- Bitcoin price is struggling to establish above $21,200.
- Ethereum fails to hold above $1,100, XRP consolidates at $0.32.
- Waves performs best, CEL worst.
Bitcoin price managed to scale above the $21,200 resistance area but failed to stay in the positive zone and fell below $21,000. It is currently trading above $20,300 and there is downside risk. BTC is down more than 1% in a day and almost 9% in a week.
Most other major altcoins also failed to stay in positive territory. ETH is struggling above $1,150 and has fallen below $1,100. XRP continues to consolidate near $0.320. ADA made gains and traded below USD 0.480.
total market capitalization
After a steady climb, bitcoin price was able to move above the $21,200 resistance level. BTC even broke $21,500 but there was no continuation of the uptrend. The bears struggled and pushed the price below $21,200. On the upside, there is initial support at $20,000. The next major support is near the USD 19,500 area, below which the price might start a sharp decline.
On the upside, the $21,000 area acts as an initial hurdle. The key hurdles are now near the $21,200 and $21,500 levels, above which the price is likely to surge in the near term.
Price of Ethereum
Ethereum price also attempted an upside break above the $1,150 resistance area. ETH surged to the $1,200 level where the bears emerged. The price made gains and traded below USD 1,100. On the upside, immediate support lies at $1,050. The next major support is near the $1,000 level, which the price could revisit below. ETH is down about 4% in a day and 10% in a week.
On the upside, the price is facing resistance near $1,150. The next major resistance is near the USD 1,200 level, above which the price might start a strong increase.
ADA, BNB, SOL, Doge and XRP price
Cardano (ADA) jumped above the $0.50 resistance area. However, it failed to stay above the USD 0.50 level and it fell below the USD 0.48 level. The price is now consolidating above the $0.45 support level.
Binance Coin (BNB) tried to close the USD 230 resistance level but failed. The price is now trading below the $220 level which forms a key support at $212.
Solana (SOL) gained momentum above the USD 35 resistance level. It also crossed the $38 mark and tested the $40 area. The price is now consolidating gains near $35 and it might continue lower.
DOGE surged above the $0.0620 resistance level. The price also surged above $0.065 before turning bearish at $0.070. The price corrected gains and tested the USD 0.062 support.
XRP price is still consolidating in the USD 0.32 area. To start a new increase, the price needs to clear the USD 0.335 and USD 0.350 resistance levels in the short term.
Other altcoins in the market today
Some altcoins including SNX, UNI, LEO, XCN, ZIL, and SHIB are up over 5%. WAVES is the best performer among the top 100 cryptocurrencies as it is up 46% today, breaking through $7 and extending its weekly gains by 43%. Meanwhile, after a strong rally this week, CEL is down 16% in one day, falling below $1 and trimming its weekly gains by 42%.
Overall, bitcoin price is struggling to stay above the $21,200 level. BTC needs to stay above the USD 20,000 support area to weather a new wave.
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