Bitcoin and Ethereum Consolidate, Best Performer WAVES Trims Gains
- Bitcoin price returned above USD 38,000.
- Ethereum is still above the USD 2,500 support, XRP nears USD 0.75.
- WAVES trimmed gains after almost doubling in two weeks.
Bitcoin price tested USD 37,550 before recovering and is currently (11:56 UTC) consolidating near USD 38,300. BTC is unchanged in a day.
Similarly, most major altcoins are consolidating losses. ETH is stuck near USD 2,500, with many hurdles near USD 2,600. XRP is showing a few positive signs and might clear the USD 0.75 resistance. ADA is still above the USD 0.80 support zone.
Total market capitalization
After a downside break below USD 38,000, bitcoin price is now consolidating losses above USD 38,000 again. On the upside, the price could face resistance near the USD 38,800 level. The next key resistance is near the USD 39,200 level, above which the price might test the USD 40,000 barrier.
If there is no recovery wave, the price could continue to move down below USD 38,000. The next key support is near the USD 37,550 level, below which the price may perhaps test USD 36,200.
Ethereum price broke the USD 2,550 support level. However, ETH stayed above the USD 2,500 support zone. It is now facing resistance near the USD 2,565 and USD 2,580 levels. The next major hurdle could be USD 2,650, above which the price might rise steadily.
On the downside, the USD 2,500 zone is a major support. If there is a downside break, the price might decline towards the USD 2,440 level.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) stayed above the USD 0.80 support. It is recovering losses, but it might struggle to gain momentum above USD 0.82. The main breakout zone is now forming near USD 0.85.
BNB is attempting an upside correction from the USD 355 zone. It is trading near USD 375 and could clear the USD 380 level. The next target for the bulls may possibly be near the USD 388 level.
Solana (SOL) managed to stay above USD 80. If there is a downside break, the price might test the USD 75 level. On the upside, the bears may perhaps remain active near the USD 88 level.
DOGE is showing bearish signs below the USD 0.120 support. If the bears remain in action, the price might decline to USD 0.110. Conversely, it could rise and test the USD 0.125 resistance.
XRP price remained stable above the USD 0.70 level. The price is now trimming losses and showing positive signs above USD 0.74. If it settles above USD 0.75, there are chances of a move towards the USD 0.78 level or even USD 0.80.
Other altcoins market today
Many altcoins are still down over 4%, including SOL, MATIC, ATOM, NEAR, UNI, FTM, FIL, VET, XMR, GRT, ZEC, and ANC. Meanwhile, the best performing cryptoasset among the top 100 coins in the past seven days, WAVES, is trimming its gains today. It’s down almost 3%, breaching the USD 18.5 level. It’s still up 63% in a week and 95% in two weeks.
To sum up, bitcoin price is consolidating losses above USD 38,000. If BTC starts another slide, it could even visit the USD 35,500 support. Conversely, it still might recover to USD 40,000.