Bitcoin and Ethereum Consolidate Below Hurdles, ADA Surges
- Bitcoin price is consolidating below the USD 51,500 resistance.
- Ethereum is facing resistance below USD 4,100, XRP is still below USD 0.95.
- ADA is nearing USD 1.60.
Bitcoin price settled above the USD 50,000 level. BTC is currently (11:51 UTC) facing a strong resistance near the USD 51,200 and USD 51,500 levels. A close above USD 51,500 is needed for a sustained upward move.
Similarly, most major altcoins are trading below hurdles. ETH is stuck below the USD 4,120 and USD 4,150 resistance levels. XRP could correct even more if it breaks the USD 0.90 support. ADA surged almost 10% and surpassed the USD 1.50 resistance.
Total market capitalization
After a close above USD 50,000, bitcoin price started consolidation. BTC is showing a few positive signs, with an immediate resistance near the USD 51,200 level. The next resistance is near the USD 51,500 zone. A proper close above USD 51,500 could open the doors for a steady increase in the near term.
On the downside, an initial support is near the USD 50,200 level. The next major support is near USD 50,000, below which there is a risk of a move towards the USD 48,500 level.
Ethereum price is also consolidating above the USD 4,000 pivot level. An immediate hurdle is near the USD 4,120 resistance. The next key resistance is near the USD 4,150 level. A close above USD 4,150 might start a stronger increase in the coming sessions.
An immediate support is near the USD 4,020 level. The main breakdown support is near the USD 4,000 level, below which the price might start a fresh decline.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) accelerated above the USD 1.45 resistance zone. The price climbed almost 10% and even broke the USD 1.50 level. If the bulls remain in action, the price could test USD 1.60. ADA is now up almost 27% in a week.
Binance coin (BNB) is trading near the USD 550 resistance. A close above USD 550 might lead the price towards USD 565. Conversely, there is a risk of a move towards the USD 532 level. The next major support is near the USD 525 level.
Solana (SOL) surged above the USD 195 level. It even surpassed USD 200 and started consolidating gains. If there are more gains, the price could rise towards the USD 212 level. On the downside, the USD 188 level is a major support.
DOGE is showing a few positive signs above USD 0.188. The first key resistance is near USD 0.195. A clear move above USD 0.195 may even push the price above USD 0.20. If not, it could correct lower towards the USD 0.175 level.
XRP price is trading in a range above the USD 0.90 level. An immediate resistance is near the USD 0.932 level. The first major resistance is near USD 0.95, above which the price could rise towards the USD 1.00 barrier.
Other altcoins market today
Many altcoins are up over 8%, including KDA, VGX, UNI, ZIL, AAVE, XMR, HNT, THETA, EGLD, and VET. Out of these, KDA rallied 21% and surpassed the USD 15.50 level.
To sum up, bitcoin price is consolidating above the USD 50,000 pivot level. If BTC clears the USD 51,500 resistance, it could accelerate higher in the coming sessions.