Bitcoin and Ethereum Consolidate, OKB Jumps
- Bitcoin price is consolidating below USD 43,500.
- Ethereum hovers near USD 2,900, XRP still above SD 0.75.
- OKB jumped 12% and surpassed USD 20.
Bitcoin price started a downside correction after it failed to surpass the USD 45,000 resistance. BTC declined below USD 44,000 and USD 43,500. It is currently (11:58 UTC) showing a few bearish signs and might decline below USD 43,000.
Similarly, most major altcoins are correcting gains. ETH traded below the USD 2,920 level. XRP might break the USD 0.75 support zone. ADA failed to stay above the USD 0.92 support zone.
Total market capitalization
After a failed attempt above USD 45,000, bitcoin price started a downside correction. BTC traded below USD 44,500 and USD 44,000. It even traded below USD 43,500. If the bears push the price below the USD 43,000 and USD 42,800 levels, the next stop could be USD 42,000. Any more losses might send the price towards the USD 41,200 level.
On the upside, the price is facing resistance near the USD 43,800 level. The next key resistance is near the USD 44,000 level, above which it could rise to USD 45,000.
Ethereum price started a downside correction after it failed to stay above USD 3,000. ETH declined below the USD 2,920 level, while an initial support is near the USD 2,850 level. The next key support is near the USD 2,800 level, below which the price might test USD 2,750.
On the upside, the price could struggle near USD 2,950. The main resistance is still near the USD 3,000 zone, above which the price might gain bullish momentum.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) extended decline below the USD 0.95 support. It even traded below the USD 0.92 support. If the bulls fail to protect the USD 0.900 support, the price might decline towards the USD 0.88 level in the near term.
BNB is struggling to stay above the USD 400 level. If there is a downside break below the USD 400 support, the bears might gain strength. The next major support is seen near the USD 388 and USD 385 levels.
Solana (SOL) is down 4% and there was a move below the USD 100 level. The next major support is near USD 95, below which the price might test the USD 88 level. On the upside, the bears could be active near the USD 105 level.
DOGE is moving lower and there is a risk of a move below USD 0.130. The next major support is near the USD 0.125 level. Any more losses may perhaps send the price to USD 0.122.
XRP price is trading well below the USD 0.80 resistance. It is now struggling to stay above the USD 0.75 support. If there is a downside break, the price could decline to USD 0.712.
Other altcoins market today
Many altcoins are in the red zone, including AVAX, DOT, SHIB, MATIC, CRO, LINK, UNI, LEO, MANA, SAND, FIL, and FLOW. Meanwhile, OKB jumped 12% and surpassed the USD 20 level, increasing its weekly gains to almost 21%.
To sum up, bitcoin price is consolidating and trading below USD 44,000. If the bulls fail to defend USD 42,500 or USD 42,000, there is a risk of a move towards USD 40,000.