Bitcoin and Ethereum Still Range-Bound, AVAX and SAND Accelerate
- Bitcoin returned above USD 20,000.
- Ethereum is inching toward USD 1,150, XRP is still near USD 0.32.
- AVAX and SAND are among the best performers today.
Bitcoin price is still consolidating above the USD 19,500 support zone and is currently (11:47 UTC) trading near USD 20,100, with a key hurdle near USD 20,500. BTC increased over 2% in a day, erasing its weekly losses.
Similarly, most major altcoins are eyeing an upside break. ETH is moving higher towards USD 1,150, while XRP might gain pace for a move above the USD 0.325 pivot zone. ADA is stuck near the USD 0.45 support zone.
Total market capitalization
In the past two sessions, bitcoin price traded in a positive zone above USD 19,500 and is now moving higher above the USD 20,000 level. On the upside, an immediate resistance is near the USD 20,350 level. The main breakout resistance is still near USD 20,500, above which the price could start a stronger increase.
If not, there is a risk of a move towards the USD 19,500 support level. The next major support is near the USD 18,800 zone, below which the price could start a stronger decline.
Ethereum price is showing positive signs above the USD 1,100 zone. ETH is moving higher and trading above USD 1,130. If the bulls remain in action, the price could clear the USD 1,150 resistance. The next major resistance is near USD 1,180, above which the price could start a stronger increase. ETH is up almost 1% in a day and is almost unchanged in a week.
If there is a downside correction, the price might test USD 1,110. The next major support is near USD 1,060, below which the price could revisit the USD 1,000 support.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) is stuck near the USD 0.45 level. An immediate resistance is near USD 0.465. The main breakout resistance is now forming near USD 0.48, above which the price could start a stronger increase.
BNB is up 4% and trading above the USD 235 resistance zone. It seems like the bulls are aiming for a move above the USD 240 level. In this case, the price may perhaps rise towards the USD 250 level.
Solana (SOL) is up almost 6% and trading above the USD 35 resistance zone. The next major resistance is near the USD 36.50. Any more gains might call for a test of the USD 40 level.
DOGE is moving higher above the USD 0.0660 level. An immediate resistance is near the USD 0.0680 level. The next key resistance is near USD 0.070, above which the price could gain bullish momentum.
XRP price is trading in a range near the USD 0.320 zone. If there is a stronger increase above the USD 0.335 resistance, the price may perhaps clear the key USD 0.35 resistance zone.
Other altcoins market today
A few altcoins are rising, including DOT, LEO, AVAX, MATIC, UNI, MANA, SAND, ICP, MKR, XEC, RUNE, and GMT. Out of these, AVAX gained 8% and surpassed USD 18, while SAND rallied 11% and reached USD 1.25. AVAX is also up almost 3% in a week, while SAND jumped 17%.
To sum up, bitcoin price is still trading in a range above the USD 19,500 support. If BTC closes above USD 20,500, there could be a steady increase in the near term.