Bitcoin and Ethereum Still Range-Bound, LINK and THETA Outperform
- Bitcoin price managed to stay above the USD 30,000 level.
- Ethereum returned above USD 1,800, XRP is still below USD 0.40.
- LINK and THETA are the best performers today.
After dropping from USD 31,500 to USD 30,000 earlier today, bitcoin somewhat recovered and is currently trading near USD 30,500 again. BTC is up 3% in a day and down 4% in a week.
Similarly, most major altcoins are facing key hurdles. ETH failed to stay above the USD 1,850 resistance zone. XRP is moving lower below USD 0.40. ADA corrected gains but is still near USD 0.65.
Total market capitalization
Bitcoin price
After a steady increase, bitcoin price failed to clear the USD 31,500 resistance zone. BTC corrected lower and briefly traded below the USD 30,000 zone before recovering toward USD 30,500. On the downside, an initial support is near the USD 30,000 level. The next major support is near the USD 29,500 zone, below which the price could start another sharp decline.
On the upside, the price might face sellers near the USD 31,000 level. The next key resistance is near USD 31,500, above which the price could start a steady increase.
Ethereum price
Ethereum price topped below the USD 1,880 level. ETH failed to stay above the USD 1,850 level and corrected below USD 1,800 before returning above this level. ETH is up 3% in a day and down 7% in a week. On the downside, an initial support is near the USD 1,800 level. The next major support is near USD 1,750, below which the price might start a stronger decline.
On the upside, the price might continue to face sellers near USD 1,850. The main resistance is now near USD 1,880, above which the price could rise steadily.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) climbed above the USD 0.62 resistance and tested USD 0.65, but the upsides were limited. If there is a clear move above USD 0.65, the price could rise towards USD 0.70. ADA is still the best performer among the top 20 coins as it’s up over 10% in a day.
BNB started a recovery wave above the USD 285 level and is now consolidating near the USD 290 level. The next key resistance is at USD 295, above which the price could rise towards the USD 312 resistance zone.
Solana (SOL) is facing resistance near the USD 40 level. A close above the USD 40 level could start a steady increase. The next resistance is near USD 42, above which the price might even test the USD 45 level.
DOGE managed to return above the USD 0.0800 support level. However, if the bulls fail, a close below the USD 0.0780 level might push the price towards the USD 0.0750 support zone.
XRP price struggled to stay above the USD 0.40 level. A daily close below USD 0.40 might increase pressure on the bulls. On the upside, there is a key resistance forming near the USD 0.42 level.
Other altcoins market today
A few altcoins are in the green zone, including AVAX, MATIC, CRO, LINK, FTT, ALGO, THETA, HNT, NEO, and MIOTA. Out of these, LINK and THETA are the best performers among the top 100 cryptoassets by market capitalization as they jumped more than 13% in a day. LINK neared USD 8.50, while THETA surpassed USD 1.35, increasing its weekly gains to almost 2%. LINK advanced 11% in a week.
To sum up, bitcoin price is still range-bound and keeps fluctuating around the USD 30,000 level. The main support is still near USD 29,500, below which BTC could decline stronger.
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