support level of $530 again. 

XRP/USD 

Source: Coinmarketcap

XRP price levels faced negative reversals from the fresh resistance level of $0.60 resulted in an overall loss of -3.74% over the day. The CMP is placed at $0.548039 with the market capitalization of $25,107,774,599 and the 24-hour volume traded of $9,782,524,259. The XRP/BTC pair still trade negatively with a loss of -0.91% bringing the current level down to 0.00003083 BTC. The crypto asset may revive its positive momentum followed by its airdrop of spark token planned for tomorrow (12th Dec 2020).  

LINK/USD 

Source: Coinmarketcap

As Chainlink price levels were looking unstable above the crucial mark of $12.00 during yesterday’s market session, the crypto asset again faced a negative crossover below the mark in the current market session. The CMP is placed at $11.60 with an overall loss of -5.06% adding the weekly loss to 15.51%. The LINK/BTC pair continues to perform negative with a loss of -1.86% bringing the current level to 0.00065505 BTC. The price levels have got major support placed at $11.40. 

BCH/USD 

Source: Coinmarketcap

Bitcoin Cash price levels suffered a negative breakout below the crucial mark of $260.00 on Friday’s market session. The CMP is placed at $257.07 with an overall loss of -2.77% adding the weekly loss to 14.13%. The market capitalization is at $4,819,365,059 and the 24-hour volume traded of $1,927,572,194. However, the BCH/BTC pair has turned positive with a marginal gain of 0.32% bringing the current level to 0.01449472 BTC. The positive conversion of the pair might be because of the major support level of $255.00 getting close to the CMP. 

LTC/USD 

Litecoin price levels looked for sustainability above the crucial mark of $70.00 while facing negative momentum on Friday’s market session. The CMP is placed at $70.27 with an overall loss of -6.06 adding the weekly loss to 19.61%. The market capitalization is at 44,696,644,960 with the 24-hour volume traded of $965,928,513. The LTC/BTC pair continues to perform negative with a loss of -3.22% bringing the current level to 0.00397201 BTC. 

BNB/USD 

Source: Coinmarketcap

Binance coin faced a negative breakout below the major support level of $27.00 on Friday’s market session. The CMP is placed at $26.87 with an overall loss of -3.22% over the day adding the weekly loss to 11.16%. The market capitalization is at $3,913,346,117 with the 24-hour volume traded of $261,712,510. The BNB/BTC pair continues to perform negatively with a loss of -0.54% bringing the current level to 0.00151555 BTC. The price levels are now having major support placed at $25.00 and $21.00 respectively. 

DOT/USD 

Source: Coinmarketcap

Polkadot price levels suffered a negative breakout below the major support level of $4.70 on Friday’s market session. The CMP is now placed at $4.61 with an overall loss of -3.44% over the day adding the weekly loss to 13.01%. The market capitalization is at $4,111,812,957 with the 24-hour volume traded of $346,161,802. The DOT/USD pair still trades negative with a loss of -0.52% bringing the current level down to 0.00026042 BTC. 

ADA/USD 

Source: Coinmarketcap

ADA price levels suffered another negative breakout below the crucial mark of $0.14 on Friday’s market session. The CMP is placed at $0.136001 with an overall loss of -5.72% adding the weekly loss to -14.77%. The market capitalization is at $4,301,365,466 with the 24-hour volume traded of $825,536,382. The ADA/BTC pair is facing an overall loss of -2.785 bringing the current level down to 0.00000770 BTC. 

BSV/USD 

Source: Coinmarketcap

Bitcoin SV price levels also suffered a negative breakout below the crucial mark of $160.00 on Friday’s market session. The CMP is placed at $159.66 with an overall loss of -4.28% adding the weekly loss to -11.66%. The market capitalization is at $2,971,266,606 with the 24-hour volume traded of $383,575,312. The BSV/BTC pair is also performing negative with a loss of -1.03% bringing the current level to 0.00905151 BTC. 

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Vasu Singhal
Vasu Singhal is a management student and a stock market trader. He believes that investment avenues and opportunities are very diversified. Therefore, he has an interest in blockchain technology too. He likes to evaluate best investments available in the financial market with showcasing the required skills.

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