Bitcoin price failed to climb above the USD 55,000 level. As a result, there were more downsides in BTC below the USD 53,250 support. It tested the USD 52,400 zone and it is currently (04:40 UTC) attempting a recovery above USD 54,000.
Besides, most major altcoins are consolidating in a range. ETH extended its rally to USD 2,800 before it corrected lower. XRP/USD reached the USD 1.42 resistance zone, while BNB gained pace above the USD 580 resistance and it even cleared USD 600.
Total market capitalization
After a close below USD 54,000, bitcoin price extended its decline. BTC even broke the USD 53,250 support level. However, the bulls protected losses below USD 52,350. The price is now recovering and it is trading above the USD 54,000 level. The first key resistance is near the USD 54,200 level, followed by USD 55,000.
Conversely, the price could resume its decline below the USD 53,000 level. The next major support is at USD 52,000, below which the price could test USD 50,000.
Ethereum price remained elevated above the USD 2,700 level. ETH/USD extended its rally and it traded to a new all-time near USD 2,800. It is now correcting lower, but dips might remain supported near USD 2,720 and USD 2,700.
On the upside, an immediate resistance is near the USD 2,775 and USD 2,800 levels. A successful close above USD 2,800 might call for another increase.
BNB, ADA, DOGE, and XRP price
Binance Coin (BNB) gained pace above the USD 580 and USD 585 resistance levels. BNB even broke USD 600 and it is now showing positive signs. The next key resistance is near the USD 620 level and it might accelerate higher towards the USD 650 level.
Cardano (ADA) is showing positive above the USD 1.305 and USD 1.300 support levels. ADA is testing USD 1.320 and it is preparing for a move towards the USD 1.35 level. Any more gains could set the pace for a test of the USD 1.40 level.
Dogecoin (DOGE) is almost unchanged and is trading well above the USD 0.30 level. If DOGE clears the USD 0.32 resistance, the bulls might test the USD 0.35 level.
XRP price failed to stay above the USD 1.40 level and it extended its downside correction. It tested the USD 1.38 support before moving higher again to USD 1.42. On the upside, the first key resistance is at USD 1.45. If the bears remain active, there is a risk of a drop towards the USD 1.35 support level.
Other altcoins market today
A few altcoins gained over 5%, including FTM, 1INCH, CAKE, ICX, UNI, and MANA. Conversely, VGX, IOST, WAVES, ONE, DGB, HNT, and SC are down over 5%.
Overall, bitcoin is trying to move higher again after it corrected gains and moved well below USD 55,000. However, BTC might still revisit USD 53,250, below which the bears might gain strength in the short-term.