- The price of Bitcoin failed to settle above $ 43,500 and was corrected downward.
- Ethereum is back below $ 3000, XRP is above $ 1.00.
- OMG rebounded over 13% and broke through the $ 11.50 level.
The price of Bitcoin broke through the resistance of 43,500 USD. However, BTC struggled to keep rising and failed to test $ 44,000. It is currently correcting lower (11:55 UTC) and trading below $ 43,200.
Likewise, most of the major altcoins are also losing strength. ETH hit nearly $ 3,050 and corrected below $ 3,000. XRP climbed to $ 1.00 before slashing gains. The ADA moves towards the support area of $ 2.02.
Total market capitalization
After a break above $ 43,200, bitcoin price even broke the $ 43,500 mark. However, BTC failed to continue rising and began a downward correction below $ 43,500. It traded below the 43,200 and 43,000 USD levels. On the downside, a first support is close to 42,500 USD. The next key support is at $ 42,000, below which the price could revisit $ 40,800.
If there is a further increase above $ 43,500, the price could test $ 44,000. The next key resistance is near the $ 44,400 level, followed by $ 45,000.
Ethereum price climbed to the $ 3,050 level, where it encountered resistance. ETH began to correct to the downside and traded below $ 3,000. He even tested the $ 2,950 level. If there are further losses, the price could test the support at $ 2,880. The main support is still close to $ 2,750.
On the upside, the level of 3,000 USD is a first obstacle. The next key hurdle could be $ 3,050, above which the price could rise to the $ 3,150 level.
ADA, LTC, DOGE and XRP prices
Cardano (ADA) is down more than 2% and is approaching the $ 2.05 level. The first major support is near $ 2.02, followed by $ 2.00. If there is a clear break below $ 2.00, there is a risk of a larger downside to the $ 1.88 level.
Litecoin (LTC) still holds gains close to the $ 150 level. Immediate resistance is near $ 155. A sharp break above the $ 155 level could initiate an increase towards the $ 165 level. Otherwise, the price could reduce the gains and revert to the $ 140 level.
Dogecoin (DOGE) struggles to stay above the $ 0.200 level. A breakout lower and a close below $ 0.200 could open the door for a larger increase. On the upside, immediate resistance is near the $ 0.205 level, above which price may test the pivot level of $ 0.212.
XRP price moves down after marking the level of 0.990 USD. It went back below $ 0.950 and it could test $ 0.920. The next major support is near $ 0.900, below which bears could possibly strengthen in the near term. The next major support is near the $ 0.850 level.
Other altcoins market today
Many altcoins are down more than 5% including COMP, CELR, REN, NEAR, ATOM, RUNE, ONE, PERP, OKB, IOST, XDC, ALGO, AR, CELO, REV, and HNT. Conversely, OMG, LEO, ZIL and AXS are up more than 5%.
To sum up, the price of bitcoin corrects gains below $ 43,200. As long as BTC is above $ 42,500, it could attempt a further rise towards the $ 44,400 level.