Crypto: Bitcoin, Ethereum, Prices and News
Boring swings over the holidays register a negative balance reflected by a red close in the first week of December.
The third upward swing has failed, putting the brakes on the good intentions expressed in the first two days of last week, between Monday November 5 and Wednesday November 7, when Bitcoin’s price managed to rise above $17,400 after more than 20 days with pulling the rise of Ethereum and the other major altcoins.
There are few positive weekly sales. Among the large caps, Monero (XMR) stands out, gaining more than 6% with prices climbing back above $152 per token for the first time since early November.
Very good performance of the TonCoin (TON) token on the Open Network blockchain linked to the messaging app Telegram. With the latest double-digit weekly jump (+11.7%), the fifth consecutive upward jump, the price is above $2.16 for the first time since last April. With a total capitalization of $2.5 billion, Toncoin enters the Top25 for the first time.
The new week in December gets off to a rocky start. As Monday rolls around, all major cryptocurrencies are trading below parity. Among Blue Chips However, the week is off to a rough start for Dogecoin (DOGE) and Binance (BNB), both losing more than 6%. Among the top 50 caps, the two exceptions are Monero (XMR) and Toncoin (TON), which continue to move against the tide with the plus sign in front.
During the last few hours, volatility is also on its way back to stir. It returned to October levels last week, its lowest in two years, and in the past 48 hours has risen more than 10%, underscoring growing fears of an upcoming price shock.
Bitcoin (BTC) price
During yesterday, Sunday 11 November, the price of BTC lost the $17k level for the first time in 4 days and then recovered the technical and psychological threshold just before the daily and weekly close.
This will be the level to watch for the next few days and understand if the recent weakness is part of a technical retracement, or the uptrend in recent weeks was just a technical setback within a long-term bearish trend.
Ethereum (ETH) price
EthereumThe price trend continues to confirm the technical harmony that ETH has enjoyed for several weeks.
With the low on Wednesday, December 7 in the $1,220 area, after closing the previous weekly cycle and starting the new and current cycle, the price has risen again and is trying for the fifteenth time to break $1,300.
The failed attempt again indicates the presence of bearish to protect a crucial technical area. In fact, breaking $1300 and exceeding $1330 would indicate a clear signal of a reversal of the monthly trend from bearish to bullish.
