Bitcoin and Ethereum Hold Key Support Levels, TRX Accelerates
- Bitcoin price is consolidating above USD 28,500.
- Ethereum is still above USD 1,920, XRP is nearing USD 0.40.
- TRX jumped over 5%.
Bitcoin price started another decline from the USD 30,500 resistance zone and dropped below the USD 29,500 support level. However, it is currently (11:45 UTC) consolidating near USD 29,300 and still holds the key USD 28,500 support level. BTC is down almost 4% in a day and 2% in a week.
Similarly, most major altcoins are consolidating above key support levels. ETH must stay above USD 1,920 to increase the chances of a fresh increase. XRP might decline below USD 0.40. ADA is consolidating above the USD 0.50 support.
Total market capitalization
After another rejection near USD 30,500, bitcoin price started a downside correction. BTC declined below the USD 30,000 and USD 29,500 support levels. However, the bulls are protecting more downsides, with an immediate support near the USD 28,800 level. The next major support is near the USD 28,500 level, below which the price could gain bearish momentum.
On the upside, the first major resistance is near USD 30,000. The main resistance is still near the USD 30,500 level, above which the price could rise steadily.
Ethereum price also started a fresh decline below the USD 2,000 support. ETH is now trading above the USD 1,950 support and is down 5% in a day and almost 3% in a week. The main support is still near USD 1,920, below which the price might gain bearish momentum and extend losses. The next major support could be near the USD 1,800 level.
On the upside, an immediate resistance is near the USD 2,020 level. The main breakout zone is now forming near the USD 2,080 and USD 2,120 levels.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) declined below the USD 0.52 support zone. However, the bulls are now protecting the key USD 0.50 support zone. If there is a downside break below USD 0.50, the price might decline towards USD 0.465.
BNB is moving lower below the USD 325 level. The first key support is near the USD 312 level. If there is a clear move below the USD 312 level, the bears might test the USD 300 level.
Solana (SOL) is gaining bearish momentum below the USD 52 level. It is down almost 9% and there was a move below the USD 50 level. It seems like the price might continue to move down towards USD 45.
DOGE is moving lower towards the USD 0.082 support level. If there are more losses, the price may perhaps decline towards the USD 0.080 support. On the upside, the USD 0.0865 level is an initial barrier.
XRP price is still consolidating above the USD 0.40 level. A clear break below the USD 0.40 support zone could increase selling pressure. In this case, the price could decline towards USD 0.365.
Other altcoins market today
Many altcoins are in the red zone, including DOGE, DOT, AVAX, SHIB, MATIC, LTC, CRO, NEAR, BCH, LINK, XLM, and ATOM. Meanwhile, TRX jumped over 5% and surpassed USD 0.08, increasing its weekly gains to 17%.
Overall, bitcoin price is consolidating above the key USD 28,500 support. If BTC extends losses, it could dive to USD 27,200. Conversely, it might start a fresh increase toward USD 30,500.