Technical analysis and price predictions for the most relevant cryptocurrencies
Bitcoin continued to set a new ATH price today at $35,868 after the cryptocurrency rallied by another 9.2%. The growth of Bitcoin over the past 3-months has been truly extraordinary after the cryptocurrency managed to rise by a robust 225%.
We are heading towards the end of 2020 and therefore you are reading the last weekly selection of top 3 coins to watch this year. Despite the festive spirit, cryptocurrency markets and developers are not at rest. Quite the opposite – we are seeing some significant price action and even the roll-out of a few important network upgrades.
Etheruem set a fresh 2020 high today, around $738, after seeing a 35% price hike over the past month of trading. The coin had set the previous 2020 high toward mid-December but failed to break the resistance at $675 (bearish .786 Fib Retracement). From there, ETH dropped back into the $580 support where it rebounded last week. Yesterday, ETH managed to break the $675 resistance to reach as high as $688 by the time the candle closed.
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As we move through the final month of the year, several cryptocurrency projects are moving ahead with continued development. Nevertheless, this week’s selection is topped by Bitcoin, which ended Week 51 with an amazing ATH price of above $24,000.
BTC/USD opened the trading session of 17th December at 21,376. Having breached the historical resistance at around 19,800, the pair could rise higher freely, without being restrained by any price barriers whatsoever. Therefore, right from the day’s start the pair began trending up, going in a steadily rising pattern.
With just a bit more than two full weeks left until the end of 2020, many people, including some cryptocurrency investors, are already looking forward and hoping for a better and less uncertain 2021. Nevertheless, 2020 has not ended yet and a lot can happen on the cryptocurrency markets in these remaining two weeks. While Bitcoin probably won’t double its value this December as it did in 2017, we have prepared a selection of 3 coins that are more likely to post positive returns this week.
As we slowly move towards the end of the turbulent 2020, the expansion of the total cryptocurrency market capitalization seems to be slowly losing steam. Nevertheless, there are several cryptocurrency projects that are issuing updates to their mainnets, rolling out new features or taking part in other important events.
Bitcoin’s price might have dropped by a small 2% today, but the cryptocurrency still remains strong after a 23% price increase over the past month. The coin had bounced at $16,400 toward the end of November as it continued to push back into the ATH price of $19,893 at the start of December.