- The bitcoin price fell back below $20,000.
- Ethereum holds support at $1,100, XRP is stuck below $0.335.
- All of the top performers cut their earnings today.
Bitcoin price struggled to clear the $20,500 resistance zone and fell back below $20,000. It is currently trading (11:50 UTC) at nearly $19,700 and is virtually unchanged in a day and down 5% in a week.
Likewise, most of the major altcoins also correct gains. ETH tested $1,175 but could now see $1,100 again. XRP consolidates near $0.32. ADA is stable near the $0.45 level.
Total market capitalization
After a close above USD 20,000, bitcoin price tested the $20,500 resistance zone. BTC failed to extend its gains and corrected below the USD 19,800 level. On the downside, an initial support is near the USD 19,500 level. The next major support is near the $19,200 area, below which the price may accelerate lower.
If there is a further rise, the price might break through the resistance at $20,000. The next major resistance is now near $20,500, above which BTC could gain bullish momentum.
Ether price broke above the $1150 level but failed to break through the $1170 and $1180 resistance levels. It is now correcting gains near $1,120 but is still up almost 4% in one day and down 6% in one week. The next major support is near $1100, below which the price may test the $1060 support zone.
On the upside, the price is facing resistance near the $1150 level. The next major resistance is near $1,180, above which the price may initiate a stronger rise in the near term.
ADA, BNB, SOL, DOGE and XRP prices
Gimbal (ADA) Still consolidating near the $0.45 level. If there is a break on the downside, the price could test the support at $0.42. Conversely, it could attempt a breakout towards USD 0.50 or even USD 0.52.
BNB tested the $235 resistance zone and failed to continue higher. There was a downward correction and the price traded below $230. The next major support is near the $220 level.
Solana (SOL) failed to stay above the $35 resistance zone. It is moving lower and trading near the $34.50 level. If there are more losses, the price could dip towards the $32 support area.
DOGE spiked above the $0.068 resistance zone, but there was no further upside. The bears appeared near $0.070 and the price is now correcting the gains. On the downside, there is major support near the $0.065 level.
XRP Price continues to consolidate near the $0.320 area. An immediate resistance is near $0.335. The main upside resistance is still near the $0.35 area.
Market of other altcoins today
Despite their reduced gains, a few altcoins rose more than 3%, including MATIC, UNI, ATOM, SAND, BAT, LRC, GMT, and ENJ. GMT is up 7% and trading near $0.89. CEL, the former top 100 coin performer, fell to $0.92, wiping out almost all of its daily gains.
To sum up, bitcoin price corrects gains below $20,000. BTC needs to stay above USD 19,500 to avoid a short-term downside break.