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21 January 2021

Bitcoin, Ether, and XRP Weekly Market Update December 7, 2020 | BTCMANAGER

Bitcoin, Ether, and XRP Weekly Market Update December 7, 2020 | BTCMANAGER


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The leading cryptocurrency climbed up to $18,208 and ended the seven-day period with a 1.2 percent loss.

The coin managed to compensate for some of the losses in the evening, but could not avoid closing with a loss to $18,762 and at the same time dropping below the weekly/daily resistance.

Then on Sunday, December 6, it continued to grow and closed the week at $19,389.

It closed the week with a 2.8 percent price increase and was once again targeting the psychological level of $600.

On Thursday, December 3, the leading altcoin hit the weekly resistance at $620, but once again failed to close above it.

We did not see any major changes in the price on Sunday, December 6 and the coin continued to hover around the horizontal line.

The XRP/USD pair closed on Sunday, November 29 with a short red candle to $0.605 after successfully re-taking the monthly horizontal support during the previous session.

It ended the week with a 35 percent price increase and formed a weekly candle above $0.5 for the first time since November 2018.

Bulls were once again targeting the next daily/weekly resistance at $0.70 while their preferred altcoin ended November 177 percent up.

The weekend of December 5-6 started positively for buyers as they managed to once again turn the tide, at least temporarily.

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