Ethereum Scores New ATH, Bitcoin Consolidates, DOGE Rallies
- Bitcoin price is consolidating above USD 55,000.
- Ethereum moved above USD 2,700 again, XRP corrected lower to test USD 1.35.
- DOGE rallied 15% and it broke the USD 0.30 resistance.
Bitcoin price tested the USD 55,800 zone before correcting lower. BTC traded below the USD 55,000 level, but downsides were limited. It is currently (12:20 PM UTC) trading above USD 55,000 and showing signs of a steady increase.
Besides, most major altcoins are trading in a positive zone. ETH corrected lower, but it climbed back above USD 2,700 again, hitting its new all-time high (ATH). XRP/USD failed to clear the USD 1.45 resistance and it corrected lower to USD 1.35.
Total market capitalization
After a minor decline, bitcoin price found support near USD 54,000. BTC is moving higher and it is trading above the USD 54,500 level. The current price action suggests high chances of a steady increase towards the USD 55,500 level. A successful close above the USD 55,500 resistance could push the price higher.
Conversely, there is a risk of a downside correction towards the USD 54,000 level. The next major support could be near the USD 53,250 level.
Ethereum price corrected lower after almost touching USD 2,720. It declined below the USD 2,650 level, but downsides were limited. The price recovered and it hit its new ATH of USD 2,735 (per Coingecko.)
If the bulls succeed, the price could rise towards the USD 2,750 or even USD 2,800. On the downside, the USD 2,650 level is a decent support. The next major support is near the USD 2,575 level.
BNB, ADA, DOGE, and XRP price
Binance Coin (BNB) corrected lower after testing the USD 580 resistance level. BNB is still holding gains above the USD 550 and USD 555 levels. If there is a downside break below USD 550, there is a risk of a drop towards the USD 525 level. On the upside, a push above USD 580 could lead the price to USD 600.
Cardano (ADA) failed to clear the USD 1.35 resistance zone. ADA is now consolidating near USD 1.30 and it might attempt a fresh increase towards the USD 1.35 level. Conversely, there could be a drop towards the USD 1.22 support in the near term.
Dogecoin (DOGE) started a strong increase and it broke the USD 0.30 resistance level. DOGE is showing positive signs and it might rise steadily towards the USD 0.332 and 0.335 levels. If there is a downside correction, the price could find bids near USD 0.280.
XRP price corrected lower after testing the USD 1.45 resistance zone. The price is now trading below USD 1.40, but it might find support near USD 1.365. The next major support is near the USD 1.35 level.
Other altcoins market today
Several altcoins climbed over 8%, including MATIC, ANKR, HNT, VGX, YFI, AAVE, SUSHI, XMR, ZIL and MANA. Out of these, MATIC remained elevated above the USD 0.70 resistance zone.
To sum up, bitcoin price is trading around the USD 55,000 level. If BTC settles above USD 55,500, it could open the doors for a steady increase in the next few sessions.