Bitcoin and Ethereum Trade in Contracting Range, ETC Trims Gains, CELO Accelerates – Cryptonews
Bitcoin price attempted a fresh increase above the USD 30,000 level. However, BTC struggled to clear the range resistance near USD 30,300 and USD 30,500. It is currently (12:00 PM UTC) trading near USD 29,400 and is almost unchanged in a day and down over 2% in a week.
Similarly, most major altcoins are trading in a key range. ETH failed to stay above USD 2,000 and corrected lower. XRP could extend losses below the USD 0.40 support. ADA is holding gains above the USD 0.50 support.
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After a steady increase, bitcoin price settled above USD 30,000. However, BTC struggled to clear the key USD 30,300 and USD 30,500 resistance levels and moved back below USD 30,000. After breaching the USD 29,500 support, the next major support is near the USD 29,200 level. Any more losses could send the price towards the range support at USD 28,500.
On the upside, the first key resistance is near USD 30,300. The next key resistance is near the USD 30,500 level, above which the price could start a stronger increase.
Ethereum price attempted a fresh increase above the USD 2,000 resistance. However, ETH failed to clear the USD 2,020 resistance zone. It is back below USD 2,000 and is testing USD 1,950. ETH is down more than 1% in a day and 6% in a week. The next key support is near the USD 1,920 level, below which the price could gain bearish momentum.
On the upside, the bears might remain active near USD 2,000. The next major resistance is near USD 2,020, above which the price could rise towards the USD 2,080 resistance.
Cardano (ADA) failed to rise towards the USD 0.55 resistance zone. It is back below USD 0.532 and might decline towards the USD 0.50 support. Any more losses could initiate a stronger correction.
BNB struggled above the USD 335 level and corrected lower. On the downside, the USD 325 level is a decent support, below which there is a risk of a move towards the USD 312 level.
Solana (SOL) struggled to surpass the USD 50 resistance. The price is moving lower below USD 48. It seems like SOL might decline towards the USD 45 support.
DOGE is declining and approaching the USD 0.082 level. A clear move below the USD 0.0820 support may perhaps call for a test of USD 0.0800. On the upside, the USD 0.0850 level is a strong resistance.
XRP price is moving lower below the USD 0.40 level. The next major support is near USD 0.38, below which there is a risk of a move towards the USD 0.365 level.
A few altcoins are in the green zone, including DOT, BCH, XMR, ETC, AAVE, LRC, XTZ, and CELO. Out of these, CELO gained 9% and surpassed the USD 1.40 level. It’s still down over 2% in a week. Meanwhile, ETC corrected lower from USD 25.57, reached earlier today, to USD 23.64. It’s still up 6% in a day and 8% in a week.
To sum up, bitcoin is struggling to clear the range resistance at USD 30,500. If BTC slides further, the bears could attempt a move below the USD 28,500 support.
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