Bitcoin and Ethereum Stuck in Range, FTM and NEAR Outperform
- Bitcoin price is consolidating below USD 47,000.
- Ethereum is still below USD 3,850, XRP eyes USD 0.85.
- FTM and NEAR are the best performers in the top 100 club today.
Bitcoin price found support near the USD 45,800 zone. BTC started a recovery wave above the USD 46,500 level and is currently (12:13 UTC) trading near USD 46,700.
Similarly, most major altcoins are also facing key hurdles. ETH declined below USD 3,800, but the bulls are protecting USD 3,680. XRP was moving lower towards the USD 0.800 support before recovering. ADA retested the USD 1.30 support zone.
Total market capitalization
After a fresh bearish reaction, bitcoin price found support near the USD 45,800 level. BTC is now attempting a recovery wave above the USD 46,500 level. On the upside, an initial resistance is near the USD 47,000 level. The first major resistance is near USD 47,500, above which the price might revisit the USD 48,000 barrier.
An immediate support on the downside is near the USD 46,000 level. The key support is near USD 45,800, below which the bears might aim for a new weekly low.
Ethereum price is also attempting an upside correction above USD 3,800. ETH climbed above USD 3,820, but it is facing a major resistance. A clear move above USD 3,850 is needed for a leg towards the USD 4,000 level.
On the downside, an initial support is near the USD 3,750 level. The next major support is near USD 3,700, below which the price could test USD 3,650.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) remained stable near the USD 1.30 level. It is back above USD 1.32, but the bulls are facing a major hurdle near USD 1.35. A close above USD 1.35 is a must for a sustained upward move in the near term.
Binance coin (BNB) found support near the USD 500 level. It is moving higher and approaching the USD 520 level. The next major resistance is near USD 532, above which the price could accelerate higher.
Solana (SOL) found support above USD 165 and started a minor recovery wave. It is back above USD 170, but there is a key hurdle near USD 175. The next major resistance is near the USD 180 level.
DOGE is consolidating losses near the USD 0.170 level. An immediate resistance is near the USD 0.172 level. The next major resistance is near the USD 0.175 level. If there is a downside break, the price might test the USD 0.165 level.
XRP price spiked below the USD 0.80 level before there was a recovery wave. On the upside, the USD 0.85 level is a key resistance. A proper close above USD 0.850 might set the pace for a larger increase in the near term.
Other altcoins market today
Many altcoins are up over 5%, including NEAR, VLX, FTM, RVN, ICP, AR, CELO, ONE, ROSE, XTZ, SCRT, RUNE, and ATOM. Out of these, NEAR gained almost 18% and surpassed the USD 17.35 level, while FTM is up 15%, nearing USD 2.30.
To sum up, bitcoin price is consolidating losses near the USD 47,000 level. If BTC attempts a recovery, the bears might remain active near the USD 47,500 and USD 48,000 levels.