The price of Bitcoin started a further rise from the USD 44,500 area and broke above the USD 47,300 threshold before falling sharply. It is currently trading near USD 46,000 and remaining unchanged within a day.
On the other hand, most of the major altcoins also saw strong swings. ETH spiked above $3,550 before falling sharply. XRP needs to cross the $0.85 mark to revisit the $0.90 resistance, while ADA is hovering near the $1.20 resistance.
Total market capitalization
bitcoin price
After a further rise, Bitcoin price faced selling pressure near the $47,400 level and even dipped below the $46,000 support, before rallying. The next major support lies near $45,500, below which the price could test $45,000. Any further losses could send the price towards the USD 44,200 level.
On the upside, the price may encounter resistance near the $47,000 level. The main weekly resistance is seen near the $47,500 level, above which the price could start a move towards $50,000.
Ethereum price
Ethereum price remained in a positive zone above the USD 3,400 level. ETH even climbed above the $3,550 level, but fell back below $3,500. However, it is still up 1% in one day. The next major support is seen near the $3,420 level, below which the price could decline to as low as $3,300.
On the upside, the first threshold to watch is the USD 3,580 zone. The next key resistance could be found near the $3,650 level, above which the price could possibly rise to as high as $3,800.
Price of ADA, BNB, SOL, DOGE and XRP
Cardano (ADA) is currently consolidating below the $1.20 level. To start a new rise, the price must settle above $1.20. The next key resistance is near $1.245.
BNB attempted to break through the $450 resistance zone. However, it faced selling pressure near $454 and $455. It is now consolidating below USD 450.
Solana (SOL) broke above the $125 resistance zone. It even broke above $140 and is currently consolidating its gains near $135. If there is a further rise, the price could reach $150.
DOGE is stuck below the $0.15 resistance zone. Immediate support is found near the $0.142 level. The next key support is found near the $0.135 level. If trending lower, the price might test the support at $0.128.
Other altcoins in the market today
A few altcoins are up more than 5%, including NEAR, ICP, CAKE, CVX, CELO, MINA, KDA, and BORA. Of these, MINA gained over 15% and traded above the $3 level, before correcting. CAKE surged above $9.85, while CELO hit $4.05, both increasing their weekly gains by around 22%.
Overall, Bitcoin price is trading well below the $47,500 resistance. If BTC drops below $45,500, there is a risk of movement towards the $44,200 or even $43,500 levels.
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