Bitcoin and Ethereum Still Consolidate, 1INCH and DCR Outperform

  • Bitcoin is still hovering near USD 20,000.
  • Ethereum is still below USD 1,600, XRP is trading near USD 0.33.
  • 1INCH and DCR are gaining bullish momentum.

Bitcoin price remained in a range above the USD 19,500 support zone. BTC is currently (11:11 UTC) trading near USD 20,070 and is almost unchanged in a day and down 7% in a week.

Similarly, most major altcoins are also looking for direction. ETH is still trying to move above USD 1,600 while XRP might clear the USD 0.335 resistance zone. ADA is moving higher towards the USD 0.475 resistance.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a few swing moves, bitcoin price formed a base above the USD 19,500 level and might attempt a clear move above the USD 20,300 level. The key breakout zone is near the USD 20,500 level. A close above the USD 20,500 resistance zone might spark a sharper upward move. In this case, the price could test USD 21,200 or even USD 21,500.

On the downside, an initial support is near the USD 19,580 level. The main breakdown support is still near the USD 19,500 zone, below which the price could nosedive.

Ethereum price

Ethereum price also followed a similar pattern above the USD 1,500 support. ETH remained well bid and settled above the USD 1,550 level. The bulls are now attempting a close above the USD 1,600 and USD 1,620 resistance levels. ETH is up almost 2% in a day and down over 6% in a week.

On the downside, an initial support is now near the USD 1,550 level. The next major support is USD 1,520, below which ETH could decline below USD 1,500.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) is consolidating above the USD 0.45 level. If the bulls remain active, the price might rise to the USD 0.475 resistance. The next key resistance is near USD 0.50, above which the price could rally.

BNB is consolidating above the USD 275 level. It seems to be facing resistance near the USD 282 level. A close above this level might send the price towards the USD 288 resistance.

Solana (SOL) is moving higher towards the USD 32 level. The first major resistance is near the USD 33.50 level, above which the price may rise towards the USD 35 resistance.

DOGE is consolidating near the USD 0.062 level. If there is a fresh increase, the price might surpass the USD 0.0635 resistance. The key hurdle for a larger increase is near the USD 0.065 level.

XRP price is rising towards the USD 0.335 resistance zone. If there is an upside break, the bulls might test the USD 0.35 level. Any more gains could open the doors for a move to USD 0.40.

Other altcoins market today

Many smaller altcoins are rising, including DOT, MATIC, UNI, ETC, LTC, 1INCH, ATOM, LINK, EOS, LINK, MANA, CHZ, and DCR. Out of these, 1INCH surged almost 11% and surpassed USD 0.73, while DCR jumped 13% and neared USD 31.50. CEL is still the best performer among the top 100 coins today, as it jumped 23%.

To sum up, bitcoin price is holding the key USD 19,500 support zone. If BTC stays above this level, it could start a stronger increase above USD 20,500.

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