Bitcoin price stayed sustained above the USD 20,500 zone and BTC was able to climb above the USD 21,200 level, but it remained below the USD 22,000 zone. It is currently as of writing consolidating near USD 21,204.90 and is down over 1% in a day and up 3% in a week.
Similarly, most prominent altcoins are trading in a range. ETH mounted above USD 1,250, but stumbled near USD 1,280 and moved downward. XRP is squeezing above USD 0.350 while ADA is fluctuating near USD 0.50.
After an obvious move above the USD 21,200 level, bitcoin price was able to persist higher and ascended above the USD 21,800 level, but there was no test of USD 22,000. The price repaired gains and traded below USD 21,500. It is now encountering resistance near the USD 21,500 zone. The subsequent major resistance is now near USD 21,800. A close above the USD 21,800 and USD 22,000 levels might trigger a stronger increase.
On the downside, initial support is around the USD 20,500 level. The major weekly support is near the USD 20,000 zone, below which the price of Bitcoin could trigger a quicker decline.
Ethereum price also began an upward move above the USD 1,150 resistance. ETH was able to exceed USD 1,250 before it faced sellers near the USD 1,280 zone. The price is now impending near USD 1,220 and is down over 1% in a day and up 8% in a week. The next significant resistance is near USD 1,300, above which ETH could ascend towards the USD 1,350 level.
On the downside, initial support is around USD 1,180. The next major support is close to USD 1,120, below which the price could revisit USD 1,000 mark.
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ADA, BNB, SOL, DOGE, and XRP
Cardano (ADA) was able to exceed the USD 0.50 resistance. Although, the upsides were confined and the price rectified gains and is now fluctuating roughly at USD 0.50. Also, if there are more losses, the price could test USD 0.465 mark.
BNB raised gains above the USD 242 level but fell near USD 245. It is now trading near USD 237 and is unaffected in a day.
SOL(Solana) moved below USD 40 before bearing to this level again. The next main support is near USD 38, below which there is a danger of a move towards the USD 35 level.
DOGE raised above the USD 0.0650 resistance zone. The price is up by 10% and trading above the USD 0.072 level. The next major resistance is near the USD 0.0775 level. A clear move past the USD 0.0775 level could send the price towards the USD 0.082 level. Also, the price for DOGE is up by 24% in a week.
XRP price settled beyond the USD 0.35 resistance. It is now facing resistance close to the USD 0.375 level, above which it could ascend towards the USD 0.40 level.
Crypto Market today for other altcoins
A few other altcoins are also trading in the green zone. These coins include TRX, ETC, STX, UNI, APE, CAKE, DCR, and KAVA. Out of these altcoins, ETC is exhibiting positive signs above the 17.20 level as the price is up 5%. STX is up around 10% and is dealing above USD 0.45. It is also up by 24% in a week.
All around, the bitcoin price is squeezing near the USD 21,000 level. If there is a downside extension, BTC might find substantial bids near the USD 20,000 zone.
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NFTHI does not recommend any kind of Investment in NFTs or NFT trading. All the strategies are merely educational references.
Conduct thorough research before you start with NFT trading.