Bitcoin and Ethereum Consolidate, DOT and XTZ Rally

Bitcoin and Ethereum Consolidate, DOT and XTZ Rally

Bitcoin price is still struggling to clear the USD 47,200 resistance zone.Ethereum is facing resistance near USD 3,500 and USD 3,550, XRP is consolidating near USD 1.12.DOT rallied over 14% and broke the USD 30 level, XTZ is up by 40%.

Bitcoin price started trading in a range above the USD 46,000 support zone. BTC made an attempt to gain strength above USD 47,200, but failed. It is currently (04:23 UTC) consolidating and it might attempt a fresh increase above USD 47,200 in the near term.

Similarly, most major altcoins are consolidating in a range. ETH is facing an uphill task near the USD 3,500 and USD 3,550 levels. XRP must clear USD 1.15 to initiate a recovery wave. ADA is back above USD 2.50, but it is facing a major resistance near USD 2.65.

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Bitcoin price

After facing another rejection near USD 47,200, bitcoin price corrected lower. BTC is back below USD 47,000, but it is stable near the USD 46,500 level. The first key support is forming near the USD 46,000 level. The next major support is at USD 45,500. A downside break below USD 45,500 could open the doors for a fresh decline.

An immediate resistance is near the USD 47,000. The main breakout zone is still near USD 47,200. A close above USD 47,200 could open the doors for a steady increase. 

Ethereum price

Ethereum price is consolidating above the USD 3,400 level. On the upside, the bulls are facing resistance near USD 3,500. The next major resistance is near the USD 3,550 level. If the bulls succeed in clearing USD 3,550, the price could start a stronger move towards the USD 3,680 level.

On the downside, an initial support is near the USD 3,420 level. The first major support is at USD 3,400, below which there is a risk of a move towards the USD 3,300 level.

ADA, LTC, DOGE, and XRP price

Cardano (ADA) gained traction and climbed above the USD 2.50 resistance. The price even spiked above the USD 2.55 resistance, but there was no test of USD 2.65. To move into a positive zone and start a fresh increase, the price must clear the USD 2.65 resistance.

Litecoin (LTC) is stable above the USD 180 level. It even climbed above USD 185, but the bears defended the key USD 188 resistance. If there is a clear break above USD 188, the price could rise towards the USD 200 level in the near term. Conversely, there is a risk of a move towards the USD 172 level.

Dogecoin (DOGE) is consolidating above the USD 0.250 pivot level. On the upside, an immediate barrier is near the USD 0.262 level. The key breakout zone is near USD 0.265, above which the price might rise towards the USD 0.280 resistance zone.

XRP price is back above the USD 1.12 resistance, but it is still facing a lot of hurdles. The first breakout zone is near USD 1.15. The next major resistance is near USD 1.20, above which the price could start an increase towards the USD 1.30 and USD 1.32 levels.

Other altcoins market today

Many altcoins gained over 10%, including XTZ, ICX, ONE, CELO, ATOM, MINA, CRV, AVAX, KSM, DOT, ZIL, AR, WAVES, and MIOTA. Out of these, XTZ rallied by 40% and it broke the USD 6.0 level.

Overall, bitcoin price is still stuck below the USD 47,000 and USD 47,200 resistance levels. If BTC fails to stay above USD 45,500, it could resume its decline.


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