- Bitcoin price is once again eyeing an upside break above USD 20,500.
- Ethereum is facing resistance near USD 1,620, XRP might climb above USD 0.335.
- NEXO is the best performer today.
Bitcoin price once again recovered after dropping below USD 20,000 yesterday and is currently (03:52 UTC) trading above USD 20,400 and eyeing more gains. BTC is now almost unchanged in a day and down 5% in a week.
Similarly, most major altcoins might move higher. ETH recovered above USD 1,600 and is now facing resistance near USD 1,620. XRP must clear USD 0.335 and USD 0.350 to continue higher. ADA is consolidating above the USD 0.45 level.
Total market capitalization
Yesterday, bitcoin price traded below the USD 20,000 level but remained well bid above USD 19,500. It is now back above USD 20,000 and is facing an immediate resistance near the USD 20,500 level. A clear move above USD 20,500 might set the pace for additional gains. The next major resistance is near USD 21,200, above which the price might test USD 21,500.
On the downside, an initial support is near the USD 20,000 level. The next key support is still near the USD 19,500 zone, below which the price could gain bearish momentum.
Similarly to BTC, ethereum price dived below USD 1,550, but the bulls were active near USD 1,480. There was a fresh increase and the price climbed above the USD 1,600 level. ETH is up 4% in a day and down 3% in a week. The next key resistance is near the USD 1,620 level, above which the price could rise towards the USD 1,650 resistance zone.
On the downside, an initial support is now near the USD 1,550 level. The next major support is USD 1,480, below which price could test the USD 1,420 zone.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) is consolidating above the USD 0.45 support. An immediate hurdle is near the USD 0.475, above which the price may rise towards the USD 0.50 resistance zone.
BNB is struggling to clear the USD 292 resistance. The next hurdle is near the USD 295 level, above which the bulls could attempt a push towards the USD 305 level.
Solana (SOL) is consolidating above the USD 32 support. The first resistance is near USD 33.50, above which it could rise to USD 35. If not, it might drop towards the USD 30 support.
DOGE is holding the USD 0.0620 support zone. It seems like the bears are active near the USD 0.0640 and USD 0.065 levels. A clear move above USD 0.065 might spark a sharper increase.
XRP price is consolidating near the USD 0.33 zone. The first major resistance is USD 0.335, above which it could rise towards the USD 0.35 level.
Other altcoins market today
A few altcoins are moving higher, including MATIC, TRX, AVAX, LEO, UNI, ETC, ATOM, NEAR, FLOW, and AXS. Meanwhile, following a buyback announcement, NEXO jumped 13% in a day, becoming the best performer among the top 100 coins by market capitalization today. It’s also up 15% in a week. LDO also keeps moving higher and is up 12% in a day, trading near USD 2.10.
Overall, bitcoin price is showing positive signs above the USD 20,000 level. If BTC clears the USD 20,500 resistance, it could start a stronger increase in the near term.