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Bitcoin and Ethereum stuck in a range, DOGE and XRP rise

Bitcoin and Ethereum stuck in a range, DOGE and XRP rise

  • The price of Bitcoin is stuck in a range below the $40,500 level.
  • Ethereum still below $3,050, XRP up over 7%.
  • DOGE rose 2% and there was a move above $0.145.

The price of Bitcoin is still trying to overcome the $40,800 resistance level as BTC is stuck in a range around $40,000. It is currently (04:48 UTC) showing bearish signs with important support at $39,500.

Likewise, most of the major altcoins are also near important support levels. ETH should stay above $2980 and $2950. XRP gained over 7% and there was a move above the $0.765 resistance. ADA consolidates around $0.95.

Total market capitalization

Source: tradingview.com

bitcoin price

After the bearish reaction, the price of Bitcoin fell below the $40,000 support zone. BTC even tested the $39,500 support zone before bouncing back. It is now stuck in a range around the $40,000 level and is down 2% on the day. The first major support is near the $39,500 level. The next big support is around $39,200. A close below $39,200 could increase pressure on the bulls.

Immediate resistance on the upside is near the $40,800 level. The next key resistance is now forming near the $41,200 level, above which the price could potentially accelerate.

Ethereum price

Ethereum price followed a bearish path and there was a surge below the $3,000 level. However, the downsides were limited and the price remained consistently above $2,950. The next major support is near the $2920 level, below which the price may continue to decline. ETH is currently hovering just above $3,000 and is down almost 2% on the day.

On the other hand, initial resistance is found around $3,080. The next key resistance could be near the $3,120 level, above which the price could rise above $3,150.

Price of ADA, BNB, SOL, DOGE and XRP

Cardano (ADA) struggled to clear the $0.965 resistance zone. It is now consolidating around the $0.950 pivot level. The next major support is near $0.920, below which the $0.90 level could be tested.

BNB is facing resistance near the $420 level. Key resistance is near $425, above which the price could get bullish momentum. BNB hasn’t changed in a day.

Solana (SOL) fell below $100 before recovering. It is currently stuck in a range around $100. On the other hand, the bears may remain active near the $105 level. The next key resistance lies near the $112 level.

DOGE up more than 2% and trading above the $0.148 level. The main resistance lies near the $0.150 level, above which the price could potentially rise to the $0.155 level.

Price XRP increased by more than 7% and rose above the level of 0.78 US dollars. The key hurdle is near the $0.80 level. A close above $0.80 could set the pace for stronger gains.

Other altcoins today

Many altcoins are still in the red, including LUNA, AVAX, NEAR, ZIL, CRO, ATOM, ETC, APE, THETA, FTM, RUNE and WAVES. Of these, ZIL tops the top 100 cryptocurrencies by market capitalization today as it fell 8% to $0.11.

To summarize, the price of Bitcoin is still trading below the $41,500 level. If BTC gains momentum, there could be a steady rise in the near term.

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