- Bitcoin price is consolidating above the USD 19,500 support.
- Ethereum is still above USD 1,000, XRP could drop below USD 0.30.
- AAVE is the best performer among the top 100 coins.
Bitcoin price remained below the USD 20,000 pivot level and even spiked below the USD 19,500 support zone, but the downsides were limited. It is currently (11:45 UTC) consolidating near USD 19,800 and is unchanged in a day and down 2% in a week.
Similarly, most major altcoins are also trading in a range above key support. ETH stayed above the USD 1,000 support zone and recovered to USD 1,070. XRP remains at a risk of a drop below USD 0.30. ADA is consolidating near the USD 0.420 support zone.
Total market capitalization
After a close below the USD 20,000 level, bitcoin price extended its decline. BTC even broke the USD 19,500 level, but the bulls were active above USD 19,200. The price is now consolidating above the USD 19,500 level. On the upside, an immediate resistance is near the USD 20,000 level. The next major resistance could be USD 20,500, above which the price could attempt a move towards USD 21,200.
On the downside, an initial support is near the USD 19,500 level. The next major support is near the USD 19,200 zone, below which the price could start another stronger decline.
Ethereum price also spiked below the USD 1,050 support before the bulls appeared. ETH tested USD 1,030 and recovered a few points above USD 1,050. ETH is up almost 1% in a day and down over 5% in a week. It is now facing resistance near the USD 1,100 level while the next major resistance is at USD 1,120, above which the price could start a recovery wave.
If there is no upside break, the price might move down towards the USD 1,030 support. The next major support is near USD 1,000, below which the price could drop further.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) traded slightly below the USD 0.42 support zone before recovering. It is now consolidating near the USD 0.43 level. If there is an upside correction, it might face resistance near USD 0.45.
BNB tested the USD 220 support zone and is now consolidating near the USD 225 level. On the upside, the bears might remain active near the USD 232 and USD 235 levels.
Solana (SOL) stayed above the USD 32 support zone. If there is a break below the USD 32 level, the price could gain bearish momentum. Conversely, it could recover and test the USD 35 level.
DOGE is consolidating above the USD 0.060 support level. An immediate resistance is near the USD 0.0620 level, above which the price could rise towards the USD 0.0650 level.
XRP price is stuck near the USD 0.32 level. If there is a bearish reaction, the bears might attempt to clear the USD 0.302 support. In either case, XRP is the best performer among the top 10 coins today, as it is up almost 2% in a day.
Other altcoins market today
A few altcoins are trying to move higher, including UNI, LTC, XLM, ALGO, APE, EGLD, AAVE, OKB, RUNE, and KLAY. Out of these, AAVE is up 8% and is gaining pace above the USD 70 level. The price also increased 20% in a week.
To sum up, bitcoin price is struggling to recover above the USD 20,000 level. BTC could start a recovery wave if there is a clear move above the USD 20,500 level.
Read the full article here