Bitcoin and Ethereum Correct Gains, ETC Outperforms
- Bitcoin price traded above USD 43,000 before correcting lower.
- Ethereum corrected below USD 3,000, XRP failed to gain pace above USD 0.85.
- ETC increased its weekly gains to 80%.
Bitcoin price extended increase above the USD 43,000 resistance zone and even climbed above USD 43,200, but there was no move above USD 43,500. It is currently (04:20 UTC) consolidating near USD 42,000.
Similarly, most major altcoins are also correcting gains. ETH tested the USD 3,050 resistance before correcting lower. XRP is now consolidating near the USD 0.82 support zone. ADA spiked above USD 1.00 before correcting lower again.
Total market capitalization
Bitcoin price
After a clear move above USD 42,500, bitcoin price extended its increase above USD 43,000. BTC even moved above USD 43,200 before it faced sellers. It failed to test the USD 43,500 resistance and corrected lower. It is now trading below the USD 42,500 support. The next major support is near USD 42,000, below which the price might start a stronger downside correction.
Conversely, the price might start a fresh increase above the USD 42,750 level. The next major resistance is near the USD 43,000 level, above which the price could rise to USD 43,500.
Ethereum price
Ethereum price was able to spike above the USD 3,020 level and test the USD 3,050 resistance before there was a downside correction below the USD 2,950 support. The next major support is near the USD 2,920 level, below which the price might test the USD 2,850 support zone.
On the upside, an initial resistance is near the USD 3,000 level. The next key resistance might be near the USD 3,050 level, above which the price may perhaps start a stronger increase.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) gained pace above the USD 0.95 resistance zone. It even climbed above the USD 1.00 level, but there was no upside continuation. On the downside, the USD 0.95 zone could act as a strong support.
BNB gained pace above the USD 405 level and tested USD 410. It is now correcting lower towards USD 400. If there is a downside break below USD 400, the price might decline towards USD 388.
Solana (SOL) failed to test the USD 95 resistance level. It is now consolidating near the USD 90 level. If there is a downside break below USD 90 and USD 88, the price might revisit USD 80.
DOGE extended increase above the USD 0.122 level. It even tested USD 0.125 before there was a downside correction. On the downside, the previous resistance at USD 0.120 might act as a support.
XRP price gained pace above the USD 0.85 resistance. However, it failed to clear USD 0.865 and corrected below USD 0.85. If the bulls struggle, there might be a test of USD 0.82.
Other altcoins market today
A few altcoins are in the green zone, including DOT, BCH, TRX, ETC, EGLD, VET, FIL, APE, HNT, and EOS. Out of these, ETC gained over 8% and cleared the USD 45 level, increasing its weekly gains to 80%.
Overall, bitcoin price is trading in a positive zone above USD 42,000. As long as BTC is above USD 42,000 and USD 41,550, it could start a fresh increase in the near term.
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