- Bitcoin price is struggling near USD 20,000.
- Ethereum is fluctuating above USD 1,000, XRP consolidates near USD 0.32.
- MATIC is the best performer today.
Bitcoin price started a downside correction below the USD 20,500 support. BTC even spiked below the USD 20,000 level, but the downsides were limited. It is currently (04:10 UTC) trading near USD 20,200 and is down almost 1% in a day and 10% in a week.
Similarly, most major altcoins are struggling to extend recovery. ETH struggled below USD 1,100. XRP is still consolidating near USD 0.320. ADA is stable above the USD 0.45 support.
Total market capitalization
After a downside correction, bitcoin price was able to settle above the USD 20,000 level again. However, BTC is facing a lot of hurdles on the upside, starting with USD 20,500. The first major resistance is now near USD 21,000 and USD 21,200. A close above the USD 21,200 level might increase the chances of a break towards the USD 22,500 level.
On the downside, an initial support is near the USD 20,000 level. The next major support is near the USD 19,500 zone, below which the price could gain bearish momentum.
Ethereum price also followed a similar path and is currently consolidating above the USD 1,050 level. On the upside, the price is facing resistance near the USD 1,120 level. The next major resistance is near USD 1,150, above which the price could even surpass the USD 1,200 resistance zone. ETH is down almost 2% in a day and 13% in a week.
On the downside, an initial support is at USD 1,050. The next major support is near USD 1,000, below which the price could gain bearish momentum.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) corrected lower below the USD 0.465 support. The bulls are now protecting the USD 0.45 support. Any more losses could start a move towards the USD 0.42 support zone.
BNB is consolidating near the USD 220 level. On the upside, the first major resistance is near USD 225. The main resistance is near the USD 230 level, above which the bulls might aim for a steady increase towards the USD 250 level.
Solana (SOL) is stuck near the USD 35 resistance. If there is a fresh increase, the bears might appear near the USD 38 level. The main breakout zone is near USD 40, above which the price could rise to USD 50.
DOGE is hovering near the USD 0.0620 zone. An immediate resistance is USD 0.065. A clear move above the USD 0.065 level could set the tone for a move towards the USD 0.070 level.
XRP price is still consolidating near the USD 0.32 zone. If the bulls fail to protect the USD 0.30 support, there is a risk of a sharper decline in the coming sessions.
Other altcoins market today
A few altcoins are up over 5%, including MATIC, LTC, UNI, FLOW, MANA, THETA, SAND, BAT, and ENJ. Out of these, MATIC rallied 21% and surpassed the USD 0.48 level, becoming the best performer among the top 100 cryptassets today. It’s also up 12% in a week. Meanwhile, after yesterday’s rally, WAVES is the worst performer as it dropped 13% and neared USD 6.
Overall, bitcoin is struggling to gain pace for a move above the USD 21,200 level. If BTC settles below USD 19,500, it could start a fresh bearish wave.
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This post first appeared on: Crypto News