Bitcoin and Ethereum Consolidate Gains, Altcoins in Green
Bitcoin price gained pace after it broke the USD 22,500 resistance and climbed above the USD 23,000 level before the bears appeared near USD 23,450. It is currently (11:44 UTC) consolidating gains near the USD 23,000 level and is up 8% in a day and down 1% in a week.
Similarly, most major altcoins are consolidating gains. ETH corrected lower from the USD 1,675 resistance. XRP is trading in a range above the USD 0.35 level. ADA must stay above USD 0.50 to continue higher.
Total market capitalization
After a strong rise above the USD 23,000 level, bitcoin price spiked towards USD 23,500. However, BTC failed to continue higher above USD 23,450 and dropped just below USD 23,000 again before recovering. It is now consolidating just above the USD 23,000 level. On the downside, an initial support is near the USD 22,750 level. The next major support is near the USD 22,500 zone. Any more losses might increase selling pressure for a push to USD 22,000.
On the upside, the price might face resistance near USD 23,250. The next major resistance could be USD 23,450, above which the price could rise towards USD 24,000.
Ethereum price extended gains above the USD 1,600 level and climbed above the USD 1,650 level but faced sellers near USD 1,675. The price is now correcting lower and trading near USD 1,630. ETH is up almost 12% in a day and 7% in a week. On the downside, an initial support is near the USD 1,600 level. The next major support is near the USD 1,550 zone.
If there is another increase, the price might face sellers near USD 1,675.
Cardano (ADA) spiked towards the USD 0.52 level before it faced sellers. It is now back near USD 0.50. A downside break below USD 0.50 might send the price towards the USD 0.48 level.
BNB once again failed to
Read more on cryptonews.com
