Bitcoin and Ethereum Still Consolidate, MKR Outperforms
- Bitcoin price is consolidating near USD 30,000.
- Ethereum managed to stay above USD 2,000, XRP is holding gains above USD 0.42.
- MKR is the best performer among the top 100 coins today.
Bitcoin price started a downside correction below the USD 30,000 level before moving back. BTC is now (04:07 UTC) consolidating near USD 30,300 and facing hurdles on the way toward USD 31,000. A clear move above USD 31,000 and USD 31,500 could open the doors for a stronger increase. BTC is unchanged in a day and a week.
Similarly, most major altcoins are stuck in a range. ETH is still trading above the USD 2,000 support. XRP might gain pace if there is a move above the USD 0.45 resistance. ADA could revisit the USD 0.60 resistance zone.
Total market capitalization
After a downside correction, bitcoin price found support above the USD 29,000 level. BTC formed a base and recovered losses above USD 30,000. It is now consolidating above the USD 30,000 level. An immediate resistance is near the USD 30,600 zone. The next key resistance is now forming near the USD 31,500 level. A close above the USD 31,500 zone could start a fresh increase.
If there is another decline, the price might find support near USD 29,500. The next major support is near the USD 29,000 level, below which the price could even test USD 28,000.
Ethereum price also started a downside correction below the USD 2,050 level. ETH even spiked below the USD 2,000 level. However, the bulls were active above USD 1,975. ETH is now back near USD 2,070 and is unchanged in a day and down almost 8% in a week. The first major resistance is near USD 2,120, above which the price could rise towards USD 2,200.
On the downside, the price might find bids near USD 2,000. The next major support is near the USD 1,980 level, below which the price might visit the USD 1,920 support.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) corrected lower below USD 0.58. However, downsides were limited below the USD 0.55 level. The price is moving higher, but it might face a strong resistance near USD 0.60.
BNB is back above the USD 300 level. The price is now facing resistance near the USD 312 level. The main breakout zone is near the USD 320 level, above which the price could rise steadily.
Solana (SOL) declined towards the USD 52 support level. It is now rising and trading above the USD 55 level. If the bulls remain active, the price may perhaps rise towards the USD 60 level.
DOGE is stuck near the USD 0.0900 pivot level. An immediate resistance is near the USD 0.092 level. The next key resistance zone is near the USD 0.095 level.
XRP price corrected lower and traded below the USD 0.42 level. The price even traded close to USD 0.42 before there was a fresh increase. To continue higher, the price must clear the USD 0.45 resistance.
Other altcoins market today
Many altcoins are still in the red zone, including DOT, AVAX, TRX, MATIC, NEAR, XLM, ETC, ICP, FIL, ZEC, AXS, and GRT. Conversely, MKR jumped over 8% in a day, nearing USD 1,650 and increasing its weekly gains to almost 54%. MKR is the best performer among the top 100 cryptoasssets by market capitalization today.
Overall, bitcoin price is consolidating near the USD 30,000 level. If BTC clears the USD 31,000 and USD 31,500 resistance levels, there could be a fresh increase.