Bitcoin corrects profits, Ethereum stable, Altcoins looking for direction

  • Bitcoin corrects gains near $ 54,000.
  • Ethereum is stable above $ 3,500, with XRP slipping below $ 1.08.
  • SHIB increased 48% and FTM increased over 30%.

Bitcoin price extended its upward move above the $ 55,000 level before correcting downward. BTC is currently trading near $ 54,000 (13:08 UTC) but it could remain relatively stable unless it breaks below $ 53,200.

By now, most of the major altcoins are looking for a direction. ETH is back above USD 3,500 and could accelerate towards USD 3,700. XRP fell back below $ 1.08 while ADA corrected towards $ 2.30.

Total market capitalization

Source: https://www.tradingview.com

Bitcoin price

After a significant breakthrough above $ 55,000, Bitcoin price failed to test the $ 56,000 level. BTC tested the USD 55,750 zone before correcting down. The price is now trading at $ 54,000 with an important support at $ 53,500. The main roadside assistance is now forming near the USD 53,200 mark. Further downtrends could set the pace for a move towards the $ 50,000 mark.

On the flip side, the price is encountering resistance near USD 55,000, above which BTC could continue its upward trend.

Ethereum price

Ethereum price started spiking again after a slight downward revision below $ 3,500. ETH is back above that level and if there is a closing price above $ 3,600 and $ 3,620 there could be more gains. The next major resistance is now at $ 3,700.

On the flip side, immediate support is near the $ 3,500 mark. The next big support is at $ 3,450, below which the price could test $ 3,400.

ADA, LTC, DOGE and XRP prices

Cardano (ADA) broke the USD 2.25 resistance level. The price also surpassed the $ 2.30 mark. If it breaks the $ 2.32 mark, the price could move towards $ 2.40. The next major resistance is near the $ 2.50 level.

Litecoin (LTC) is now unchanged in one day trading above the major USD 175 resistance while the bulls may attempt to break above the USD 188 resistance. If they succeed, the price could rise towards USD 200.

Dogecoin (DOGE) is showing positive signs above the USD 0.250 level but is still down 4% in one day. It is now facing resistance near the USD 0.265 level. A closing price above $ 0.265 could set the pace for a larger move. The next big barrier is near the $ 0.280 mark.

The XRP price is showing positive signs above the $ 1.05 level. Attempts are made to break above the $ 1.08 and $ 1.10 levels. A successful close above $ 1.10 could set the pace for a bigger move. In this case, the price could rise towards $ 1.20.

Different Altcoins Market Today

Many altcoins are up over 8%, including SHIB, FTM, AR, BTG, BSV, XLM, DOT, DASH, KSM, NEAR, LUNA, OKB and BCH. Of these, SHIB is still rising and is up 48%.

In conclusion, the Bitcoin price corrects gains below $ 55,000. However, BTC could stay stable near $ 53,200 and begin a new spike.

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