Bitcoin and Ethereum Consolidate Gains
Bitcoin’s price has accelerated above the USD 24,000 barrier level. On the other hand, BTC failed to test the USD 25,000 barrier and is now (04:06 UTC) consolidating gains near USD 23,350. BTC is down about 2% in a day and up more than 3% in a week.
Similarly, the majority of the main altcoins are correcting lower. ETH failed to maintain a price over USD 1,750 and fell below USD 1,700. XRP failed to break through the USD 0.40 barrier level. ADA could make another push at the USD 0.55 resistance.
Following an unsuccessful attempt to break above USD 24,500, the bitcoin price began a downward correction and traded below USD 23,500. On the downside, an initial support level is near USD 23,200. The next big support is near USD 22,500, below which the price may return to USD 20,000.
On the plus side, an immediate resistance level is USD 23,650. The next significant resistance level might be USD 24,250, above which the price could attempt a rise towards USD 25,000.
Crypto Prices
The ethereum price tried to break over the USD 1,750 resistance level. However, ETH failed to gather momentum and began a downward retreat below USD 1,700. The price is now trading near USD 1,690 daily and up more than 5% weekly. On the downside, an initial support level is near USD 1,650. The next significant support zone is near USD 1,620, below which the price may fall to USD 1,550.
On the plus side, the price may struggle to reach USD 1,720. The next major resistance is near USD 1,750, over which the price might reach a new multi-week high.
Cardano (ADA) has accelerated above the USD 0.52 resistance level. It tried to go towards USD 0.55, but the bulls could not drive the market higher. It is now settling at about USD 0.52.
BNB broke over the USD 288 barrier level. It even reached the USD 300 resistance level, where the bears appeared. It is now trading in a range of around USD 285.
Solana (SOL) broke over the USD 42 barrier level. It even surpassed USD 45 before correcting the downside. On the downside, the bulls may continue to be active near USD 40.
