Home Correction trading Bitcoin Trading Range Below $21,500, Ethereum Consolidating Gains, XRP Rallies

Bitcoin Trading Range Below $21,500, Ethereum Consolidating Gains, XRP Rallies

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  • The bitcoin price might cross above the $21,000 level.
  • Ethereum bulls could target $1,250; XRP is gaining ground above $0.35.
  • AVAX and MATIC show signs of more benefits.

Bitcoin price held steady and settled above the $20,500 support. BTC is currently (11:38 UTC) trying to move clearly above the $21,200 resistance zone. A clear move could set the tone for a move towards $22,500.

Likewise, most major altcoins are slowly rising. ETH is consolidating gains near the $1,150 level. XRP jumped 14.4% and broke above the $0.374 level. ADA is still struggling to clear the $0.5 resistance.

Total market capitalization

Source: tradingview.com

bitcoin price

After crossing above the $20,500 level, bitcoin price climbed above the $21,000 level. It even broke above the USD 21,200 level. However, the price remained below $21,500 and started trading within a range. The next major resistance is now near USD 22,000. A close above the $22,000 level could set the tone for a test of the $22,500 resistance.

On the downside, immediate support is near the $20,500 level. The next major support is near the $20,000 area, below which the price may face increased selling pressure.

Ether price

Ethereum price remained in a positive zone above the $1,050 level. ETH was able to cross the resistance levels of $1,120 and $1,150. It is now consolidating its gains and might rally towards the USD 1,200 level. The next major resistance is near $1,250, above which the price could pick up some bullish momentum.

On the downside, a first support is located at 1,120 USD. The next major support is near $1,050, below which the price could fall sharply.

ADA, BNB, SOL, DOGE and XRP prices

Cardano (ADA) attempted to break above the resistance of $0.50. However, he faced some sellers and started trading within a range. If there is a downward correction, the price might test $0.465.

BNB settled above the $230 resistance level. The next major resistance is near the $242 level. A wave of clear movement at the $242 level could see BNB eyeing a move towards the $250 level.

Solana (SOL) attempted a move above the $40 resistance zone, which currently sits at $40.11. The main support on the downside is near USD 35.

DOGE settled above the $0.0650 resistance zone. The next major resistance is near the $0.068 level, above which the price might rise towards the $0.070 level.

XRP price started a strong rise above the $0.35 resistance. The price is up over 14% and it looks like the bulls are aiming for a test of the $0.40 resistance.

Market of other altcoins today

A few altcoins rose more than 5%, including AVAX, MATIC, XLM, NEAR, ALGO, ATOM, XMR, AXS, MKR, and BTT. Of these, MATIC corrected gains and traded below the $0.60 level.

In summary, bitcoin price might attempt to break above the $21,500 level. If BTC fails, there is a risk of a sharp move towards the USD 20,000 level.

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