Bitcoin and Ethereum Dip Towards Key Support, XMR and NEAR Gain
Bitcoin price started a downside correction from the USD 44,400 resistance.Ethereum failed to surpass USD 3,400, XRP corrected below USD 0.780.XMR and NEAR gained over 8%.
Bitcoin price made another attempt to gain pace above USD 44,000. BTC formed a high near USD 44,400 and started a downside correction. It is currently (04:18 UTC) trading near USD 42,800, with a key support at USD 42,000.
Similarly, most major altcoins are correcting gains. ETH retreated lower from the USD 3,400 resistance zone. XRP declined below the USD 0.780 support zone. ADA is down almost 5% and traded below the USD 1.265 support zone.
Total market capitalization
After a break above USD 44,000, bitcoin price faced sellers near the USD 44,400 zone. BTC failed to continue higher and started a downside correction. There was a break below the USD 43,200 and USD 43,000 support levels. The next key support is near USD 42,000, below which the price might struggle to start a fresh increase in the near term.
If it recovers, an immediate resistance is near the USD 43,000 level. The next major resistance is near USD 43,200, above which the price might start a move towards the USD 44,400 zone again.
Ethereum price also attempted a clear move above the USD 3,400 level. However, ETH struggled to continue higher and corrected below USD 3,320. The price is consolidating near USD 3,280. An initial support is near the USD 3,220 level. The next major support is near USD 3,200, below which the price might test USD 3,120.
On the upside, an immediate resistance is near USD 3,300. The next key resistance is near USD 3,380, above which the price might gain bullish momentum.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) failed to stay above the USD 1.30 level and started a downside correction. ADA traded below the USD 1.28 and USD 1.265 support levels. If there are more losses, the price might test USD 1.22.
Binance coin (BNB) is still consolidating near the USD 480 level. An immediate resistance is near USD 488, above which the price might test USD 500. If not, there could be a move towards the USD 465 support.
Solana (SOL) corrected lower from the USD 158 level. It is trading below USD 150 and approaching USD 145. The next major support is near the USD 138 level.
DOGE gained pace above the USD 0.172 level. It is up 6% and trading near the USD 0.175 level. The next major resistance is near the USD 0.180 level, above which the price could rise towards the USD 0.192 level.
XRP price corrected lower from the USD 0.80 zone. It is moving lower and trading below USD 0.78. An immediate support is near the USD 0.75 level, below which the bears might push the price to USD 0.72.
Other altcoins market today
A few altcoins are up over 5%, including SCRT, XMR, NEAR, HEX, KSM, CRV, and ONE. Out of these, SCRT rallied 15% and there was a break above the USD 7.5 level. Meanwhile, XMR jumped 9%, surpassing USD 221 and increasing its weekly gains to also 9%. NEAR is now up almost 20% in a week as it gained 8% in a day and surpassed USD 19.
Overall, bitcoin price is correcting gains from the USD 44,400 zone. If BTC remains stable above USD 42,000, it could start a fresh increase in the near term.