- Bitcoin price is holding the key support at $22,500.
- Ethereum is below $1,500, XRP is consolidating near $0.35.
- SOL and ADA are trading near key support areas.
Bitcoin price started a downward correction from the $24,200 area and peaked below $23,000. It is currently trading (11:20 UTC) at nearly $22,600 and is down almost 5% in one day and up 12% in one week.
Likewise, most major altcoins are trading above key support areas. ETH remained above the $1,450 support. XRP is consolidating near resistance-turned-support at $0.35. ADA needs to stay above $0.48 to climb again.
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bitcoin price
After a bearish break below USD 23,500, bitcoin price prolonged losses. However, the bulls defended the USD 22,500 level. The price is now trading in a range and could still exceed USD 23,000. An immediate resistance is near the USD 23,200 level. The next major resistance may be at $23,500, above which the price may start rising again.
Otherwise, the price might decline further and trade below the support at $22,500. The next major support is near the $22,000 area, below which the price may retrace to $21,200.
Ether price
Ether price prolonged losses below the $1,500 support. ETH even climbed below $1,460 but remained above $1,450 and moved towards $1,490. ETH is down 7% in one day and up 34% in one week. On the upside, the price may face sellers near $1,520. The next major resistance is seen at $1550, above which the price may perhaps revisit $1600.
On the downside, the $1,450 level is a key support. A break down below $1,450 could push the price towards $1,320.
ADA, BNB, SOL, DOGE and XRP prices
Gimbal (ADA) declined and settled below $0.50. It is now consolidating near $0.48, below which the price could test $0.465. The next major support is near $0.45.
BNB refused and tested support for 250 USD. It could start a new rise towards $265 if it stays above $250. Conversely, there could be a drop towards 235 USD.
Solana (SOL) tested the $40 support level. If there is a drop below the $40 support, the price could drop towards the $38 support area. However, it could rise further and see 45 USD again.
DOGE fell below the $0.0700 support. It is now consolidating near $0.0680, below which the price may drop towards the $0.065 support. On the upside, $0.070 is a breakout zone.
XRP Price is now consolidating near the $0.35 level. A break down could send it towards USD 0.332. If not, there might be a further move towards $0.388.
Market of other altcoins today
Many altcoins are in the red zone, including DOT, MATIC, AVAX, SHIB, TRX, UNI, CRO, LINK, ETC, XLM, NEAR, FLOW, and APE. Of these, APE fell more than 10% and traded below USD 5.8.
In summary, bitcoin price is consolidating above the key support at $22,500. If BTC fails to stay above $22,500, there is a steeper downside risk.
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