- Bitcoin price is struggling near $20,000.
- Ethereum fluctuates above $1,000, XRP consolidates near $0.32.
- MATIC is the best performer today.
Bitcoin price started a downward correction below the $20,500 support. BTC even spiked below the $20,000 level, but the downside was limited. Currently (04:10 UTC) it is trading near $20,200 and is down nearly 1% in a day and 10% in a week.
Similarly, most major altcoins are struggling to extend the rally. ETH struggled below $1,100. XRP is still consolidating near $0.320. ADA is holding steady above the $0.45 support.
Total market capitalization
After a downward correction, bitcoin price was able to settle back above the $20,000 level. However, BTC faces many hurdles on the upside, starting at $20,500. The first major resistance is now near $21,000 and $21,200. A close above the $21,200 level could increase the chances of a breakout towards the $22,500 level.
On the downside, an initial support is near the $20,000 level. The next major support is near the $19,500 zone, below which the price could gain bearish momentum.
Ethereum price also followed a similar path and is currently consolidating above the $1,050 level. On the upside, the price is facing resistance near the $1,120 level. The next major resistance is near $1,150, above which the price could even break above the $1,200 resistance zone. ETH is down almost one 2% in one day and 13% in one week.
On the downside, an initial support is at $1,050. The next major support is near $1,000, below which the price could gain bearish momentum.
Price of ADA, BNB, SOL, DOGE and XRP
Cardano (ADA) corrected lower below the $0.465 support. The bulls are now protecting the $0.45 support. Further losses could start a move towards the $0.42 support zone.
BNB is consolidating near the $220 level. On the upside, the first major resistance is near $225. The main resistance is near the $230 level, above which the bulls could point to a steady rally towards the $250 level.
Solana (SOL) is stuck near the $35 resistance. If there is a further rise, the bears could appear near the $38 level. The main breakout zone is near $40, above which the price could go up to 50 USD.
DOGE is hovering near the $0.0620 zone. An immediate resistance is $0.065. A clear move above the $0.065 level could set the tone for a move towards the $0.070 level.
XRP price is still consolidating near the $0.32 zone. If the bulls fail to protect the support at $0.30, there is a risk of a deeper drop in the coming sessions.
Another altcoin market today
Some altcoins are up more than 5%, including MATIC, LTC, UNI, FLOW, MANA, THETA, SAND, BAT, and ENJ. Of these, MATIC rallied 21% and broke above the $0.48 level, becoming the best performer among today’s top 100 crypto assets. It has also risen 12% in a week. Meanwhile, after yesterday’s rally, WAVES is the worst performer, dropping 13% and approaching $6.
Overall, bitcoin is struggling to gain pace to move above the $21,200 level. If BTC breaks below $19,500, a new bearish wave could start.