Bitcoin’s USD 22,000 Test Fails, Ethereum Consolidating, MATIC Holding Gains
- Bitcoin price corrected lower below USD 22,000.
- Ethereum is consolidating near USD 1,200, XRP failed to stay above USD 0.35.
- MATIC is holding gains and CRO eyes a fresh increase.
Bitcoin price started a major increase above the USD 21,500 resistance zone. BTC even tested the USD 22,500 resistance before there was a downside correction. It is currently (11:49 UTC) trading around USD 21,600 and might attempt another increase.
Similarly, most major altcoins are eyeing more upsides. ETH trimmed gains and is now consolidating near USD 1,200. XRP spiked above USD 0.355 before it corrected lower. ADA is correcting lower towards the USD 0.45 support.
Total market capitalization
Bitcoin price
After an increase, bitcoin price faced sellers near USD 20,500. BTC started a downside correction and traded below USD 22,000. It even spiked below USD 21,500, but remained stable above USD 21,200. The next major support is near the USD 20,900 zone, below which the price could decline towards the USD 20,500 support level.
On the upside, the price is facing resistance near the USD 22,000 level. The next major resistance is near USD 22,500, above which the price could start another increase.
Ethereum price
Ethereum price also followed a similar pattern and started a downside correction from USD 1,275. ETH had declined below the USD 1,220 and USD 1,200 support levels, before returning to USD 1,225. The next major support is near USD 1,180, below which the price could retest the USD 1,120 support zone.
On the upside, the bulls might face resistance near USD 1,240. The next major resistance is near USD 1,275, above which the price could start another increase.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) attempted an increase above the USD 0.480 level. However, the bears were active below the USD 0.50 level. The price is now correcting gains and might even test the USD 0.45 level.
BNB was able to clear the USD 245 resistance zone. It failed to test the USD 250 level and corrected lower. It is now trading at the USD 240 level, though it might test the USD 35 level.
Solana (SOL) spiked towards the USD 40 level, where it faced sellers. It is now trimming gains and trading just above USD 37. The next major support sits near the USD 35.50 level.
DOGE spiked above the USD 0.0720 resistance zone. It failed to test USD 0.075 and corrected lower. There was a move below the USD 0.070 level and the price may perhaps test USD 0.068.
XRP price failed to stay above the USD 0.35 resistance level. It is correcting gains and trading near USD 0.34. If the bears remain in action, the price could revisit the USD 0.32 support.
Other altcoins market today
Many altcoins are still in the green zone, including SHIB, FTT, MATIC, LTC, CRO, XLM, BCH, ICP, EOS, AAVE, and BTT. Out of these, CRO could gain pace if it clears the USD 0.125 level.
To sum up, bitcoin price is correcting gains and trading below USD 22,000. If BTC stays above USD 21,000, it could start another increase above USD 22,000 in the near term.
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