Bitcoin and Ethereum Trim Gains, Altcoins Correct Lower Too
- Bitcoin failed to stay above the USD 24,000 resistance.
- Ethereum moved below USD 1,700, XRP dropped toward USD 0.36.
- All altcoins from the top 100 are also correcting their gains.
Bitcoin price spiked towards USD 24,500 before it faced sellers. BTC is currently (11:49 UTC) trading near USD 23,800 and is still up 2% in a day and almost 3% in a week.
Similarly, all major altcoins are correcting their gains. ETH is trading below USD 1,700 again, while XRP failed near the USD 0.388 resistance zone, and ADA dropped towards USD 0.52.
Total market capitalization
After a close above USD 24,000, bitcoin price spiked higher. It traded close to the USD 24,500 level before the bears emerged and pushed the price below USD 23,800. If the bulls manage to push BTC toward USD 24,000 again, an immediate next resistance is at USD 24,250. The next major resistance could be USD 24,450, above which the price could rise towards the USD 25,000 resistance.
On the downside, an initial support is near the USD 23,500 level. The next major support is near the USD 23,200 zone, below which the price might accelerate lower.
Ethereum price spiked above the USD 1,750 resistance. However, ETH struggled to test the USD 1,800 barrier and corrected lower. The price is now trading just below the USD 1,690 level and is up almost 3% in a day and 7% in a week. On the upside, the price might face resistance near USD 1,750. The next key resistance is near the USD 1,780 level, above which the price could accelerate higher.
On the downside, the next major support is near the USD 1,650 zone, below which the price might start a stronger downside correction.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) is trimming its gains (it’s still up almost 5% in a day) and trading below the USD 0.535 resistance. The next major resistance on the upside is near the USD 0.55 level, above which the price could rise towards USD 0.588.
BNB gained pace above the USD 275 resistance level and broke USD 288 before moving lower again. If the bulls return, the price may rise towards the USD 300 level.
Solana (SOL) returned to the USD 42 level after spiking above USD 43.59, but is still up almost 4% in a day. The next key resistance is USD 45, where the bears might take a stand again.
DOGE failed to stay above the USD 0.0700 resistance, where it even tested USD 0.0725. If there are more gains, the price could rise toward USD 0.0750.
XRP price is up 3% and trading just below the USD 0.370 level. If it resumes its uptrend, the price might soon test the USD resistance 0.388 level. The next major resistance is near the USD 0.40 level.
Other altcoins market today
All altcoins from the top 100 are trimming their strong gains today. In either case, tokens such as QTUM, FXS, CRV, CAKE, KLAY, GRT, ETC, BTG, and RVN are still up 10%-34% in a day.
To sum up, despite the correction, bitcoin price is still trading in a positive zone above USD 23,500. If BTC climbs higher, it may perhaps visit the USD 25,000 resistance zone.