Bitcoin, Ethereum, and Altcoins Try to Recover
- Bitcoin price is trying to recover above USD 30,000.
- Ethereum is facing resistance below USD 1,850, XRP is consolidating below USD 0.40.
- WAVES still outperforms.
Bitcoin price moved above the USD 30,000 level again, but BTC must settle above USD 30,500 to start a stronger recovery wave. BTC is now (11:50 UTC) approaching USD 30,100 and is still down almost 5% in a day and up over 1% in a week.
Similarly, most major altcoins are also trying to recover losses. ETH is facing an increase in selling pressure below USD 1,850. XRP might attempt a recovery wave above the USD 0.40 level. ADA is now trading below the USD 0.60 pivot level.
Total market capitalization
After a clear move below USD 30,500, bitcoin price gained bearish momentum. BTC settled below the USD 30,000 level and even spiked below USD 29,500. It is now consolidating losses and attempting a recovery wave above USD 30,000. On the upside, the price is facing resistance near USD 30,200. The next key resistance is near USD 30,500, above which the price might start a stronger increase.
If there is no upside break, the price might resume its decline below USD 29,500. The next major support is near the USD 28,500 zone, where the bulls might take a stand.
Ethereum price also declined sharply below the USD 1,850 level. ETH traded close to USD 1,750 before it started a recovery wave. It is trading near USD 1,830 and is down over 5% in a day and 6% in a week. On the upside, an initial resistance is near the USD 1,850 level. The next major resistance is near USD 1,920, where the bears might remain active.
On the downside, an immediate support is at USD 1,780. The next major support is near USD 1,750, below which the price might tumble.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) settled below the USD 0.60 support. The bulls are now protecting the USD 0.55 support. If there is a downside break below USD 0.55, the price might drop to USD 0.52.
BNB is inching higher above the USD 300 level. On the upside, an initial resistance is near USD 312. The main breakout zone is now forming near the USD 320 level.
Solana (SOL) extended its decline below the USD 40 support. The price tested the USD 38 level and is attempting a recovery wave above USD 40 again. A close above the USD 42 level could set the pace for a stronger increase.
DOGE is now consolidating near the USD 0.0800 level. If there is a close below the USD 0.080 level, the price might decline towards the USD 0.075 level. Conversely, it could rise and test the USD 0.0840 level.
XRP price is attempting to recover above the USD 0.40 level. If the bulls succeed, the price might revisit the USD 0.425 resistance zone. If not, the price could decline towards the USD 0.365 support.
Other altcoins market today
Many altcoins are down over 5%, including DOT, TRX, AVAX, SHIB, MATIC, CRO, LTC, UNI, NEAR, XLM, LINK, ETC, ATOM, ALGO, and HBAR. WAVES is still the best performer among the top 100 cryptoassets by market capitalization today - it’s up almost 12% in a day and 88% in a week, as it surpassed the USD 9.90 level.
To sum up, bitcoin price is trying to recover above USD 30,000. If BTC stays below USD 30,500, there is a risk of a move below the USD 29,500 support zone.