Bitcoin, Ethereum, and Altcoins Correct Gains


 

  • Bitcoin price moved below USD 20,000 again.
  • Ethereum is holding the USD 1,100 support, XRP is stuck below USD 0.335.
  • All top performers trimmed their gains today.

Bitcoin price struggled to clear the USD 20,500 resistance zone and moved below USD 20,000 again. It is currently (11:50 UTC) trading near USD 19,700 and is almost unchanged in a day and down 5% in a week. 

Similarly, most major altcoins are also correcting gains. ETH tested USD 1,175 but now might revisit USD 1,100. XRP is consolidating near USD 0.32. ADA is stable near the USD 0.45 level.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a close above USD 20,000, bitcoin price tested the USD 20,500 resistance zone. BTC failed to extend gains and corrected lower below the USD 19,800 level. On the downside, an initial support is near the USD 19,500 level. The next major support is near the USD 19,200 zone, below which the price could accelerate lower.

If there is a fresh increase, the price could clear the USD 20,000 resistance. The next major resistance is now near USD 20,500, above which BTC could gain bullish momentum.

Ethereum price

Ethereum price spiked above the USD 1,150 level but failed to clear the USD 1,170 and USD 1,180 resistance levels. It is now correcting gains near USD 1,120 but is still up almost 4% in a day and down 6% in a week. The next major support is near USD 1,100, below which the price could test the USD 1,060 support zone.

On the upside, the price is facing resistance near the USD 1,150 level. The next major resistance is near USD 1,180, above which the price could start a stronger increase in the near term. 

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) is still consolidating near the USD 0.45 level. If there is a downside break, the price could test the USD 0.42 support. Conversely, it might attempt an upside break towards USD 0.50 or even USD 0.52.

BNB tested the USD 235 resistance zone and failed to continue higher. There was a downside correction and the price traded below USD 230. The next major support is near the USD 220 level.

Solana (SOL) failed to stay above the USD 35 resistance zone. It is moving lower and trading near the USD 34.50 level. If there are more losses, the price could dive towards the USD 32 support zone.

DOGE spiked above the USD 0.068 resistance zone but there was no upside continuation. The bears appeared near USD 0.070 and the price is now correcting gains. On the downside, there is a major support near the USD 0.065 level.

XRP price is still consolidating near the USD 0.320 zone. An immediate resistance is near USD 0.335. The main resistance on the upside is still near the USD 0.35 zone.

Other altcoins market today

Despite trimming their gains, a few altcoins are up over 3%, including MATIC, UNI, ATOM, SAND, BAT, LRC, GMT, and ENJ. GMT is up 7% and is trading near USD 0.89. CEL, the previous best performer among the top 100 coins, dropped to USD 0.92, erasing almost all its daily gains.

To sum up, bitcoin price is correcting gains below USD 20,000. BTC must stay above the USD 19,500 to avoid a downside break in the near term.

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