Bitcoin and Ether are in free fall, but SOL has reached critical support.

Mr. Plan ₿
3 min readDec 29, 2021
Source photo Unsplash

Bitcoin is falling below the $48,820 support, ether is falling below the $3,800 support, and SOL is approaching a critical level under $168.

Bitcoin

Bitcoin’s price has begun a new drop after hovering near $52,000. Below the $48,822 support level and the 21 simple moving average, BTC has developed negative momentum (H1).

The price has even dropped below $48,000. The bulls are currently seeking to defend the $47,000 support zone. Bitcoin is regaining ground and encountering resistance at $47,500. On the hourly chart, there is also a big negative trend line with resistance near $47,500.

A decisive break over $47,500 might kick-start a nice rise. If not, the price may continue to fall below $47,000 in the short term.

Ethereum (ETH)

Ethereum has also begun a significant drop from far above the $4,000 level. The price fell sharply below the $3,885 support level. The price even fell below the $3,800 mark and the 21-day simple moving average (H1).

It is now consolidating losses and trading towards the $3,700 mark. On the plus side, a significant barrier is emerging at the $3,800 level. On the hourly chart, a significant bearish trend line is formed with resistance at $3,800. The next significant hurdle is $3,885, over which the price may re-enter the main $4,000 resistance zone.

Solana (SOL)

SOL attempted to break through the $200 resistance level. However, the bulls failed, and the price began to fall again. On the 4-hours chart, there was a break below a significant bullish trend line with support at $190.

A closing below the $185 level occurred, as did a close below the 21 simple moving average (H4). The bears pushed the stock below the 50% Fib retracement line of the uptrend from the $149 swing low to the $207 high.

The price is presently approaching the $170 support level. The 61.8 percent Fib retracement level of the upward run from the $149 swing low to the $207 high is also close to $170. A breach below $170 might send SOL towards the $155 support zone.

ADA, BNB, and DOT price

Cardano (ADA) began a significant drop below the $1.40 support level. The price has dropped 10% and is now trading below the $1.38 mark. If the price falls below $1.35, it might go as low as $1.30.

Binance Coin (BNB) is fighting to maintain its price over $530. The $525 level provides instant help. A decisive move below the $525 mark might bring the price down below $500.

Polkadot (DOT) failed to maintain a price above $30.00. The price is falling and is now trading towards the $28.00 mark. If the price breaks below $28.00 on the downside, it may continue to fall. The next significant support level is at $26.50.

LPT, ROSE, and LEO are a few popular coins. LPT is up 5% among them, with a clear break over the USD 42 mark.

Mr. Plan ₿

Passionate about personal development and crypto/stocks investments, I share valuable insights for your success. Collaborations vremaroiua.medium@gmail.com

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