Bitcoin and Ethereum Correct Gains, SOL Breaks USD 200
- Bitcoin price is hovering above the USD 63,000 level.
- Ethereum retreated below USD 4,200, XRP failed to clear USD 1.15.
- SOL remains elevated and it broke the USD 200 level.
Bitcoin price is currently (04:25 UTC) trading well below USD 64,000 and there could be more downsides in the short-term.
Besides, most major altcoins are also trimming gains. ETH traded below the USD 4,320 and USD 4,250 support levels. XRP is still struggling to clear the USD 1.15 resistance zone. ADA tested USD 2.30 before correcting lower.
Total market capitalization
After setting a new all-time high earlier this week, bitcoin price started a downside correction below USD 66,000. BTC traded below the USD 65,000 and USD 64,200 support levels. It tested USD 62,000 and it is now consolidating losses. On the downside, an initial support is near USD 62,500. The first major support is near USD 62,000, below which the price could test the USD 60,500 support.
If there is a fresh increase, the price might face resistance near USD 64,200. The next major resistance is near USD 65,000, above which the bulls may possibly aim for a new all-time high.
Ethereum price was able to clear the USD 4,200 level. ETH even surpassed USD 4,350, but it failed to test the USD 4,400 resistance. A high was formed near USD 4,375 before it started a downside correction. The price is now trading below USD 4,200, but it could find bids near USD 4,050 and USD 4,000.
On the upside, the price is facing resistance near the USD 4,200 level. The first key resistance is near USD 4,250, above which the price might rise towards USD 4,350.
ADA, LTC, DOGE, and XRP price
Cardano (ADA) broke the USD 2.18 and USD 2.20 resistance levels. It topped below USD 2.32 before correcting lower. It is now trading below USD 2.20, with a key support at USD 2.15. Any more losses may possibly lead the price towards USD 2.05.
Litecoin (LTC) corrected lower from the USD 212. It is consolidating near the USD 200 level, with a major support at USD 192. Any more losses could open the doors for a larger decline in the near term. If there is a fresh increase, the bulls might aim for a break above USD 212.
Dogecoin (DOGE) is back below the USD 0.250 level. An initial support is near USD 0.240. The first major support is USD 0.232, below which the price might decline towards the USD 0.220 level. If there is a fresh increase above USD 0.250, the price might rise towards USD 0.265.
XRP price failed to gain strength above USD 1.15 and started a downside correction. It is now trading near USD 1.10, with an immediate support at USD 1.08. The next major support is near USD 1.05, below which the price might test USD 1.00.
Other altcoins market today
Many altcoins are up over 5%, including RUNE, GRT, SOL, ZEC, VET, NEAR, NEXO, LINK, EGLD, AVAX, XMR, and HT. Out of these, RUNE gained 35% and surpassed the USD 10 level.
Overall, bitcoin price is correcting gains below USD 64,000. It seems like BTC might even decline below USD 62,000, but the USD 60,000 zone could act as a strong support.