05 May 2022 · 2 min read

Bitcoin and Ethereum Consolidate,  WAVES and ZIL Outperform

 

  • Bitcoin price is struggling to clear USD 40,000.
  • Ethereum is facing resistance above USD 2,950, XRP failed to stay above USD 0.65.
  • WAVES and ZIL are the two best performers today.

Bitcoin price climbed above the USD 39,500 resistance level and tested the USD 40,000 resistance, where it faced sellers. It is currently (11:49 UTC) consolidating gains near USD 39,500 and is up 1% in a day and a week.

Similarly, most major altcoins are consolidating gains. ETH struggled above USD 2,950 and USD 2,960. XRP is moving lower below USD 0.65 while ADA is correcting gains from the USD 0.90 resistance.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a decent increase, bitcoin price struggled to clear the USD 40,000 resistance zone. BTC started a downside correction and is testing the USD 39,500 level. The next major support is near USD 39,200, below which the price might test USD 38,800. Any more losses might send the price towards the USD 38,000 level.

On the upside, an initial resistance is near the USD 39,850 level. The first major resistance is near the USD 40,000 level, above which the price may perhaps clear the USD 40,350 resistance zone.

Ethereum price

Ethereum price struggled to gain strength above the USD 2,950 and USD 2,960 resistance levels. ETH is moving lower and might decline below USD 2,920. It’s still up almost 2% in a day and over 1% in a week. The next major support is near the USD 2,900 level, below which the price might retest the USD 2,850 support.

If there is a fresh increase, the bulls might aim for a clear move above USD 2,950. If they succeed, the price could rise towards the main USD 3,000 resistance. The next key resistance is near the USD 3,050 level.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) spiked and tested the USD 0.90 resistance. It failed to clear this level and is currently correcting gains. It is trading near USD 0.865 and might test the USD 0.85 support.

BNB climbed above the USD 400 resistance. It even surpassed the USD 405 level and seems like there are chances of a move to USD 412. The next major resistance is near the USD 420 level.

Solana (SOL) rallied above the USD 92 resistance and tested the USD 95 resistance. It is now correcting lower and trading near USD 92. If there are additional losses, the price could test the USD 88 level.

DOGE is struggling to stay above the USD 0.135 level. It seems like the price might move down towards the USD 0.132 support. The next major support is near the USD 0.130 level.

XRP price spiked above key USD 0.65 resistance, but there was no upside continuation. The price is now trading below USD 0.64 and there is a risk of a move towards the USD 0.62 support. The next major support is near USD 0.605.

Other altcoins market today

Many altcoins are up over 5%, including AVAX, TRX, ATOM, LINK, UNI, ETC, VET, EGLD, THETA, RUNE, AAVE, AXS, WAVES, and ZIL. Out of these, ZIL surged 27% and cleared the USD 0.090 level, becoming the best performer among the top 100 cryptoassets by market capitalization today. WAVES is the second best as it jumped 17% and neared USD 16. Both WAVES and ZIL are still down 1%-3% in a week.

To sum up, bitcoin price failed to surpass the USD 40,000 resistance. BTC might make another attempt to surpass USD 40,000. If the bulls succeed, the price could gain momentum.

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