Bitcoin and Ethereum Look for Direction, DOGE and STX Still Outperform
- Bitcoin price is hovering below USD 21,500.
- Ethereum is facing hurdles near USD 1,250, XRP is consolidating above USD 0.35.
- DOGE and STX are still the best performers.
Bitcoin price started a consolidation phase above the USD 20,500 zone and moved above the USD 21,200 level. It is currently (11:59 UTC) trading near USD 21,350 and is down over 1% in a day and up 4% in a week.
Similarly, most major altcoins are also looking for direction. ETH still could test the USD 1,250 hurdle and continue higher. XRP is consolidating above USD 0.350 while ADA must settle above the USD 0.50 level to start a steady increase.
Total market capitalization
Bitcoin price
After a minor decline below USD 21,000, bitcoin price found support. BTC remained stable and climbed above the USD 21,200 level. On the upside, an immediate resistance is near the USD 21,500 level. The next major resistance is now near USD 21,800. A clear move above the USD 21,800 and USD 22,000 resistance levels might start a fresh increase.
On the downside, an initial support is near the USD 20,800 level. The next key support is near the USD 20,500 zone, below which the price could gain bearish momentum.
Ethereum price
Ethereum price also remained above the USD 1,180 level and managed to move back above the USD 1,220 resistance level. ETH is down almost 4% in a day and up almost 9% in a week. The next major resistance is near USD 1,250, above which the price could even clear the USD 1,280 resistance. In this case, the price may perhaps rise to USD 1,350.
On the downside, an initial support is at USD 1,200. The next major support is near USD 1,150, below which the price could decline to USD 1,050.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) is attempting a close above the USD 0.50 resistance. If the price stays above the USD 0.50 zone for some time, it could start a wave towards the USD 0.532 level.
BNB is moving higher towards the USD 240 level. The first major resistance is near the USD 245 level. A close above USD 245 could even push the price towards USD 262.
Solana (SOL) is back above the USD 40 zone and is consolidating in a range. The first major resistance is near the USD 42 level, above which the price could rise toward the USD 45 level.
DOGE is still trading above the USD 0.0750 resistance zone. The price is up almost 5% and might rise towards the USD 0.0800 level. The next major resistance is at USD 0.0820. DOGE is also up 27% in a day.
XRP price is consolidating above the USD 0.35 resistance. It is facing resistance near the USD 0.375 level. A clear move above USD 0.375 could initiate a move towards the USD 0.40 level.
Other altcoins market today
A few altcoins are showing positive signs, including TRX, AVAX, UNI, STX, ATOM, ETC, EOS, QNT, and KAVA. Out of these, STX is up over 15% and trading above the USD 0.49 level. STX is also up 42% in a week. Both DOGE and STX are the best performers among the top 100 cryptoassets by market capitalization today.
To sum up, bitcoin bulls seem to be aiming for a move above the USD 21,800 level. If they succeed, BTC could clear the USD 22,200 resistance in the near term.
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