Bitcoin and Ethereum Keep Struggling, ICP Rallies
- Bitcoin price is struggling to recover above USD 47,500.
- Ethereum is consolidating near USD 3,800, XRP is facing resistance near USD 0.85.
- ICP rallied over 29%, ATOM increased weekly gains to 57%.
Bitcoin price failed to clear the USD 47,500 resistance zone and started a fresh decline. BTC traded below the USD 46,200 support zone. It is currently (04:17 UTC) consolidating near USD 46,500 and facing resistance near USD 47,000.
Similarly, most major altcoins are struggling to gain pace. ETH is facing resistance near the USD 3,850 level. XRP might attempt a fresh increase above USD 0.85. ADA is trading well above the USD 1.30 support zone.
Total market capitalization
After facing hurdles near USD 47,500, bitcoin price started a fresh decline. BTC traded below the USD 47,000 and USD 46,000 levels. However, the price remained well bid above the USD 45,500 level. It is now recovering and trading above USD 46,000. On the upside, an initial hurdle is near the USD 47,000 level. The first major resistance is near USD 47,500, above which the price may perhaps test USD 48,500.
An immediate support is near the USD 46,000 level. The key support is near USD 45,500, below which the bears might gain strength.
Ethereum price spiked above USD 3,850, but there was no upside continuation. ETH is now consolidating above USD 3,800. On the downside, an initial support is near the USD 3,800 level. The next key support is near USD 3,750, below which the price could revisit USD 3,700.
An immediate resistance is near the USD 3,850 level. The next key hurdle is near USD 3,880, above which the price might rise towards USD 4,000.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) is trading above the USD 1.32 level. It is stuck near USD 1.332, with a major resistance near the USD 1.35 level. A clear move above the USD 1.35 level might start a steady increase in the near term.
Binance Coin (BNB) is consolidating above the 500 level. An immediate resistance is near the USD 520 level. The next major resistance is near USD 525, above which there are chances of a move above USD 532.
Solana (SOL) is struggling to stay above the USD 168 and USD 165 support levels. If there is a downside break below the USD 165 level, the price could accelerate lower. Conversely, SOL might recover towards the USD 175 level.
DOGE is facing resistance near the USD 0.172. A break above USD 0.172 might send the price further higher. The next key resistance is near USD 0.175, above which DOGE might test USD 0.180.
XRP price is struggling to gain pace for a move above USD 0.845 and USD 0.85. If it continues to fail, there might be a bearish reaction towards the USD 0.800 support zone in the near term.
Other altcoins market today
Many altcoins are up over 8%, including ICP, VLX, MINA, RVN, XTZ, LINK, ATOM, GRT, HNT, FIL, and BTT. Out of these, ICP gained 29% and surpassed the USD 36 level, increasing its weekly gains to almost 47%. Meanwhile, ATOM is now up 57% in a week after it jumped 9% in a day and almost reached USD 42.
Overall, bitcoin price is consolidating and facing resistance near USD 47,000. If BTC fails to stay above USD 45,500, there is a risk of a sharper decline in the near term.