After a brief bullish move last week, on Monday, December 3, the crypto-currency market fell again. The volume of trades fluctuated very little, in contrast, the market capitalization curve showed strong declines and fell more than US $ 134 billion to US $ 126 billion.
Bitcoin
The big boss of the crypto-currency market also traded down on Monday. The price of Bitcoin was traded below the support set at $ 4,120. The downward movement continued to approach $ 3,800 as the price began to react. At the time of writing, Bitcoin against the US dollar traded for US $ 3,907.
Although the daily chart of Bitcoin shows a slight recovery with the formation of tops and rising bottoms, the movement does not have the strength to continue for a long time and the general trend continues to fall for a few more days. With the disruption of support, a new resistance was formed near the value of US $ 4,120, which is the first obstacle that the currency must face before rising sharply again.
Currently, the strength of the "bears" dominates the market, which remains in decline as can be observed mainly by the moving average line pointing downwards. For the next few hours bitcoin should operate in the range of $ 3,800 (support) and $ 4,120 (resistance).
Ripple
Following the market trend, as well as the vast majority of crypto-coins, Ripple, the second largest digital currency in terms of market capitalization, also operated in decline. In the last 24 hours the fall was about 5.12%. In addition, the moving average line indicates a downward trend since it has a negative slope at the end of the line.
With bitcoin serving as a parameter for the crypto-coins market, the trend for the next few days is for Ripple to float in a manner similar to the BTC fluctuation. In this sense, the range of oscillation of the asset is a little less clear, since it depends on variables linked to other currencies. But if we consider the data from the last few hours, we can suggest the interval between US $ 0.346 for minimum and US $ 0.354 for high.
Cryptomaned Market
Looking at the trends of the main crypto-coins, with Bitcoin being the most influential, it is believed that in the coming days the crypto-coins market should contemplate even more falls before rising again.
As can be seen in the graph below, which shows the market oscillation in the last month, it is possible to see a decrease in the trading volume, indicating a weakening trend in the event of a fall. However, there is still no evidence of reversal of it, so the market should remain in decline for some more time before it starts to rise.