Bitcoin and Ethereum Consolidate Gains, DOGE's Rally on Pause
- Bitcoin price is consolidating gains above USD 40,000.
- Ethereum is stuck near USD 3,000, XRP is still below USD 0.70.
- DOGE fluctuates around USD 0.16.
Bitcoin price started a steady increase and climbed above USD 40,000. BTC is currently (11:47 UTC) consolidating gains near USD 40,500 and is up 4% in a day and down less than 1% in a week. A clear move above USD 40,700 might set the pace for a fresh increase.
Similarly, most major altcoins are consolidating gains. ETH is trading in a range near the USD 3,000 level and is up more than 5% in a day and down 2% in a week. XRP could start a steady increase if it settles above USD 0.70. ADA is eyeing an upside break above the USD 0.90 resistance zone.
Total market capitalization
After a clear move above USD 40,000, bitcoin price extended increase. BTC even climbed above USD 40,500, but faced sellers near USD 40,750. It is now consolidating gains, with a key hurdle near USD 40,700. The next major resistance on the upside might be USD 41,200, above which the price may perhaps start a fresh increase.
If there is a bearish reaction, the price might trade below the USD 40,000 level. The next major support is near USD 39,500, where the bulls might take a stand.
Ethereum price also gained pace above the USD 2,950 resistance. ETH even climbed above the USD 3,000 pivot level and is currently consolidating gains. An immediate resistance is near USD 3,020, followed by USD 3,030. The next major resistance is near the USD 3,080 level.
If there is a downside correction, the price might find support near the USD 2,975 level. The next major support is near the USD 2,950 level, below which the price could test USD 2,880.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) is up almost 4.5% and is trading near the USD 0.88 resistance. The main barrier is near the USD 0.90 level. A close above USD 0.90 could set the pace for a larger increase.
BNB is consolidating gains near the USD 400 level. An immediate resistance is near the USD 405 level. The first major resistance is near the USD 412 level, above which the price could test USD 420.
Solana (SOL) is showing positive signs near the USD 100 level. The first key resistance is USD 105, above which the price might test USD 110. If not, it could correct lower towards USD 92.
DOGE extended its surge above the USD 0.155 resistance, becoming the best performing coin among the top 100 cryptoassets by market capitalization today. It gained 16% in a day and settled near the USD 0.160 level after reaching almost USD 0.168 on Monday. Any more gains may perhaps send the price towards the USD 0.170 level again.
XRP price is struggling to rise towards the USD 0.70 resistance. To start a steady increase, the price must settle above USD 0.70. On the downside, the USD 0.65 level is a decent support.
Other altcoins market today
Many altcoins are up over 5%, including LUNA, AVAX, SHIB, GRT, NEAR, ATOM, LINK, BCH, UNI, APE, ALGO, XLM, XMR, ICP, and VET. Out of these, GRT gained 15% and climbed above USD 0.39.
To sum up, bitcoin price seems to be trading in a range above the USD 40,000 pivot level. If BTC gains pace for a move above USD 40,700 and USD 41,200, it could rise towards USD 42,500 or even USD 43,200.