02 Jun 2021 · 2 min read

Bitcoin, Ethereum Still Consolidate, DOGE Rallies On Coinbase News

Bitcoin price is trading with a bullish angle above USD 36,000. Ethereum is facing a strong resistance near USD 2,750, XRP is consolidating above 1.00. DOGE started a fresh rally and it broke the USD 0.350 resistance.

Bitcoin price is trading in a positive zone above the USD 36,000 level. BTC is currently (04:50 UTC) consolidating and it is facing many hurdles near USD 38,000. A clear break above USD 38,000 could set the pace for a larger increase in the coming sessions.

Most major altcoins are also trading in a range. ETH is consolidating near USD 2,600 and it could aim for more upsides in the near term. XRP/USD is trading in a range above USD 1.0 and it is facing resistance near USD 1.10.

Total market capitalization

Source: www.tradingview.com

Bitcoin price

Yesterday, bitcoin price saw positive moves above the USD 36,000 level. BTC even climbed above USD 37,000, but it struggled to clear USD 38,000. The price is now consolidating above USD 36,000. On the upside, an initial resistance is near the USD 37,200 level. The first major hurdle is near the USD 38,000 level, above which it could test the USD 40,000 barrier.
An immediate support on the downside is near USD 36,000. The first major support is near USD 35,500, below which there is a risk of a larger decline.

Ethereum price

Ethereum price is holding gains above the USD 2,550 level. ETH is facing resistance near the USD 2,650 level. The main hurdle is near the USD 2,750 level, above which the price might surge towards the USD 2,880 level.
On the downside, the price could find a strong buying interest near the USD 2,550 level. A close below might start a major decrease towards USD 2,200.

BNB, LTC, DOGE, and XRP price

Binance Coin (BNB) is showing positive signs above the USD 350 pivot level. If BNB settles above USD 365, there are chances of a steady increase towards the USD 380 level. The main barrier for a larger increase towards the USD 400 level in the near term.
Litecoin (LTC) is stuck near the USD 180 level. It seems like LTC bulls are preparing for a break above the USD 195 and USD 200 levels. If they succeed, the price could rise steadily towards the USD 225 level. If not, it could correct lower towards the USD 165 support.
Dogecoin (DOGE) is up over 10% and it broke the main USD 0.350 resistance. DOGE is now testing the USD 0.370 level. Any more gains could possibly open the doors for a move towards the USD 0.400 level. On the downside, the USD 0.350 level is a decent support zone. Major crypto exchange Coinbase Pro said it will start supporting DOGE tradind on June 3, "if liquidity conditions are met." DOGE is not yet available on Coinbase.com or via their consumer mobile apps.
XRP price settled above the USD 1.0 resistance zone. However, the bulls are struggling to start a fresh increase above USD 1.05. The main resistance is still near the USD 1.10 zone. If there is a fresh decline, the price could revisit USD 0.950.

Other altcoins market today

A few altcoins gained over 5%, including CRV, MDX, ZRX, ZIL, LEO, THETA, KSM, XTZ, DOT, MIOTA, and NEXO. Out of these, CRV rallied 12% and it broke the USD 2.0 level.

Overall, bitcoin price is showing positive signs above the USD 36,000 level. If BTC settles above USD 38,000, there could be a stronger increase in the coming sessions.
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