Bitcoin and Ethereum Hold Support, ETC Accelerates Again
- Bitcoin price is holding the USD 22,500 support.
- Ethereum recovered above USD 1,600, XRP moved below USD 0.372.
- ETC started a fresh rally and climbed over 10%.
Bitcoin price traded close to the key USD 22,500 support zone before moving higher again. BTC is currently (04:12 UTC) consolidating near USD 22,900 and is unchanged in a day and up almost 8% in a week.
Similarly, most major altcoins are holding key support levels. ETH stayed above USD 1,550 and recovered higher. XRP failed to stay above the USD 0.37 level. ADA is back above the USD 0.50 pivot zone.
Total market capitalization
After a close below the USD 23,500 level, bitcoin price extended its decline, but the bulls are now protecting the key USD 22,500 support zone. If there is a downside break and close below USD 22,500, the price may perhaps accelerate lower. The next major support is near the USD 22,000 zone, below which the price could test USD 21,200.
On the upside, an immediate resistance is near the USD 23,200 level. The next major resistance could be USD 23,500, above which the price could start a steady upward move.
Ethereum price spiked lower and tested the USD 1,550 support zone before recovering. It was able to clear the USD 1,600 level and test the USD 1,620 resistance. ETH is now up over 2% in a day and 13% in a week. On the upside, the price might face resistance near USD 1,650. The next key resistance is near the USD 1,680 level, above which the price might gain bullish momentum.
On the downside, an initial support is near the USD 1,580 level. The next major support is near the USD 1,550 zone, below which the price could take a hit.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) found support near the USD 0.488 level and recovered losses. The price is back above the USD 0.50 level, but it is facing a major resistance near USD 0.520.
BNB remained above the USD 272 support zone. The price is now trading above USD 282, with an immediate resistance at USD 288. The main resistance is still near the USD 300 level.
Solana (SOL) settled below the USD 40 support. It even spiked below the USD 38 level before recovering and increasing its chances of revisiting USD 40.
DOGE extended decline and tested the USD 0.0650 support zone. If the bears remain in action, the price might test the USD 0.0620 level. Any more losses might call for a test of USD 0.0600.
XRP price declined and settled below the USD 0.372 level. The next major support is near USD 0.355 and USD 0.350, below which there is a risk of a sharper decline.
Other altcoins market today
Several altcoins are rising steadily, including MATIC, AVAX, UNI, ETC, CRO, NEAR, APE, VET, RUNE, and LDO. Out of these, ETC rallied over 10% and surpassed the USD 36 level. The price is also up 46% in a week.
Overall, bitcoin price is still above the USD 22,500 support zone. If BTC slides further, there is a risk of a sharper move towards USD 21,200 in the near term.