DOGE Surges 50% To New ATH, Ethereum and Bitcoin Consolidate
- Bitcoin price is struggling to gain momentum above USD 55,500 and USD 56,000.
- Ethereum corrected lower and traded below USD 3,350, XRP tested the USD 1.42 support zone.
- DOGE rallied over 50% and it even surpassed USD 0.65.
Bitcoin price remained in a range above the USD 53,500 and USD 54,000 support levels. BTC seems to be facing a strong resistance near USD 56,000 and it is currently (04:00 UTC) consolidating near USD 55,000. If there is a fresh decline, the bulls might protect USD 52,000.
ETH started a downside correction after trading to a new all-time high above USD 3,500. XRP/USD also corrected lower and tested the USD 1.42 support.
Total market capitalization
After a downward move, bitcoin price formed a support base above the USD 53,000 zone. BTC corrected higher above USD 55,000, but it is facing a strong resistance near USD 55,500. The key breakout zone is near the USD 56,000 level. A successful close above the USD 56,000 level is a must to start a steady increase.
On the downside, an initial support is near the USD 54,200 and USD 54,000 levels. Any more losses might put pressure on the bulls and the price might decline towards USD 52,000.
Ethereum price remained in a strong uptrend and it broke the USD 3,500 level. After trading to yet another all-time high, ETH started a downside correction below USD 3,400. It even traded below USD 3,350 and it is now trading around USD 3,300.
An initial support on the downside is near the USD 3,250 level. The first major support is near USD 3,200, below which the price might test USD 3,120.
BNB, LTC, DOGE, and XRP price
Binance Coin (BNB) again failed to stay above the USD 650 pivot level. BNB corrected gains and tested the USD 625 support. If there are more losses, the bears might aim for a test of the USD 605 and USD 600 support levels.
Litecoin (LTC) started a steady increase above the USD 300 resistance level. LTC even spiked above the USD 340 level and is now consolidating gains. If there is a fresh increase, the bulls might aim for a break above the USD 350 barrier. On the downside, the USD 320 level is a decent support.
Dogecoin (DOGE) outperformed bitcoin and ETH, with a strong move above the USD 0.50 level. DOGE gained over 50% and it traded to a new all-time high above the USD 0.65 level. It seems like the bulls are aiming for a test of USD 1.00 in the next few days.
XRP price started a downside correction below the USD 1.50 pivot level. The price broke the USD 1.45 support and it even tested USD 1.42. If there are more losses, the bulls might struggle to protect the USD 1.40 support zone in the near term.
Other altcoins market today
A few altcoins gained over 10%, including ETC, LINK, DASH, WAVES, EOS, BCH, TEL, BTG, ZEC, and OMG. Out of these, ETC is gaining pace and it traded above the USD 75 level.
Overall, bitcoin price is consolidating below the USD 55,500 and USD 56,000 resistance levels. If BTC continues to struggle, there could be a fresh decline towards the USD 52,000 level.