Bitcoin Stuck Below USD 57K, Ethereum Inches Higher, SAND & ZEC Rally


  • Bitcoin price is still struggling below USD 57,000.
  • Ethereum could face resistance near USD 4,350, XRP is stuck below USD 1.05.
  • MANA, CRO, SAND, and ZEC are up over 18%.

Bitcoin price is still facing many hurdles below the USD 58,000 resistance zone. BTC is currently (12:00 PM UTC) consolidating above the USD 55,500 support. A close below this level may possibly spark a sharper decline.

Besides, most major altcoins are stuck in a range. ETH is rising towards the USD 4,350 resistance zone. XRP is facing resistance near USD 1.05, while ADA is still below USD 1.70.

Total market capitalization

Source: tradingview.com

Bitcoin price

Recently, bitcoin price was rejected near the USD 58,000 zone and is now still trading below USD 57,000. An immediate support is near USD 56,000. The key breakdown support is near USD 55,500, below which the price could start a stronger decline. The next key support could be USD 52,000.

On the upside, the price is facing resistance near USD 57,500. The next key resistance is near the USD 58,000 level, above which the price might start a recovery wave.

Ethereum price

Ethereum price remained stable above USD 4,200 and climbed above USD 4,250. It is rising, but it might face resistance near the USD 4,350 level. A close above USD 4,350 may perhaps start a steady increase in the near term.

If not, there could be a downside correction towards the USD 4,200 support. The next major support is near the USD 4,120 level.

ADA, BNB, SOL, SHIB, and XRP price

Cardano (ADA) dropped and even broke the USD 1.70 support. The next major support is near the USD 1.62 level. Any more losses might push the price below USD 1.60. On the upside, the price could face hurdles near the USD 1.75 and USD 1.80 levels.

Binance coin (BNB) is rising and trading above the USD 580 level. It even surpassed USD 585 and it seems like the bulls are aiming for a test of USD 600. If there are additional gains, the price could rise towards the USD 625 level.

Solana (SOL) is still facing resistance near the USD 220 and USD 225 levels. To continue higher, the price must settle above USD 225 and then gain pace above USD 232. In this case, the price could rise towards the USD 250 level.

SHIB is down over 5% and traded below the USD 0.000040 level. It is now approaching the USD 0.000038 level. If there are more downsides, the price could dive towards the USD 0.000035 level. The next major support is near the USD 0.000032 level.

XRP price is consolidating above USD 1.02 support zone. An immediate hurdle is near the USD 1.05 level. The main resistance is still near the USD 1.12 level, above which the price might rise towards the USD 1.20 level.

Other altcoins market today

Many altcoins are up over 10%, including SAND, ZEC, BORA, ENJ, MANA, CRO, XDC, AUDIO, ONE, IMX, MATIC, and WAXP. Out of these, ZEC is the best performer among the top 100 coins by market capitalization. It jumped by 25% and surpassed the USD 250 level.

To sum up, bitcoin price is showing bearish signs below USD 58,000 and USD 58,500. As long as BTC is below USD 58,500, there is a risk of a sharper decline in the near term.



Source link