Bitcoin price failed to break the USD 58,500 resistance zone and began falling again. BTC was below the USD 58,000 level and is currently (04:30 UTC) consolidating above USD 57,000. The main weekly support is at $ 56,500, below which the price could drop in the short term.
Most of the major altcoins trade in a positive zone. ETH holds gains above the USD 2,000 and USD 1,980 support levels. The XRP / USD gained 18% and even tested the USD 0.700 level.
Total market capitalization
Source: www.tradingview.com
Bitcoin price
Bitcoin price corrected lower after a failed attempt to settle above USD 58,500. BTC traded below the USD 57,200 support level but found support near USD 56,500. On the upside, the price faces strong resistance near USD 58,000 and USD 58,500. The main weekly resistance is at $ 60,000.
On the flip side, the bulls have to protect USD 56,500. If not, there is a risk of falling towards the USD 55,000 and USD 54,500 support levels.
Ethereum price
Ethereum price outperformed Bitcoin and even hit a new all-time high above USD 2,100 before correcting downward. ETH is trading below USD 2,050 but it appears strong support is forming near the USD 2,000 and USD 1,980 levels.
If there is a downside break below USD 1,980, the price could fall towards USD 1,850. On the upside, the price could be further higher if it is above USD 2,100.
BNB, ADA, Litecoin and XRP prices
Binance Coin (BNB) is consolidating gains above the USD 340 level. Immediate resistance is near the USD 350 and USD 355 levels. If there is a significant break above the USD 355, the price could steadily move towards the USD levels 380 and USD 400 rise. On the downside, the USD 325 level is strong support for this week.
Cardano (ADA) is still below the USD 1,200 and USD 1,220 resistance levels. A closing price above USD 1.220 is required to start a sharp rise. On the flip side, the bulls could remain active near USD 1.165 and USD 1.150.
Litecoin (LTC) now forms a support base above the USD 200 support zone. If the LTC stays stable above USD 200 and USD 195, it could lead to a sharp spike in the upcoming sessions. In that case, the bulls could test USD 245 or even USD 250.
XRP price outperformed Bitcoin and ETH after breaking the main resistance at USD 0.600. There was a sharp spike and the price even tested USD 0.700. The current price movement is positive and it appears that the price could continue to climb above USD 0.700 and USD 0.715 in the coming days.
Other altcoin market today
Many altcoins gained over 10%, including WRX, BTT, TRX, SC, OMG, ZIL, BTMX, DASH, DENT, EOS, QTUM, FLOW, CEL, DGB and XLM. Of these, BTT recovered by over 80% and even hit the USD 0.012 level.
Overall, Bitcoin price is struggling at USD 58,500 and is now trading well below USD 60,000. However, there are many major downside supports such as USD 56,500 and USD 55,000.
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