Bitcoin and Ethereum Look for Direction, BNB Accelerates
- Bitcoin price is still above the USD 22,500 support.
- Ethereum is consolidating near USD 1,650, XRP is still below USD 0.388.
- BNB is up over 7%, while smaller altcoins outperform.
Bitcoin price climbed higher and broke the USD 23,200 level, but struggled to clear the USD 23,500 resistance and corrected lower. BTC is currently (03:52 UTC) trading just below USD 23,100 and is up almost 1% in a day and a week.
Similarly, most major altcoins are eyeing more upsides. ETH climbed above USD 1,650 and faces resistance near USD 1,680. XRP struggles to reach USD 0.388, while ADA is consolidating above the USD 0.50 pivot zone.
Total market capitalization
After trading close to USD 22,500, bitcoin price found support. BTC formed a base and started a recovery wave above USD 23,000. There was a break above the USD 23,200 resistance zone. However, the bulls struggled to clear the USD 23,500 resistance zone. It is now consolidating below USD 23,100, with an immediate support at USD 23,000. The next major support is near the USD 22,500 zone, below which the price could test USD 22,000.
On the upside, an immediate resistance is near the USD 23,500 level. A clear move above this level could spark a steady upward move.
Ethereum price gained pace above the USD 1,600 and USD 1,620 resistance levels. ETH even surpassed the USD 1,650 resistance level, but it is now facing resistance near USD 1,680. ETH is up 2% in a day and 1% in a week. The next key resistance is near the USD 1,720 level, above which the price might gain bullish momentum.
On the downside, an initial support is near the USD 1,600 level. The next major support is near the USD 1,550 zone, below which the price could drop to USD 1,500.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) attempted a fresh increase above USD 0.512, but it faced a major resistance near USD 0.520. The price is now consolidating, with a strong support near the USD 0.50 level.
BNB is up over 7% and there was a clear move above the USD 295 resistance. The price even moved above USD 300 and might continue to rise towards the USD 312 level.
Solana (SOL) is consolidating below the USD 40 support. If the bears remain in action, there is a risk of a drop towards the USD 38 support zone. Conversely, it might clear USD 40 and test USD 42.
DOGE remained above the USD 0.0650 support zone and is now rising towards the USD 0.0680 resistance zone. The main resistance on the upside is near USD 0.070.
XRP price is again attempting a move above the USD 0.372 level. The next major resistance is near USD 0.388, above which the price may perhaps test the USD 0.40 resistance.
Other altcoins market today
Many altcoins are rising steadily, including MATIC, AVAX, UNI, ETC, LTC, CRO, NEAR, APE, VET, RUNE, and THETA. Out of these, APE rallied 9% and surpassed the USD 7.5 level. LDO is the best performer among the top 100 coins as it jumped 18% and surpassed USD 2.6.
Overall, bitcoin price is facing a major resistance near USD 23,500. If BTC surpasses this level, it could start a steady increase in the coming sessions.