Bitcoin and Ethereum Stuck In Range, Altcoins Struggle
- Bitcoin price is struggling to clear the USD 21,650 resistance.
- Ethereum is stuck below USD 1,650, XRP is facing resistance near USD 0.35.
- CEL declined over 15%.
Bitcoin price remained in a range above the USD 21,000 support zone. BTC made a few attempts to clear the USD 21,650 resistance but failed. It is currently (04:00 UTC) trading in a range and might soon make the next move.
Similarly, most major altcoins are struggling to start a recovery wave. ETH is facing a major resistance near USD 1,650 and USD 1,665. XRP might rise if it clears the USD 0.65 resistance. ADA is struggling to stay above the USD 0.45 support.
Total market capitalization
In the past few sessions, bitcoin price traded in a range above the USD 21,000 support. BTC climbed a few points higher above the USD 21,450 level, but the upsides were limited. The bears were seen active near the USD 21,550 and USD 21,650 levels. The next resistance is near the USD 22,000 level, above which the price might start a steady recovery wave.
On the downside, initial support is still near the USD 21,000 level. The main support is near the USD 20,750 zone, below which the price could slide towards USD 20,000.
Ethereum price also remained in a range above the USD 1,550 support zone. ETH climbed above the USD 1,600 level, but it faced strong resistance near the USD 1,650 level. The next key resistance is near the USD 1,665 level, above which the price could rise towards the USD 1,720 resistance zone.
If there is no upside break, the price might revisit the USD 1,550 support zone. The next major support is USD 1,520, below which the price could gain bearish momentum.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) failed to gain strength above the USD 0.465 level. It is now struggling to stay above the 0.45 support zone. A clear move below USD 0.45 might send the price towards the USD 0.42 level.
BNB is consolidating near the USD 295 level. If there is a bearish reaction, it might find bids near USD 288. Conversely, the price could clear the USD 300 and USD 305 resistance levels.
Solana (SOL) is facing a strong resistance near the USD 35 level. A close above USD 35 might push the price towards USD 36.50. Conversely, it might decline and test the USD 32 support.
DOGE attempted a fresh increase but failed to surpass the USD 0.070 resistance zone. It is now consolidating, and there is a risk of a drop towards the USD 0.065 support.
XRP price is consolidating below the USD 0.35 resistance zone. If there is no upside break, the price may perhaps decline towards the USD 0.32 support.
Other altcoins market today
Many altcoins are in the red zone, including SHIB, MATIC, UNI, ETC, LTC, FLOW, VET, FIL, APE, MANA, AAVE, and CEL. Out of these, CEL declined over 15% and traded below the USD 1.5 level.
Overall, the bitcoin price is facing major hurdles near USD 21,550 and USD 21,650 levels. If BTC continues to struggle, it might drop below USD 21,000.