Bitcoin and Ethereum Struggle Near Resistance Zone, XRP Rallies

Bitcoin and Ethereum Struggle Near Resistance Zone, XRP Rallies

 

  • Bitcoin price is still struggling to clear the USD 50,000 resistance.
  • Ethereum is facing sellers near 4,400, XRP surged over 11% and cleared USD 0.90.
  • LUNA gained over 7% and surpassed the USD 71 level.

Bitcoin price attempted an upside break above the USD 50,000 resistance but failed. BTC is currently (11:57 UTC) trading near USD 49,200. If the bulls lose control, there is a risk of a sharp decline towards the USD 47,500 support.

Most major altcoins are trading in a positive zone. ETH struggled to clear the USD 4,400 resistance and corrected lower but is still up 1% in a day. XRP is up over 11% and there was a break above the USD 0.90 resistance. ADA could gain pace if it clears USD 1.365.

Total market capitalization
 

Source: tradingview.com

Bitcoin price

After a failure near USD 50,000, bitcoin price corrected lower. BTC declined below the USD 49,500 support level. There was a move below the USD 49,200 level. The next major support is near the USD 48,500 level, below which the price could test USD 47,500. Any more losses may perhaps lead the price towards the USD 46,500 level.

On the upside, the USD 50,000 level is a major barrier for the bulls. A close above USD 50,000 may perhaps start a steady increase. 

Ethereum price

Ethereum price failed to clear the USD 4,400 and USD 4,420 resistance levels. ETH is trimming gains and trading below USD 4,350. The next key support is near the USD 4,250 level, below which there is also a risk of a move below the USD 4,200 level.

On the upside, the price is facing resistance near the USD 4,400 level. If there is a close above USD 4,400, the price could rise towards the USD 4,550 level.

ADA, BNB, SOL, SHIB, and XRP price

Cardano (ADA) is consolidating near the USD 1.35 level. An immediate resistance is near the USD 1.365 level. A move above USD 1.365 could lift the price towards the USD 1.38 resistance. The next major resistance is near the USD 1.40 level.

Binance coin (BNB) traded above the USD 600 level. It even spiked above USD 612, but there was no upside continuation, and the price corrected below USD 600 again. If there is a downside break below USD 585, the price might decline towards the USD 565 level.

Solana (SOL) is trading well above the USD 180 level and is rising towards the USD 192 level. The main resistance is near USD 200. A close above USD 200 may possibly send the price higher.

SHIB is consolidating above the USD 0.0000355 level. An initial resistance is near the USD 0.0000370 level. The next major resistance is near the USD 0.000038 zone, above which the price might revisit the USD 0.000040 level.

XRP price gained over 11% and even cleared the USD 0.880 resistance zone. It even surpassed the USD 0.90 level and it seems like there could be a move towards the USD 0.950 level. The next key resistance is near the USD 1.00 level.

Other altcoins market today

Many altcoins are up over 8%, including WAXP, NEAR, GALA, IOTX, CELO, HT, LUNA, AUDIO, KDA, and LRC. Out of these, NEAR and GALA rallied around 18%. Meanwhile, BTT keeps trimming its gains and is now down almost 11% in a day, but is still up by 10% in a week.

To sum up, bitcoin price is facing an uphill task near the USD 50,000 level. A close above USD 50,000 could start a stronger increase in the coming sessions.

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Originally Posted on: https://cryptonews.com/news/bitcoin-and-ethereum-struggle-near-resistance-zone-xrp-rallies.htm
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