09 Jun 2022 · 2 min read

Bitcoin and Ethereum Still Consolidate, LINK, HNT, and XTZ Outperform

 

  • Bitcoin price is stuck in a range near the USD 30,000 pivot zone.
  • Ethereum is consolidating near USD 1,800, XRP is in a tiny range near USD 0.40.
  • LINK, HNT, and XTZ are the best performers today.

Bitcoin price moved lower in a range and tested the USD 30,000 level before recovering. It is currently (11:48 UTC) still stuck in its usual range and trades near USD 30,400. BTC is unchanged in a day and up almost 3% in a week.

Similarly, most major altcoins are trading in a range. ETH is struggling to clear the USD 1,850 resistance zone. XRP is now consolidating near the USD 0.40 level. ADA is eyeing an upside break above the USD 0.65 resistance zone.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a downside correction, bitcoin price traded near the USD 30,000 level. However, downsides were limited and the price is now facing resistance near the USD 30,500 level. The next key resistance is near the USD 31,200 resistance zone. The main resistance is still near the USD 31,500 zone, above which the price could rally.

On the downside, an initial support is near the USD 29,800 level. The next major support is near the USD 29,500 zone, below which the bears could gain strength in the near term.

Ethereum price

Ethereum price traded below the USD 1,800 support zone. However, ETH bulls were active near the USD 1,770 level and pushed the price above USD 1,800 again. ETH is unchanged in a day and a week. The next major support is near the 1,750 level. The main support is near USD 1,720, below which the price might decline sharper. 

On the upside, the USD 1,850 level is a key breakout zone. The next key resistance is near the USD 1,880 level, above which the price could start a steady increase.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) is again rising and trading above the USD 0.640 level. A successful close above the USD 0.65 and USD 0.655 could set the pace for a larger increase.

BNB is moving higher towards the USD 295 resistance level. If there is a clear move above the USD 295 level, the price may perhaps surpass the USD 300 resistance zone.

Solana (SOL) is up 5% and trading above the USD 40 resistance level. The next key resistance is near the USD 42 level. Any more gains might set the pace for a move towards the USD 45 level.

DOGE is trading near the USD 0.0800 support level. If the bulls attempt a recovery wave, they could face resistance near the USD 0.082 level. The next major hurdle for them is USD 0.085.

XRP price is stuck near the USD 0.40 level. On the upside, it is facing resistance near the USD 0.42 level. The next major resistance is near the USD 0.45 level.

Other altcoins market today

A few altcoins are moving higher, including LEO, MATIC, FTT, ATOM, XTZ, HNT, ZEC, and OMG. HNT, XTZ, and LINK are the best performers among the top 100 cryptoassets by market capitalization today, as they jumped 5%-9% in a day. LINK is also the best performer in a week, having increased 32%. XTZ and HNT are up 14% and 31% in a week, respectively.

To sum up, bitcoin price is trading in a range near the USD 30,000 level. To start a stronger increase, BTC must clear the USD 31,200 and USD 31,500 resistance levels.

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