Bitcoin Consolidates, Ethereum Still Below USD 1,700
Bitcoin price is consolidating near the USD 55,000 pivot level. Ethereum is struggling to gain bullish momentum above USD 1,720, XRP is showing positive signs above USD 0.550. ONE and MANA gained over 13%.
Bitcoin price tested the USD 57,000 resistance zone before correcting lower. BTC is currently (05:30 UTC) stable near USD 55,000, with a major support near USD 54,200. It could rise once again unless there is a daily close below USD 53,200.
Similarly, most major altcoins might start a fresh increase. ETH is holding the key USD 1,650 support, but it is struggling to gain strength above USD 1,700. XRP/USD is trading in a bullish zone and it could attempt more upsides above USD 0.600.
Total market capitalization
After a short-term downside correction, bitcoin price found support near USD 54,800. BTC is now consolidating near the USD 55,000 level and it seems like it could rise towards the USD 56,000 resistance. The main weekly resistance is still near the USD 57,000 level, above which the price could rally towards USD 60,000.
If there is no upside break above USD 57,000, the price could start a fresh decline. An initial support is near the USD 54,200 level. The main weekly support is now near USD 53,200. A daily close below USD 53,200 could possibly call for a move towards the USD 50,000 zone.
Ethereum price recovered above the USD 1,650 and USD 1,660 resistance levels. ETH tested the USD 1,735 zone before correcting lower. It is now trading well above USD 1,650, but it must settle above USD 1,720 for a steady increase in the coming sessions.
On the downside, the USD 1,650 level is a major support. Any more losses might call for a fresh decline towards the USD 1,550 support level.
BNB, ADA, litecoin, and XRP price
Binance Coin (BNB) tested the key USD 280 resistance level before correcting lower. BNB is holding the USD 262 support level and it might soon make another attempt to surpass USD 280. If the bulls succeed, the price could test the USD 300 level.
Cardano (ADA) is facing strong resistance near the USD 1.200 and USD 1.220 levels. If ADA settles above USD 1.220, the bulls might aim for a 10%-15% surge. If not, there could be a fresh decline towards the USD 1.120 support.
Litecoin (LTC) is facing an uphill task near the USD 195 and USD 200 levels. A daily close above USD 200 is must for upside acceleration. The next major resistance sits near the USD 225 level. On the downside, the key breakdown support is near the USD 172 level.
XRP price outperformed and it remained well bid above the USD 0.500 level. It is now trading above USD 0.550 and it seems like the bulls could aim for an upside break above the USD 0.600 resistance in the coming days.
Other altcoins market today
A few altcoins gained over 10%, including ONE, KLAY, GRT, MANA, THETA, HBAR, FLOW, and KSM. Out of these, ONE rallied 20% and it cleared the USD 0.20 level.
Overall, bitcoin price is trading above USD 54,200 and USD 53,200. BTC might clear the USD 57,000 resistance and revisit the USD 60,000 level in the near term.