Bitcoin and Ethereum Consolidate, LEO Trends Lower, XTZ Accelerates
- Bitcoin price is holding gains above the USD 42,750 support.
- Ethereum returned above USD 3,100, XRP is still near USD 0.85.
- LEO keeps trimming its strong gains, XTZ jumped 11%.
Bitcoin price started a downside correction from the USD 45,500 zone. BTC corrected lower below the USD 44,000 level. It is currently (11:55 UTC) consolidating near USD 43,800 and preparing for the next key move.
Similarly, most major altcoins are also preparing for the next move. ETH corrected lower from USD 3,200, but it managed to get back above USD 3,100. XRP is holding gains above USD 0.80. ADA might remain well bid above the USD 1.12 support zone.
Total market capitalization
After a bearish reaction, bitcoin price declined below the USD 44,000 support zone. BTC even spiked below the USD 43,000 support. However, the bulls protected the USD 42,750 support and the price moved towards USD 44,000 again. If they fail to protect USD 42,750 and USD 42,500, there is a risk of a sharp decline. The next key support is near the USD 41,250 level.
On the upside, an initial resistance is near USD 44,000. The next major resistance is near the USD 44,200 level, above which the price could revisit USD 45,500.
Ethereum price also started a downside correction from the USD 3,200 zone. ETH declined below USD 3,100, but there was a strong buying interest near USD 3,030 and USD 3,020, and the price moved to the USD 3,150 level again. A downside break below USD 3,020 and USD 3,000 might start another stronger decline.
Conversely, the price may perhaps start a fresh increase above USD 3,150. The next key resistance is still near USD 3,200, above which the bulls might gain strength in the near term.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) declined below the USD 1.165 and USD 0.150 support levels. However, the bulls appeared near USD 0.132, and the price recovered. To start a fresh increase, the price must settle above the USD 1.20 level.
Binance coin (BNB) tested the USD 405 support zone. It is currently consolidating and facing resistance near the USD 420 level. A close above USD 420 may perhaps send the price towards the USD 432 level.
Solana (SOL) spiked below the USD 112 support but dips were contained and the price moved back above this level. The next key support is near USD 105. If there is a downside break below USD 105, the price could dive below the USD 100 level.
DOGE is holding gains above the USD 0.150 level. If there is a fresh increase, the price might rise towards the USD0.165 level. The next major resistance is near the USD 0.175 level.
XRP price is consolidating gains near the USD 0.85 level. The next major support is near the USD 0.82 level, below which the price might test USD 0.80. Conversely, the price might rise to the USD 0.90 resistance zone.
Other altcoins market today
A few altcoins are up over 5%, including LEO, MANA, ETC, XTZ, MIOTA, and GALA. Out of these, LEO is still up almost 48% in a day but it keeps trending lower and is now trading below USD 7.25, or 10% lower than its all-time high, reached yesterday. Meanwhile, XTZ accelerated, jumping 11% and surpassing the USD 4.55 level. It’s also up 21% in a week.
To sum up, bitcoin price must stay above the USD 42,750 zone to start a fresh increase. If BTC fails, there is a risk of a move towards USD 41,250 or even USD 40,000.