Bitcoin and Ethereum Struggle, ADA and XRP Rally
Bitcoin price failed to settle above the USD 46,500 resistance level. BTC is correcting gains and it is trading below the USD 46,000 level. It is currently (03:43 UTC) still above USD 45,500, but there are chances of a downside correction.
While most major altcoins are showing positive signs, ETH is facing resistance near USD 3,200. XRP gained 8% and it broke the USD 0.865 resistance.
Total market capitalization
After a failed attempt near USD 46,500, bitcoin price corrected lower. BTC traded below USD 46,000, but the bulls are still protecting the USD 45,000 support zone. If there are more downsides, the price might test the USD 44,500 support zone. The next major support on the downside could be USD 43,500.
On the upside, the first key resistance is near the USD 46,000 level. The main resistance is still near USD 46,500, above which the bulls might gain strength.
Ethereum price is also struggling to clear the USD 3,200 resistance zone. If ETH clears this barrier, there could be a stronger increase. In this case, the price might rally towards the USD 3,350 level.
On the downside, an immediate support is near the USD 3,110 level. The next major support is near the USD 3,050 level, below which the price might retest USD 3,000.
ADA, LTC, DOGE, and XRP price
Cardano (ADA) outperformed bitcoin, ethereum and rallied by 17%. ADA broke the USD 1.60 and USD 1.70 resistance levels. If the bulls remain in action, there are chances of a move towards the USD 1.80 level. If there is a downside correction, the price might find support near USD 1.60.
Litecoin (LTC) is trading comfortably above the USD 160 and USD 162 levels. An immediate resistance is near USD 165. Any more gains might push the price towards the USD 180 resistance. On the downside, the price might find a strong buying interest near the USD 155 and USD 150 levels.
Dogecoin (DOGE) is showing positive signs above the USD 0.250 level. An immediate hurdle is near the USD 0.265 level. The main resistance on the upside is near the USD 0.300 level, where the bears might appear. If there is a downside correction, DOGE might find support near USD 0.220.
XRP price is also gaining pace above the USD 0.850 resistance. It even surpassed USD 0.865 and it might continue to rise towards USD 0.900. Any more gains could set the pace for a test of the USD 1.00 hurdle in the near term.
Other altcoins market today
A few altcoins gained over 10%, including AXS, HNT, RVN, LUNA, ICP, KSM, FLOW, HOT, and CRV. Out of these, AXS rallied 58% and it broke the USD 70 level.
Overall, bitcoin price is still trading above the USD 45,000 and USD 44,500 support levels. However, BTC must settle above USD 46,000 and then gain traction above USD 46,500 for upside continuation.