Bitcoin and Ethereum Still Stuck In Range, THETA and HNT Rally
- Bitcoin price is still trading well below the USD 31,500 resistance.
- Ethereum hovers near USD 1,800, XRP is struggling near USD 0.40.
- THETA and HNT rallied in double digits.
Bitcoin price failed to clear the USD 31,500 resistance zone and corrected below USD 30,500. It is currently (04:01 UTC) trading near USD 30,300 and is up 1% in a day and almost 2% in a week.
Similarly, most major altcoins are also range-bound. ETH traded below the USD 1,820 and USD 1,800 levels. XRP is fluctuating around the USD 0.40 level while ADA is trying to move back to the USD 0.650 resistance level.
Total market capitalization
After a decent increase on Wednesday, bitcoin price faced sellers near the USD 31,500 level. BTC corrected gains and traded below the USD 30,500 support zone. 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 there is a risk of a larger decline in the near term.
On the upside, the main resistance is still near the USD 31,500 zone, above which the bulls might gain strength.
Ethereum price failed to clear the USD 1,850 and USD 1,880 resistance levels. ETH is trading near the USD 1,800 level and is up almost 1% in a day and down almost 2% in a week. On the downside, an initial support is near the USD 1,750 level. The next major support is near USD 1,720, below which the price might decline sharply.
On the upside, the USD 1,850 level is an immediate hurdle. The next key resistance is near the USD 1,880 level, above which the price could even surpass the USD 1,920 resistance.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) attempted a move above the USD 0.650 and USD 0.655 resistance levels. However, the bulls failed and the price corrected lower toward USD 0.64. The next major support is near the USD 0.620 level.
BNB made an attempt to clear the USD 295 resistance level. However, there was no upside break and the price moved below USD 290. The main support is now forming near the USD 278 and USD 275 levels.
Solana (SOL) struggled to stay above the USD 40 resistance level. The price is now trading well below the USD 40 level. If there is a clear move below the USD 38 level, the price may perhaps test USD 35.
DOGE is trading below the USD 0.0800 support level. An immediate support is near the USD 0.0780 level. Any more losses might send the price towards the USD 0.0750 level.
XRP price is consolidating near the USD 0.40 level. The price might start a stronger increase if there is a clear move above the USD 0.42 and USD 0.425 levels. If not, it could test USD 0.35.
Other altcoins market today
Many altcoins are in the red zone, including DOT, TRX, AVAX, MATIC, LTC, UNI, FTT, ALGO, ATOM, XTZ, MANA, and APE. Meanwhile, THETA jumped 10% and surpassed USD 1.35, while HNT rallied 14% and reached USD 11.70, increasing its weekly gains to 32%. THETA is up 13% in a week.
Overall, bitcoin price is moving lower in a range and might revisit the USD 29,500 support. If BTC fails to stay above USD 29,500, there could be a sharper bearish wave.