Bitcoin and Ethereum Consolidate, AVAX and CHZ Dive
- Bitcoin price is consolidating below the USD 20,000 zone.
- Ethereum is struggling below USD 1,500, XRP is stuck near USD 0.32.
- AVAX and CHZ are down over 10%.
Bitcoin price found support near the USD 19,500 zone. BTC started a consolidation phase above the USD 19,500 level. It is currently (11:20 UTC) trading near USD 19,800 and might attempt a recovery above USD 20,000.
Similarly, most major altcoins are consolidating losses. ETH is trading below the USD 1,500 resistance zone. XRP remained well-bid above the USD 0.32 support. ADA might recover and test the USD 0.45 resistance.
Total market capitalization
After a downside break below the USD 20,000 level, the bitcoin price found support. BTC was stable near the USD 19,500 zone. It is now consolidating losses with a minor upward move towards USD 19,850. On the upside, the price might struggle near the USD 20,000 level. The next major resistance is USD 20,500, above which the price might start a recovery wave.
On the downside, initial support is now near the USD 19,620 level. The next key support sits near the USD 19,500 zone, below which the price could resume its decline.
Ethereum price spiked below USD 1,450 and tested the USD 1,420 zone. ETH is now consolidating near the USD 1,450 level. On the upside, an immediate resistance is near the USD 1,485 level. The next key resistance is near the USD 1,500 level, above which the price could rise and recover towards the USD 1,550 resistance zone.
If not, the price might continue to move down below the USD 1,420 level. The next major support is USD 1,400, below which the price could accelerate lower.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) tested the USD 0.42 support and started a minor upward move. The price climbed above the USD 0.435 level, but it is now facing a strong resistance near the USD 0.45 level.
BNB is struggling to stay above the USD 275 support zone. If there are more losses, the price might slide towards the USD 262 support. The next major support sits near the USD 250 level.
Solana (SOL) is consolidating near the USD 30 level. If there is a downside break, the price might dive towards the USD 28 level. Conversely, it might recover and test the USD 32 level.
DOGE is stable above the USD 0.060 zone. On the upside, the price is facing resistance near USD 0.0625, above which the bulls might aim a move towards the USD 0.065 level.
XRP price is stuck near the USD 0.32 support. If there is a downside break, the price might even test the USD 0.30 zone. On the upside, it may perhaps face sellers near USD 0.35.
Other altcoins market today
Many altcoins are in the red zone, including DOT, MATIC, AVAX, ETC, TRX, LINK, CRO, ATOM, NEAR, FLOW, SAND, and CHZ. Out of these, CHZ is down 10%, and there was a move below the USD 0.210 level.
To sum up, the bitcoin price is consolidating above the USD 19,500 level. BTC might recover, but upsides might be limited above the USD 20,000 level.