Bitcoin and Ethereum Remain At Risk, ADA Starts Fresh Rally
- Bitcoin price is still stuck in a range.
- Ethereum’s rally pauses, XRP is consolidating near USD 0.95.
- ADA rallied 10% and surpassed the USD 1.65 level.
Bitcoin price failed to gain pace above USD 57,500. As a result, there was a fresh decline below the USD 56,500 level and BTC is currently (04:30 UTC) trading around this level.
Besides, most major altcoins are still above key supports. ETH could decline more if there is a clear break below USD 4,450. XRP must stay above USD 0.920 to revisit USD 1.00. ADA is outperforming and there was a clear move above the USD 1.65 level.
Total market capitalization
After another failure near USD 57,500, bitcoin price reacted to the downside. BTC declined below USD 56,500 and even tested USD 56,000. It is now consolidating losses above USD 56,500. A clear downside break below USD 56,000 may perhaps start a stronger decline. The next major support is near the USD 53,500 level.
On the upside, the price is facing resistance near the USD 57,200 level. The first major resistance is near the USD 57,500 level, above which the price could revisit USD 58,000.
Ethereum price started a downward move after it failed to clear the USD 4,800 resistance level. ETH is now trading below USD 4,550. A downside break below USD 4,450 and USD 4,420 could lead the price towards the USD 4,350 level in the near term.
If there is a fresh increase, the price might face resistance near the USD 4,550 level. The first key resistance is now forming near the USD 4,600 level.
ADA, BNB, SOL, SHIB, and XRP price
Cardano (ADA) outperformed with a strong move above the USD 1.65 level and erased all its weekly losses. The price is showing positive signs and it might revisit USD 1.70. Any more gains could send the price towards the USD 1.75 level.
Binance coin (BNB) is consolidating gains above USD 605 and USD 612 levels. An immediate resistance is near the USD 625 level. If there is a clear break above USD 625, the price could accelerate higher towards the USD 640 level.
Solana (SOL) is moving higher above the USD 225 level. An immediate resistance is near USD 232, above which the price could rise towards the USD 240 level. If there is a fresh decline, the price could revisit the USD 212 support.
SHIB is consolidating above the USD 0.000040 level. If there is a downside break below the USD 0.000040 level, the price could start a stronger decline. In this case, the price could decline towards the USD 0.000035 support level.
XRP price is stuck near the USD 0.950 level. If there are additional losses, the price could test the USD 0.920 level. On the upside, the USD 1.00 level is a major barrier for the bulls, above which the price may perhaps start a steady increase.
Other altcoins market today
Many altcoins are down over 5%, including STX, GALA, IMX, AVAX, EGLD, WAVES, LPT, BAT, 1INCH, KSC, and KDA. Out of these, AVAX and GALA declined almost 9% and breached the USD 107 and USD 0.55 levels, respectively. Meanwhile, IOTX and XRD are up almost 10%.
Overall, bitcoin price is struggling to stay above the USD 56,000 and USD 55,500 levels. A downside break might start another decline towards USD 53,500 or even USD 52,000.