Bitcoin and Ethereum Correct Gains, Altcoins Remain Attractive
Bitcoin price struggled to clear the main USD 35,000 resistance zone. Ethereum struggled near USD 2,050 and corrected lower, XRP is holding gains above USD 0.600. KLAY surged 22%, and ANKR gained 29%.
Bitcoin price recovered above the USD 33,500 and USD 34,000 resistance levels. BTC even spiked above USD 34,500, but it failed to clear the USD 35,000 resistance. It is currently (04:45 UTC) correcting gains and it is trading above USD 32,500.
Besides, most major altcoins might remain in a positive zone. ETH failed to stay above USD 2,000, but it is still holding USD 1,850. XRP/USD is trading above USD 0.600, but it is facing hurdles near USD 0.650.
Total market capitalization
There was a decent increase in bitcoin price above the USD 33,500 resistance zone. BTC even climbed above USD 34,000, but there was no test of USD 35,000. The price started a downward correction below USD 34,000. It even traded below USD 33,500 and it is seemingly moving towards the USD 32,200 and USD 32,000 support levels. Any more losses might call for a test of USD 30,500.
On the upside, an initial resistance is near the USD 33,500 level. The first major resistance is now near USD 34,000, followed by the key USD 35,000 barrier.
Ethereum price also followed a similar pattern and it failed to clear the USD 2,050 resistance level. ETH started a downside correction below the USD 2,000 and USD 1,950 levels. It is now consolidating near USD 1,900, with a decent support near the USD 1,850 level.
An immediate resistance on the upside is near the USD 1,960 level. The first key resistance is now forming near the USD 2,000 level.
BNB, LTC, DOGE, and XRP price
Binance Coin (BNB) remained well bid above the USD 280 level. BNB even spiked above the USD 300 barrier. However, it failed to stay above USD 300, but it is holding gains above the USD 280 level. If there is a downside break below USD 280, there is a risk of a move towards the USD 265 level.
Litecoin (LTC) is struggling to gain pace above the USD 132 and USD 135 levels. LTC is consolidating near USD 128, with a decent support near USD 125. The main breakdown support is now forming near the USD 120 level.
Dogecoin (DOGE) settled above the USD 0.200 level and it even cleared USD 0.220. It is now holding gains and it might rise to test the USD 0.250 level. If there is a fresh decline, the bulls might protect the USD 0.200 level.
XRP price is trading in a positive zone above the USD 0.600 level. The price even stayed above USD 0.620, and it seems like the bulls are eyeing a clear break above USD 0.650. The next major resistance on the upside is near the USD 0.680 level.
Other altcoins market today
Many altcoins gained over 5%, including KLAY, ANKR, QNT, TRX, BTG, BAKE, BTT, GRT, ZEN, ADA, and ETC. Out of these, KLAY rallied 22% and it cleared the USD 1.00 level.
Overall, bitcoin price is correcting gains below the USD 33,500 pivot level. If BTC fails to stay above USD 32,000, there is a risk of a fresh bearish wave in the near term.