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Bitcoin Consolidates, Ethereum and Altcoins Extend Gains

Bitcoin Consolidates, Ethereum and Altcoins Extend Gains

Bitcoin price remained well bid above the USD 33,500 and USD 34,000 levels. However, BTC is still struggling to settle above the main USD 35,000 resistance zone. It is currently (04:35 UTC) consolidating below USD 35,000, while many altcoins are gaining pace.

Besides, most major altcoins are showing positive signs. ETH gained pace above the USD 2,050 and USD 2,100 resistance levels. XRP/USD is facing a strong selling interest near USD 0.65 and USD 0.66.

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Bitcoin price

After a steady increase, bitcoin price made an attempt to settle above the key USD 35,000 resistance. However, the bulls failed to gain strength, resulting in a minor downside correction below USD 34,500. The price is now consolidating gains above USD 34,000. The first major support is near the USD 33,500 level, below which the price might test USD 32,200. The main breakout resistance is still near the USD 35,000 level. A close above USD 35,000 could open the doors for a strong increase in the coming sessions.

Ethereum price

Ethereum price outperformed bitcoin and it climbed above USD 2,000. It even climbed above USD 2,100, but the bears defended USD 2,150. It is now consolidating near USD 2,100. An initial support is near the USD 2,050 level, below which the price might test USD 2,000. If there are more gains, the price might clear the USD 2,150 resistance. In this case, the price might rise towards the USD 2,250 level.

BNB, LTC, DOGE, and XRP price

Binance Coin (BNB) climbed higher and it tested the USD 300 resistance. BNB is now consolidating gains near USD 300 and it might correct lower. The main support on the downside is near the USD 280 level. Conversely, the price might rise further if it settles above USD 300.Litecoin (LTC) extended its upward move above the USD 135 resistance. However, the bulls struggled near the USD 142 resistance. If there is a downside correction, the price might find strong bids near USD 132 and USD 130. On the upside, the USD 142 is a decent barrier, followed by USD 150.Dogecoin (DOGE) is still consolidating near the USD 0.250 level. An initial resistance is near the USD 0.265 level. If the bulls succeed in clearing USD 0.265, the next major stop could be near the USD 0.300 level. An intermediate resistance may possibly be near USD 0.280. XRP price spiked above the USD 0.65 resistance, but there was no follow through. It failed near USD 0.66 and it is now consolidating near USD 0.64. If there is a fresh decline, the price could test USD 0.62. The main breakdown support is now forming near the USD 0.60 level.

Other altcoins market today

Many altcoins gained over 10%, including KSM, COMP, BSV, ZIL, AAVE, BTT, EGLD, NEO, LEO, ZEC, SNX, ATOM, ANKR, and CEL. Out of these, KSM rallied over 30% and it cleared the USD 230 level.

Overall, bitcoin price is still facing a strong resistance near the USD 35,000 level. If BTC continues to struggle near USD 35,000, there is a risk of another bearish reaction towards USD 32,200. _____

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Bitcoin Consolidates, Ethereum and Altcoins Extend Gains

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