Bitcoin and Ethereum Consolidate, TRX Accelerates
- Bitcoin price is attempting an upside break above USD 66,500.
- Ethereum is facing resistance near USD 4,800, XRP is moving towards USD 1.215.
- TRX and CRO are up over 12%.
Bitcoin price gained pace above the USD 65,000 resistance level. BTC even spiked above the USD 66,000 level, but it struggled near USD 66,400. It is currently (11:57 UTC) consolidating and it seems like the bulls might aim for a fresh increase in the near term.
Besides, most major altcoins are rising. ETH traded above USD 4,700 and it might clear the USD 4,750 resistance. XRP could attempt an upside break above the USD 1.215 resistance. Besides, ADA seems to be aiming for a retest of USD 2.20.
Total market capitalization
After a close above USD 65,000, bitcoin price started a fresh increase. BTC cleared the USD 65,500 and USD 66,000 resistance levels. However, the bulls are facing an uphill task near the USD 66,400 and USD 66,500 levels. A close above the USD 66,500 level may possibly start a steady increase. The next major resistance is near the USD 67,500 level, above which the price could test USD 68,000.
On the downside, an initial support is near the USD 65,500 level. The main support is now forming near the USD 65,000 level, below which the price might start a fresh decline.
Ethereum price is rising and trading above USD 4,700. A short-term hurdle is near the USD 4,750 level. The main hurdle is near USD 4,800. A clear break above USD 4,800 could spark a stronger increase in the coming sessions.
On the downside, an initial support is near USD 4,680. The next key support is near USD 4,650 below which the price might dive towards USD 4,550.
ADA, BNB, SOL, SHIB, and XRP price
Cardano (ADA) is rising, trading above the USD 2.05 level and it might test the USD 2.12 resistance level. A close above USD 2.12 may perhaps clear the path for a move towards the USD 2.20 level. On the downside, the USD 2.00 level is a key breakdown support.
Binance coin (BNB) is stuck near the USD 650 resistance level. The next key resistance is near the USD 660 level. A follow up move above the USD 660 level could lift the price towards the USD 675 level. The next key resistance is near the USD 690 level.
Solana (SOL) is facing resistance near the USD 245 and USD 250 levels. A successful close above USD 250 could start a steady increase. In this case, the price might rise towards the USD 265 level.
SHIB is still stuck near the USD 0.0000525 level. An initial resistance is near the USD 0.0000535 level, above which the price might rise towards the USD 0.000055 level. If not, the price might move down towards the USD 0.000050 level.
XRP price spiked above the USD 1.215 level, but it faced sellers near USD 1.22. The price is now consolidating, but there could be another wave towards the USD 1.22 level in the near term.
Other altcoins market today
Many altcoins are up over 5%, including WAXP, CRO, ANKR, UMA, KCS, TRX, TEL, LTC, VET, ICX, HT, LEO, MINA, and ATOM. Out of these, TRX gained 12% and surpassed USD 0.127.
To sum up, bitcoin price is trading in the green zone above the USD 65,000 level. If BTC stays above USD 65,000, it could rise further above USD 66,500 and USD 67,000.