Bitcoin and Ethereum Prepare For Next Move
- Bitcoin price is struggling to gain momentum for a move to USD 70,000.
- Ethereum is still well below USD 5,000, XRP is consolidating near USD 1.25.
- LRC and IOTX rallied over 50%.
Bitcoin price started a downside correction below USD 67,000. BTC even declined below USD 66,500 but remained stable above USD 66,000. It is currently (11:30 UTC) consolidating and it might start a fresh increase if there is a clear break above USD 67,500.
At the same time, most major altcoins are preparing for the next move. ETH is consolidating above USD 4,700, with a major hurdle near USD 4,820. XRP is also facing resistance near USD 1.265. ADA is holding gains above the USD 2.20 support zone.
Total market capitalization
After a downside correction, the bitcoin price found support near USD 66,250. It remained stable and seems to be preparing for the next move. An immediate resistance on the upside is near the USD 67,500 level. The next key resistance is forming near the USD 68,000 level, above which the price could rise towards the USD 70,000 level.
If not, there is a risk of more losses below USD 66,250. An immediate support is near the USD 66,000 level. The next key support is near the USD 65,500 level, below which the bears might gain strength.
Ethereum’s price is stable above the USD 4,700 level. However, ETH is struggling to gain strength for a move above the USD 4,800 level. The next major resistance sits near the USD 4,820 level, above which there are chances of a move towards the USD 5,000 level.
On the downside, the USD 4,650 level is a major support. A downside break below USD 4,650 could send the price towards the USD 4,500 level in the near term.
ADA, BNB, SHIB, SOL, and XRP price
Cardano (ADA) gained pace above USD 2.30, but it failed to test USD 2.50. It is slowly moving lower and trading below USD 2.20. If there are additional losses, the bulls might take a stand near the USD 2.12 level in the near term.
Binance Coin (BNB) is again attempting a clear move above USD 550 and USD 555. A close above USD 555 may perhaps open the doors for more gains. In the stated case, the price could rise towards the USD 580 level.
SHIB is struggling to settle above the USD 0.0000550 zone. The next major resistance is near USD 0.0000565, above which the price may perhaps rise towards the USD 0.0000600 level. Conversely, there might be a downside break towards the USD 0.0000520 level.
Solana (SOL) is facing resistance near the USD 250 level. If it stays below USD 250 for a long time, there could be a drop towards the USD 225 and USD 220 support levels. On the upside, the price might rally towards USD 280 if it clears USD 250.
XRP price slowly moved below the USD 1.250 level. An initial support is near the USD 1.232 level. Any more losses might lead the price towards USD 1.22. On the upside, the USD 1.25 level is a short-term barrier for the bulls.
Other altcoins market today
A few altcoins are up over 5%, including LRC, IOTX, KDA, QNT, NEAR, LTC, CHZ, and ZEX. Out of these, LRC rallied over 50% and it broke the USD 3.20 level.
To sum up, the bitcoin price is still above USD 66,000. To start a fresh increase, BTC must settle above USD 67,500 and then clear USD 68,000.