Bitcoin and Ethereum Consolidate, SOL Tests USDT Positions, SHIB Slides

  • Bitcoin price is consolidating above the USD 62,000 support.
  • Ethereum is correcting gains, XRP settled above USD 1.20.
  • IOTX and TEL are up over 46%.

Bitcoin price failed to gain momentum above USD 64,000 and corrected lower. BTC declined below USD 63,000 and is currently (04:46 UTC) consolidating near USD 62,700.

Besides, most major altcoins are showing mixed results. ETH traded to a new all-time high above USD 4,650 before it started a downside correction. XRP is placed above the USD 1.20 support zone. ADA is consolidating near the USD 2.05 level.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a failed attempt above USD 64,000, bitcoin price started a downside correction. BTC corrected lower below the USD 63,500 and USD 63,000 levels. On the downside, an initial support is near the USD 62,500 level. The main support is now near the USD 62,000 level, below which the price might continue to move lower.

An immediate resistance on the upside is near the USD 63,200 level. The main resistance is near USD 63,500, above which the price might start a stronger increase.

Ethereum price

Ethereum price surged above the USD 4,600 level. ETH traded to a new all-time high before there was a downside correction. The price is trading below USD 4,600. On the downside, an initial support is near the USD 4,550 level. The next key support is near USD 4,500 below which the price might test USD 4,420.

If there is a fresh upward move, the price could climb to USD 4,650. The next key resistance is near the USD 4,720 level.

ADA, BNB, SOL, SHIB, and XRP price

Cardano (ADA) is consolidating above the USD 2.00 level. An initial barrier is near the USD 2.12 level. A close above this level could push the price above USD 2.20. If there is a downside correction, the price could test USD 1.95.

Binance coin (BNB) extended its increase above the USD 560 level. However, the bulls are struggling to clear the USD 565 level. Any more gains could lead the price towards the USD 580 and USD 600 levels. On the downside, the USD 550 level is a short-term support.

Solana (SOL) is surging and it broke the USD 225 resistance level. SOL is now approaching the USD 250 resistance level and flipped USDT, at the time of writing, becoming the fourth largest cryptoasset by market capitalization (USD 72.7bn). A close above USD 250 could open the doors for a larger increase in the coming sessions.

SHIB is down 10% and it traded below the USD 0.0000620 level, leaving the top 10 club of the largest cryptoassets. The price even traded below the USD 0.000060 support level. The next major support is near the USD 0.000058 level, below which it could test the USD 0.000055 level.

XRP price was able to climb above the USD 1.20 resistance level. It is now consolidating gains and the next major resistance is near the USD 1.25 level. A break above USD 1.25 could lead the price towards the 1.32 level. If not, the price could decline towards USD 1.18.

Other altcoins market today

Many altcoins are up over 8%, including IOTX, TEL, HOT, AMP, EGLD, KDA, AVAX, LUNA, COMP, NEAR, and OMG. Out of these, IOTX gained over 70% and it broke the USD 0.14 level.

Overall, bitcoin price is trading above the USD 62,000 support level. If BTC clears USD 63,500, it could start a fresh increase in the near term.

Source

Leave a Reply

Your email address will not be published. Required fields are marked *

Share This

Share this post with your friends!