Bitcoin and Ethereum Correct Gains, Major Altcoins Turn Red

  • Bitcoin price is correcting gains below USD 67,000.
  • Ethereum dropped towards USD 4,700, XRP declined below USD 1.25.
  • KDA and LRC are up over 26%.

Bitcoin price extended its increase above USD 68,600 and traded to a new all-time high. Recently, BTC started a downside correction below the USD 67,000 level. It is currently (04:45 UTC) showing bearish signs and it could correct further towards USD 65,500.

Most major altcoins are stable above key supports. ETH traded to a new all-time high near USD 4,840 before starting a consolidation phase. XRP failed to settle above the USD 1.265 resistance. ADA is showing positive signs above USD 2.20.

Total market capitalization

Source: tradingview.com

Bitcoin price

After setting a new all-time high above USD 68,600, bitcoin price started a downside correction and dropped below the USD 67,000 support level. On the downside, an initial support is near the USD 66,200 level. The next key support is near the USD 66,000 level, below which the price might test USD 65,500.

On the upside, the price could face hurdles near USD 67,500. The next major resistance is now forming near the USD 68,000 level.

Ethereum price

Ethereum price also traded to a new all-time high above USD 4,800. However, ETH failed to continue higher towards the USD 5,000 level. As a result, there was a decline below USD 4,750. It is now consolidating near the USD 4,700 level. The next key support is near USD 4,650 below which the price might test USD 4,550.

On the upside, an immediate hurdle is near the USD 4,800 level. The main breakout zone for a move towards USD 5,000 is at USD 4,850.

ADA, BNB, SOL, SHIB, and XRP price

Cardano (ADA) surged above the USD 2.30 resistance level. It tested the USD 2.37 level before correcting lower. The price is now trading below USD 2.25, but the bulls are protecting the USD 2.20 support zone.

Binance coin (BNB) failed to clear the USD 650 resistance level. As a result, there was a downside correction below the USD 635 level. The next major support is near USD 620, below which the price might decline further towards the USD 600 level.

Solana (SOL) failed to clear the USD 250 resistance. SOL is correcting lower and trading below USD 242. If the bears remain in action, the price could test USD 230. The next major support is near the USD 225 level.

SHIB is struggling near the USD 0.0000550 level. An immediate resistance is near the USD 0.0000565 support level. The main resistance is near the USD 0.000058 level, above which the price could rise towards the USD 0.000060 level.

XRP price spiked higher towards the USD 1.28 resistance, where it faced sellers. As a result, the price started a downside correction below USD 1.25. It seems like the price might dip further towards the USD 1.22 level.

Other altcoins market today

Many altcoins are up over 5%, including IOTX, KDA, LPT, LRC, ZEC, QNT, XLM, HBAR, HNT, LTC, and DASH. Out of these, LRC gained over 34% and it broke the USD 2.80 level.

Overall, bitcoin price is correcting lower below the USD 67,000 level. If BTC slides below USD 65,500, there is a risk of a larger decline.

Source

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