Bitcoin and Ethereum Trim Gains, AMP Rallies
Bitcoin price spiked above the USD 38,000 level, but it failed to surpass the USD 38,500 resistance. BTC started a downside correction and traded below USD 37,000. It is currently (04:39 UTC) showing a few bearish signs, but the bulls might remain active near USD 36,000.
Besides, most major altcoins are correcting gains. ETH failed to clear USD 2,600 and declined below USD 2,500. XRP/USD made an attempt to surpass USD 0.90, but there was no bullish momentum.
Total market capitalization
Yesterday, bitcoin price climbed above the USD 37,500 and USD 38,000 levels. However, BTC struggled to settle above USD 38,000 and failed to clear USD 38,500. It started a downside correction and traded below USD 37,000. An immediate support is near the USD 36,200 level. The next major support is now forming near the USD 36,000 level. On the upside, the first key resistance is near the USD 37,500 level. The main breakout resistance is now forming near the USD 38,500 level.
Ethereum price also failed to gain strength above USD 2,550. A high was formed near USD 2,600 and it recently started a downside correction. The price declined below the USD 2,500 support level. If there are more losses, the price could test the USD 2,400 level. If there is a fresh increase, the USD 2,500 level might act as a hurdle. The main breakout resistance is now forming near the USD 2,550 level.
BNB, LTC, DOGE, and XRP price
Binance Coin (BNB) topped near the USD 375 level and corrected lower. BNB is now consolidating near the USD 350 level. If there is a downside break below USD 350, the price could test USD 335. The next major support sits near USD 320. On the upside, an immediate resistance is near the USD 365 level.Litecoin (LTC) is holding gains above the USD 165 support level. An initial resistance is near the USD 180 level. If there is a clear break above USD 180, the price could rise towards the USD 200 level. If not, it could slide towards the USD 150 support.Dogecoin (DOGE) is consolidating near the USD 0.320 support level. If there are more losses, the bulls might appear near USD 0.305 and USD 0.300. On the upside, the USD 0.335 level is a short-term resistance. The main resistance is near the USD 0.350 level.XRP price struggled to clear the USD 0.900 resistance. As a result, there was a downside correction below the USD 0.880 support. It is holding the USD 0.850 support, below which there is a risk of a drop towards the USD 0.820 level.
Other altcoins market today
Many altcoins declined over 5%, including SNX, ICP, TFUEL, RUNE, BTG, ZEC, GRT, CRV, COMP, QTUM, SUSHI, CAKE, LINK, OMG, and RVN. Conversely, AMP rallied over 30% while CHZ and WRX gained 17%.
Overall, bitcoin price is correcting gains below USD 37,000. If BTC remains stable above USD 35,500, it could start a fresh increase above USD 37,500. Conversely, it could drop to USD 33,500. _____