- Bitcoin price is facing key hurdles near USD 39,500.
- Ethereum struggled near USD 2,920, XRP is consolidating near USD 0.65.
- GRT and APE gained over 9%.
Bitcoin price started an upside correction from the USD 38,000 zone and was able to surpass the USD 39,200 resistance level. It is currently (04:57 UTC) struggling to clear the USD 39,500 level and is up almost 3% in a day, trimming its weekly losses to less than 5%.
Similarly, most major altcoins are facing key hurdles. ETH climbed above USD 2,880 but struggled near USD 2,920. XRP is consolidating losses near the USD 0.65 zone. ADA is struggling to recover above the USD 0.865 resistance zone.
Total market capitalization
After forming a base above USD 38,000, bitcoin price started a decent increase and climbed above USD 39,300. If it clears the USD 39,500 and USD 39,650 resistance levels, the next major resistance might be USD 40,000, above which the bulls might gain strength in the near term.
On the downside, an initial support is near the 38,800 level. The next major support is near USD 38,200, below which the price might start another decline.
Ethereum price was able to recover above the USD 2,850 resistance. ETH even climbed above USD 2,900, but the bears appeared near the USD 2,920 level. ETH is now up almost 2% in a day and down 6% in a week. The next major resistance is near the USD 2,950 level, above which the price could rise towards the USD 3,000 level.
On the downside, an initial support is near the USD 2,850 level. The next major support is near the USD 2,800 level, below which the price might increase its losses.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) settled below the USD 0.85 level and started a consolidation phase. The first key resistance is near the USD 0.865 level. A close above USD 0.865 may perhaps start a fresh increase.
BNB is now trading well below the USD 400 level. On the downside, the USD 385 level is an immediate support. The next key support is near USD 380, below which the price might decline to USD 365.
Solana (SOL) is consolidating near the USD 100 level. It is facing a major resistance near USD 102 and USD 105. A close above USD 105 might spark a steady increase in the near term.
DOGE is testing the USD 0.140 support and is almost unchanged in a day after a sharp drop yesterday. If the bears gain strength, there is a risk of a move towards USD 0.135. On the upside, the price might face resistance near USD 0.142.
XRP price is still trading in a range near the USD 0.65 level. The next key support is near the USD 0.632, below which the price could test the USD 0.62 support zone.
Other altcoins market today
A few altcoins are in the green zone, including LUNA, CRO, ATOM, BCH, APE, GRT, XTZ, WAVES, CVX, KNC, and SCRT. Out of these, APE and GRT jumped over 9% and surpassed USD 19 and USD 0.377, respectively.
Overall, bitcoin price is trying to recover losses above USD 39,200. However, BTC must settle above USD 39,500 and USD 39,650 to start a steady increase in the near term.