· 2 min read

Bitcoin and Ethereum Consolidate, ADA Rallies

  • Bitcoin price is consolidating gains above the USD 67,000 support.
  • Ethereum trades above USD 4,700, XRP is facing resistance near USD 1.265.
  • ADA rallied 13% and it broke the USD 2.30 resistance.

Bitcoin price extended its increase above the USD 68,000. BTC traded to a new all-time high near USD 68,500 before it started a downside correction. It is currently (11:50 UTC) consolidating and it might aim for a fresh increase above USD 68,000.

Meanwhile, major altcoins are showing mixed results. ETH is holding gains near USD 4,800 and it might rise further in the near term. XRP is stuck below USD 1.280 and it might struggle in the short term. ADA surged above the USD 2.30 resistance, increasing its weekly gains to almost 18%.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a steady move above USD 68,000, bitcoin price corrected lower. BTC declined below the USD 68,000 support level. However, downsides were limited and the price is consolidating near USD 67,600. An immediate support is near the USD 67,200 level. The next key support is near the USD 67,000 level. If there is a downside break below USD 67,000, the price might slide towards USD 65,000.

An immediate hurdle on the upside is near the USD 68,200 level. The next key resistance is forming near the USD 68,500 level, above which the price could test USD 70,000.

Ethereum price

Ethereum price is following a bullish path above the USD 4,750 level. ETH could aim for an upside break above the USD 4,850 and USD 4,900 resistance levels. A clear break above the USD 4,900 level could lift the price towards the USD 5,000 level. The next major resistance is near the USD 5,200 level. 

If there is a downside correction, the price might find support near USD 4,720. The next major support is now forming near the USD 4,650 level.

ADA, BNB, SHIB, SOL, and XRP price

Cardano (ADA) started a fresh rally above the USD 2.05 resistance. There was a clear break above USD 2.12 and USD 2.20. It seems like the price might continue to rise towards the USD 2.50 level.

Binance coin (BNB) is struggling to settle above the USD 550 level. To start a fresh increase, BNB must gain strength above USD 550 and USD 555. The next stop could be USD 580. If not, the price might slide towards the USD 525 support.

SHIB is facing resistance near the USD 0.0000580 zone. A clear break above the USD 0.0000580 level may perhaps pump the price towards USD 0.0000600 level. Conversely, there might be a downside correction towards the USD 0.0000535.

Solana (SOL) is consolidating below the USD 250 resistance. A convincing close above USD 250 could start a fresh rally. In this case, the price might rise towards USD 280. On the downside, the bulls may possibly remain active near the USD 232 level.

XRP price is stuck near the USD 1.250 level. An immediate resistance is near the USD 1.265 level. The next major hurdle is near USD 1.280, above which the price might rise to test USD 1.30.

Other altcoins market today

Many altcoins are up over 10%, including LPT, LRC, BAT, LTC, HNT, GRT, DASH, ZEC, VET, ETC, EOS, and CRV. Out of these, LPT gained over 90% and it broke the USD 75 level, before correcting lower again.

To sum up, bitcoin price is consolidating above USD 67,000. A proper close above USD 68,000 could lift BTC towards the USD 70,000 level in the near term.