Bitcoin and Ethereum Consolidate, Altcoins Eye Upside Break
- Bitcoin price is facing resistance near USD 63,000.
- Ethereum could rally if it clears USD 4,250, XRP still below USD 1.15.
- ONE, NEAR, and SCRT are up over 15%.
Bitcoin price settled above the USD 62,000 level. However, BTC is struggling to gain pace above USD 63,000 and USD 63,200. It is currently (11:55 UTC) trading in a positive zone, but a close above USD 63,000 is important for more upsides.
Besides, most major altcoins are eyeing upside break. ETH could rally if there is a clear break above USD 4,250. XRP could aim for a clear break above the USD 1.15 resistance. ADA might gain momentum if it settles above USD 2.20.
Total market capitalization
After a close above USD 62,000, bitcoin price attempted an upside break above USD 63,000. BTC seems to be facing a major hurdle near USD 63,000 and USDS 63,200. A close above USD 63,200 may possibly open the doors for a steady increase in the near term. The next major resistance is near USD 64,000, above which the price could rise towards USD 65,500.
On the downside, an initial support is near the USD 62,000 level. The first major support is near USD 61,200, below which the price might decline towards USD 60,500.
Ethereum price is stable above the USD 4,150 pivot level. An immediate resistance for ETH is near the USD 4,250 level. The next key resistance is near USD 4,320, above which the price might climb towards the USD 4,500 level.
If there is another drop, the price might find support near USD 4,150. The next key support is USD 4,040. Any more losses could open the doors for a move towards the USD 3,800 level.
ADA, BNB, DOGE, SOL, and XRP price
Cardano (ADA) is attempting a key upside break above USD 2.20. A close above USD 2.20 may perhaps clear the path for a test of USD 2.32. Any more upsides could lead the price towards the USD 2.50 level. If not, the price might revisit the USD 2.10 level in the near term.
Binance coin (BNB) is showing positive signs above the USD 465 pivot level. However, the price is facing a major hurdle near the USD 500 level. A close above USD 500 might lift the price towards USD 525.
Dogecoin (DOGE) is rising again towards the USD 0.280 level. If the bulls remain in action, the price might rise towards the USD 0.300 level. On the downside, the USD 0.250 level is a decent support.
XRP price is rising towards the USD 1.15 level. A clear break above USD 1.15 might pump the price towards the USD 1.20 level. Conversely, there is a risk of a retest of USD 1.00 in the near term.
Solana (SOL) settled above the USD 200 level and it is consolidating gains. If there is a downside correction, the price might test USD 185. On the upside, the USD 215 level is a short-term resistance.
Other altcoins market today
Many altcoins are up over 8%, including SCRT, FTM, ONE, CRV, NEAR, ENJ, TEL, ICP, COMP, THETA, SHIB, and SUSHI. Out of these, SCRT is still up over 40% and trading above the USD 9.00 level.
To sum up, bitcoin price is showing positive signs above the USD 62,000 level. However, BTC must settle above USD 63,200 for a fresh increase towards USD 65,000.