Bitcoin and Ethereum Bulls Put Up Fight, Altcoins Move Higher
- Bitcoin price is consolidating above the USD 20,000 support.
- Ethereum is facing resistance near USD 1,150, XRP fluctuates above USD 0.31.
- EGLD and TFUEL are the best performers today.
Bitcoin price gained bearish momentum below the USD 21,200 support, but the BTC bulls protected the key USD 20,000 support zone. The price is currently (11:44 UTC) consolidating near USD 21,200 and is unchanged in a day, but is still down 30% in a week.
Similarly, most major altcoins are holding important support levels. ETH is still above USD 1,000 but is facing many hurdles. XRP moved towards USD 0.335 before correcting again. ADA is testing the USD 0.50 resistance.
Total market capitalization
After a fresh decline, bitcoin price broke the USD 21,200 support. BTC even traded below USD 20,500, but the bulls were active above the USD 20,000 support. The price is now recovering and trading above USD 21,000. On the upside, the first key resistance is near the USD 21,500 level. The next major resistance is near the USD 22,000 level, above which the price might rise to USD 23,000.
On the downside, an initial support is near the USD 20,500 level. The next major support is near the USD 20,000 zone, below which the price could start a major drop.
Ethereum price also extended decline below the USD 1,100 level. However, ETH remained well bid above USD 1,020 and USD 1,040. The price is now attempting a recovery wave above USD 1,100 and is down almost 1% in a day and 39% in a week. On the upside, the price is facing resistance near the USD 1,150 level. The next major resistance is near USD 1,200, above which the price could rise to the USD 1,250 barrier.
If not, it could resume its decline below USD 1,050. The next major support is near USD 1,000, below which the price may perhaps drop to USD 850.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) is back above the USD 0.48 level. It is now consolidating near the USD 0.50 level. A close above the USD 0.50 level might start a steady increase in the near term.
BNB stayed above the USD 212 support level. The price is now rising and moving towards the USD 220 level. The next key resistance is near USD 225, above which the price might test USD 235.
Solana (SOL) is holding gains above the USD 30 level. On the upside, an immediate resistance is near USD 32. The main breakout zone is now forming near the USD 35 and USD 36 levels.
DOGE is rising towards the USD 0.0580 resistance level. The next major hurdle for the bulls might be USD 0.060. A close above USD 0.060 might spark a steady increase.
XRP price is trading well above the USD 0.312 resistance. The price approached the USD 0.335 resistance zone, but failed to move higher. The next major barrier for the bulls might be USD 0.350.
Other altcoins market today
Many altcoins are showing positive signs, including FTT, XMR, HBAR, HNT, TFUEL, EGLD, FTM, BAT, AR, and BORA. Out of these, EGLD and TFUEL are the best performers today among the top 100 coins, as they jumped 9% and 12%, respectively. EGLD moved above USD 54 and trimmed its weekly losses to 13%, while TFUEL surpassed USD 0.048 and is now down less than 23% in a week.
To sum up, bitcoin price is facing an uphill task near USD 21,500 and USD 22,000. As long as BTC is below USD 23,000, it remains at a risk of a move below USD 20,000.