Yesterday, bitcoin price recovered from the USD 19,500 zone and is now still fluctuating above the USD 20,000 level. It is currently (03:53 UTC) consolidating near USD 20,200 and facing resistance near USD 20,500. BTC is up 2% in a day and down almost 6% in a week.
Similarly, most major altcoins are attempting a recovery wave. ETH was able to recover above the USD 1,500 and USD 1,520 levels. XRP is strong above the USD 0.32 support. ADA is facing resistance near the USD 0.45 zone.
Total market capitalization
After forming a base above the USD 19,500 zone, bitcoin price started an upside correction. BTC even surpassed USD 20,200, but the bears were active near the USD 20,400 and USD 20,500 levels. A clear move above the USD 20,500 zone might push the price further higher. The next major resistance is near USD 20,800, above which the price might test USD 21,200.
On the downside, an initial support is now near the USD 20,000 level. The next key support is near the USD 19,500 zone, below which the price could test USD 18,800.
Ethereum price started a steady increase above the USD 1,480 zone and was able to clear the USD 1,520 level. ETH even spiked above the USD 1,550 resistance, but there was no follow through. ETH is trading near USD 1,540 and is up 6% in a day and down over 5% in a week. The next key resistance is near the USD 1,580 level, above which the price could rise towards the USD 1,650 resistance zone.
On the downside, an initial support is now forming near the USD 1,500 level. The next major support is USD 1,450, below which price could test the USD 1,420 level.
Cardano (ADA) is stable above the USD 0.42 support. It is moving higher and trading above the USD 0.44 level. However, a clear move above the USD 0.45 resistance is needed for a stronger increase.
BNB remained supported near the USD 275 zone. The price started a recovery wave above the USD 280 level, and if the bulls remain in action, they might push the price towards USD 295.
Solana (SOL) found support near the USD 30 level. It is now rising and trading above USD 32. The next major resistance is near USD 33.50, above which it could rise to USD 35.
DOGE remained well above the USD 0.0600 support zone. The price is moving higher towards the USD 0.0635 resistance. The next major resistance is near USD 0.0650.
XRP price is up almost 2% and trading near the USD 0.30 zone. The first major resistance is USD 0.335, above which it could rise towards the USD 0.35 level.
Many altcoins are recovering higher, including DOT, MATIC, SHIB, TRX, UNI, ETC, FTT, LINK, NEAR, LDO, FLOW, ICP, and SAND. FLOW and LDO are the best performers among the top 100 coins by market capitalization today as they jumped 11% and 13% in a day, respectively. FLOW is trading near USD 1.94, trimming its recent gains, while LDO reached USD 1.85. Both coins are down over 10% in a week.
Overall, bitcoin price started an upside correction above USD 20,000. However, BTC could struggle to rise further above the USD 20,500 resistance zone in the near term.
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