03 Jun 2022 · 2 min read

Bitcoin, Ethereum, and Altcoins Trim Gains, ICP Still Outperforms

 

  • Bitcoin price moved below USD 30,000 again.
  • Ethereum traded below USD 1,800, XRP might dive to USD 0.365.
  • The best performer, ICP, is trimming its gains also.

Bitcoin price attempted a fresh increase above the USD 30,500 resistance but it failed to clear the USD 31,200 resistance. BTC is currently (11:52 UTC) trading near USD 29,800 and is down 1% in a day, but is still up 4% in a week.

Similarly, most major altcoins are also moving lower. ETH is down over 4% and trading below USD 1,800. XRP is back below USD 0.40 and remains at a risk of more losses. ADA remained below the key USD 0.60 resistance zone.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a failed attempt above USD 30,500, bitcoin price faced a fresh round of selling. BTC started another decline and traded below the USD 30,000 level. On the downside, an initial support is near the USD 29,500 level. The next major support is near the USD 28,500 zone, below which the price could gain bearish momentum.

On the upside, the price might struggle above USD 30,500. The next key resistance is near USD 31,200, above which the price could rise towards the USD 32,000 resistance.

Ethereum price

Ethereum price remained below the main resistance at USD 1,850. ETH started a fresh decline and traded below the USD 1,800 level and neared USD 1,760. It is down over 4% in a day and is almost unchanged in a week. The next major support is near USD 1,700, below which the price might test USD 1,650.

On the upside, the price is facing resistance near the USD 1,820 level. The main major resistance is still near USD 1,850, above which the price could rise towards the USD 1,920 barrier. 

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) failed to clear the USD 0.60 resistance zone. It moved lower and is now trading below USD 0.58. If the bears remain in action, the price might slide towards the USD 0.52 support.

BNB is again testing the USD 300 support zone. A close below the USD 300 level may perhaps spark a sharper decline towards the USD 288 support. On the upside, the price might face resistance near USD 312.

Solana (SOL) failed to gain pace and stayed below the USD 42 level. It is down almost 7% and trading below the USD 40 level. It seems like the price might continue to move down towards the USD 36 level.

DOGE is consolidating near the USD 0.080 level. A clear move and close below the USD 0.080 level might put a lot of pressure on the bulls. In this case, the price could decline towards the USD 0.075 level.

XRP price failed to stay above the USD 0.40 resistance zone. It is now moving lower and trading near the USD 0.39 level. The main support on the downside is near the USD 0.365 level.

Other altcoins market today

Many altcoins are showing bearish signs, including SHIB, MATIC, NEAR, UNI, FTT, MKR, RUNE, QNT, NEXO, DASH, and CELO. Out of these, MKR is down 7%. ICP is still the best performer among the top 100 cryptoassets today as it’s up 4% in a day, but it also trimmed its gains and moved from almost USD 9.70 to USD 8.40.

To sum up, bitcoin price is still in a bearish zone below the USD 30,500 and USD 31,200 levels. If BTC slides below USD 29,500, it could even trade below the USD 28,500 support.

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