Bitcoin and Ethereum Face Resistance, BNB and DOT Rally

  • Bitcoin price is facing hurdles near USD 62,000.
  • Ethereum is stuck below USD 4,400, XRP must clear USD 1.12 for more gains.
  • YOOSHI and SAND are up 55%.

Bitcoin price attempted another key upside break above the USD 62,500 and USD 62,650 resistance levels. However, BTC failed to gain strength above USD 62,500 and trimmed gains. It is currently (04:21 UTC) trading below USD 61,500, but it is stable above USD 60,000.

Besides, most major altcoins are also trading in a range. ETH is facing a major resistance near USD 4,400 and USD 4,450. XRP is still trading well below the USD 1.15 resistance. ADA is struggling to settle above the USD 2.00 resistance.

Total market capitalization

Source: tradingview.com

Bitcoin price

Recently, bitcoin price made another attempt to clear the USD 62,500 resistance zone. However, BTC failed to continue higher and declined. It broke the key USD 61,200 support zone. There was also a spike below USD 60,500, but the price is now back above USD 61,200. On the downside, an initial support is near the USD 60,500 level. The main support is still near the USD 60,000 level, below which the price might start a stronger decline. 

An immediate resistance on the upside is near the USD 61,500 level. The main breakout zone is still near USD 62,500, above which the price might start a steady increase.

Ethereum price

Ethereum price is trading above the USD 4,250 support zone. ETH seems to be facing a major resistance near USD 4,400 and USD 4,450. A clear break above USD 4,450 could open the doors for a larger increase. The next stop for the bulls could be USD 4,650.

On the downside, an initial support is near the USD 4,300 level. The next key support is near USD 4,250 below which the price might test USD 4,120.

ADA, BNB, SOL, SHIB, and XRP price

Cardano (ADA) is facing a strong resistance near the USD 2.00 level. A close above USD 2.00 might lift the market sentiment. If not, the price might decline and revisit the USD 1.88 support level in the near term.

Binance coin (BNB) is up over 6% and it is trading above USD 540. An immediate hurdle is near the USD 550 level. A close above USD 550 could lead the price towards the USD 580 and USD 600 levels.

Solana (SOL) is consolidating above the USD 200 level. The bulls are facing resistance near USD 212. A clear break above USD 212 might even push the price above USD 220. Conversely, a break below USD 200 could push the price towards USD 192.

SHIB is struggling to stay above the USD 0.0000700 level. A downside break below the USD 0.000070 level might spark a sharper decline. The next major support is near the USD 0.000065 level.

XRP price is stuck below the USD 1.12 resistance level. The main barrier is still near the USD 1.15 level, above which the price could gain bullish momentum. If not, the price could revisit USD 0.95.

Other altcoins market today

Many altcoins are up over 8%, including SAND, YOOSHI, LRC, ANKR, MANA, QTUM, SUSHI, DOT, ENJ, ELON, CHZ, KSM, OMG, and RUNE. Out of these, DOT jumped by almost 17% and neared the USD 50 level. Meanwhile, SAND gained over 57% and it broke the USD 2.70 level before correcting towards USD 2.60.

Overall, bitcoin price is struggling to gain pace above USD 62,000 and USD 62,500. If BTC clears USD 62,500, it could start a steady upward move.

Source

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