Bitcoin and Ethereum Consolidate Below Key Hurdles, LUNA Pauses
- Bitcoin price is facing a key resistance near USD 41,200.
- Ethereum might struggle near USD 3,120, XRP is well below USD 0.80.
- LUNA and SOL are showing bullish signs.
Bitcoin price started an upside correction above the USD 40,000 level. BTC even climbed above USD 40,500, but it failed to gain pace above USD 41,200. It is currently (12:09 PM UTC) consolidating near USD 40,800 and might attempt an upside break above USD 41,200.
Similarly, most major altcoins are facing important hurdles. ETH might face a strong selling interest near USD 3,120. XRP is trading well below the USD 0.80 resistance while ADA is approaching the USD 0.95 resistance zone.
Total market capitalization
Recently, bitcoin price saw a decent upward move above the USD 40,000 level. BTC even cleared the USD 40,500 resistance. However, it is facing a strong resistance near the USD 41,200 level. BTC is up over 4% in a day and almost 3% in a week. The next key resistance is near the USD 41,500 level, above which the price could accelerate higher.
If there is no upside break above USD 41,200 or USD 41,500, the price might decline. On the downside, an initial support is near the USD 40,200 level. The next major support is near USD 40,000, below which the price might retest USD 39,200.
Ethereum price gained pace and settled above the USD 3,000 level. ETH is consolidating near the USD 3,050 level and is up over 4% in a day and almost 2% in a week. An immediate resistance is near the USD 3,080 level. The next key resistance is still near the USD 3,120 level, above which the price could accelerate higher towards USD 3,250.
If there is a downside correction, the price might find support near USD 3,000. The next major support is near the USD 2,950 level, where the bulls might take a stand.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) is up almost 5% and is approaching the USD 0.95 resistance, above which the price may perhaps start a steady increase. ADA also erased all its weekly losses and is now up almost 1% in the past seven days.
BNB gained pace and was able to clear the USD 420 resistance. It may soon test the USD 425 resistance. If the bulls remain in action, the price could rise towards the USD 432 level in the near term.
Solana (SOL) is up 6% and there was a move above the USD 102 level. The bulls could attempt a move above the USD 105 level. The main resistance on the upside is near the USD 110 level.
DOGE is back above the USD 0.140 level. An immediate resistance is near the USD 0.142 level. The next major hurdle is near the USD 0.145 level. If there is a fresh decline, the price might test USD 0.135.
XRP price is currently consolidating near the USD 0.765 level. An immediate resistance is near the USD 0.780 level. The main barrier is still near the USD 0.80 level.
Other altcoins market today
Many altcoins are showing positive signs, including LUNA, AVAX, DOT, SHIB, NEAR, MATIC, LTC, ATOM, XLM, THETA, RUNE, and BCH. Out of these, LUNA surged above the USD 90 level as it jumped 12% in a day. After almost reaching USD 92 earlier today, LUNA trimmed some of its gains nearing USD 90 again.
To sum up, bitcoin is consolidating below the USD 41,200 and USD 41,500 resistance levels. If BTC fails to clear USD 41,500, there is a risk of a fresh decline to USD 39,500.