Bitcoin and Ethereum Eye Recovery, Altcoins Stable

Celý článek

Total market capitalization

Recently, bitcoin price extended its decline below the USD 44,500 and USD 44,000 levels. BTC even spiked below USD 43,500 before there was an upside correction. It recovered above USD 44,500 and started consolidating above USD 45,000. An immediate resistance on the upside is near the USD 45,500. The first major resistance is near the USD 46,000 level, above which the bulls might gain strength.

On the downside, an initial support is near the USD 44,500 level. The next major support could be USD 44,000, below which the price could extend losses towards USD 43,000 or USD 42,800. 

Ethereum price also followed a similar pattern and traded below USD 3,350. ETH broke the USD 3,200 support and tested USD 3,150. It is now rising and trading above USD 3,300. On the upside, the first major resistance for the bulls is near USD 3,360. The main barrier is now forming near the USD 3,400 level.

If there is another decline, the price might find bids near the USD 3,225 level. Any more losses could lead the price towards the USD 3,120 level.

Cardano (ADA) started a fresh decline below the USD 2.50 support. The price even traded below the USD 2.35 support. The next major support is near USD 2.30, below which the price might test USD 2.20. On the upside, the bears might remain active near the USD 2.50 and USD 2.55 resistance levels.

Litecoin (LTC) tested the USD 170 level before it started an upside correction. The price is back above USD 175, but it is facing resistance near USD 180. The next major resistance is near USD 185 and USD 188. On the downside, the price might find support near USD 172 and USD 165.

Dogecoin (DOGE) extended its decline below the USD 0.235 support. However, the bulls are still active above the USD 0.220 level. If there is a downside break below USD 0.220, the price might slide further towards the USD 0.200 support zone.

XRP price settled below the USD 1.12 pivot level. It is now trading well below USD 1.10. The main breakdown support is still near the USD 1.00 level. A daily close below USD 1.00 might increase selling pressure in the near term.

Many altcoins are up over 5%, including MINA, SNX, QNT, CELO, ICX, PERP, ATOM, TEL, HBAR, XEC, XMR, SOL, and AAVE. Out of these, MINA rallied over 20% and it broke the 6.0 level.

Overall, bitcoin price is recovering and trading above USD 45,000. However, BTC must surpass USD 46,000 to gain strength. 

_____