Bitcoin and Ethereum Consolidate Gains, FTM Accelerates
- Bitcoin price is consolidating near USD 22,000.
- Ethereum dipped and tested USD 1,500, XRP is struggling near 0.35.
- FTM is now the best performer among the top 100 coins.
Bitcoin tested USD 22,800 before there was a downside correction. It is currently (11:27 UTC) consolidating near USD 21,900 and is down less than 1% in a day and up almost 10% in a week.
Similarly, most major altcoins are also consolidating gains. ETH rallied towards USD 1,620 before there was a pullback. XRP is struggling to start an increase towards the USD 0.40 resistance. ADA failed to clear the USD 0.50 resistance zone.
Total market capitalization
After a move above the USD 22,000 level, bitcoin price faced sellers. BTC struggled to clear the USD 22,800 level and started a downside correction below the USD 22,000 level. On the downside, an initial support is near the USD 21,650 level. The next major support is near the USD 21,500 zone, below which the price might drop towards USD 20,500.
An immediate resistance is near the USD 22,200 level. The next major resistance could be USD 22,500, above which the price could even clear the USD 22,800 zone.
According to Joe DiPasquale, CEO of crypto fund manager BitBull Capital, BTC still remains range-bound.
“For now, we remain interested in the bottom of this range when it comes to bitcoin’s price, and are monitoring for accumulation during this range-bound movement. If bitcoin does not break down from this range by the end of the month, especially post the [US Federal Open Market Committee], we could see it as a strong sign of a potential long-term bottom,” he said in an emailed comment.
Ethereum price remained in a strong uptrend above the USD 1,500 level and climbed above USD 1,600 before the bears emerged and pushed the price below USD 1,550. ETH is now supported near the USD 1,500 level and is up almost 5% in a day and 40% in a week. The next major support is near USD 1,450, below which the price could start a stronger correction.
On the upside, the price might face bears near the USD 1,550 level. The next major resistance is at USD 1,600, above which the price could start a fresh increase.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) attempted a move above the USD 0.50 resistance but failed. It is now consolidating just below USD 0.50 and might make another attempt to clear the USD 0.50 zone.
BNB struggled above the USD 265 resistance. It is now consolidating gains near the USD 260 level. If there is a bearish reaction, the price could slide towards the USD 250 level.
Solana (SOL) climbed above the USD 45 resistance and is now up 9% in a day. The next key resistance is near the USD 48 level, above which the price might test the USD 50 zone.
DOGE failed to surpass the USD 0.068 resistance zone. It is now consolidating above the USD 0.0660 level. Any more losses might send the price towards the USD 0.0620 support zone.
XRP price is still consolidating above the USD 0.35 resistance. If it continues to struggle, there is a risk of a drop below USD 0.35. The next major support is near the USD 0.32 level.
Other altcoins market today
Many altcoins are still in the green zone, including DOT, SHIB, UNI, ETC, NEAR, FLOW, MANA, SAND, RUNE, FTM, and KLAT. Out of these, FTM gained 15% and surpassed the USD 0.32 level, becoming the best performer among the top 100 cryptoassets by market capitalization today. It’s also up 34% in a week.
To sum up, bitcoin price is consolidating near the USD 22,000 zone. BTC must surpass the USD 22,500 resistance zone to start a more robust increase.