Bitcoin and Ethereum Consolidate Gains, ADA and SOL Accelerate

 

• Bitcoin price might struggle to stay above USD 30,000.
• Ethereum failed to clear USD 2,200, XRP is facing resistance near USD 0.45.
• ADA and SOL are up over 11%.

Bitcoin price started a recovery wave above the USD 30,000 resistance zone and climbed above the USD 31,000 level before correcting lower again. It is currently (04:06 UTC) consolidating gains near USD 30,400 and remains at a risk of a downside break below USD 30,000. BTC is up 2% in a day and down 11% in a week.

Similarly, most major altcoins are trading in a positive zone. ETH climbed above USD 2,100 but struggled near USD 2,200. XRP is facing a major resistance near the USD 0.45 zone. ADA jumped over 11% and tested the USD 0.615 zone.

Total market capitalization

Bitcoin price

After a close above USD 30,000, bitcoin price started a recovery wave and climbed above the USD 31,000 level, but the price is facing resistance near the USD 31,500 zone. The next key resistance is now forming near the USD 32,000 level. A close above the USD 32,000 zone could set the pace for a larger increase.

If there is another decline, the price might find support near USD 30,000. The next major support is near the USD 29,500 level, below which the price could start a fresh decline.

Ethereum price

Ethereum price also started a decent upside correction above the USD 2,000 level. ETH was able to settle above the USD 2,100 level and traded close to USD 2,200 before moving back below USD 2,100 again. It is now moving lower and might test the USD 2,000 support zone. ETH is up 3% in a day and down 17% in a week.

If there is a downside break and a close below USD 2,000, there is a risk of more losses. The next major support is near the USD 1,920 level, below which the price might gain bearish momentum.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) started a strong increase above the USD 0.550 level. The price even moved above the USD 0.600 level. However, ADA faced sellers near USD 0.615 and is moving lower. After jumping 11% in a day, ADA trimmed its weekly losses to less than 22%.

BNB settled above the USD 300 level. The price is now struggling to gain pace for a clear move above the USD 310 level. If there is a fresh bearish reaction, BNB might test the USD 288 support.

Solana (SOL) jumped above the USD 52 and USD 55 resistance levels. The price tested the USD 60 level and is currently correcting lower. The main support seems to be forming near the USD 52 level. SOL jumped 11% in a day, trimming its weekly losses to 25%.

DOGE recovered above the USD 0.085 resistance zone. An immediate resistance is near the USD 0.092 level. The main resistance zone is still near the USD 0.10 level.

XRP price was able to move above the USD 0.425 resistance. The main weekly breakout zone is now forming near the USD 0.45 level, above which it could start a steady increase.

Other altcoins market today

Many altcoins are in the green zone, including DOT, AVAX, SHIB, MATIC, AR, CRO, NEAR, UNI, LINK, ATOM, ALGO, XMR, ETC, and VET. Out of these, AR rallied 18% and tested the USD 18 level, becoming the best performer among the top 100 cryptoassets by market capitalization today.

Overall, bitcoin price is consolidating above the USD 30,000 level. If BTC slides below USD 30,000, there is a risk of a move towards the USD 28,000 level.

_____ 

Find the best price to buy/sell cryptocurrency: