Bitcoin partially recovered after falling from $31,500 to $30,000 earlier in the day and is now trading around $30,500. BTC is up 3% in one day and down 4% in a week. Similarly, most major altcoins face significant hurdles. ETH failed to stay above the $1,850 resistance zone. XRP is falling below $0.40. ADA corrected but is still trading around $0.65.
Bitcoin price failed to break past the $31,500 resistance zone after a steady rise. BTC corrected and traded below $30,000 before recovering towards $30,500. An initial support on the downside is near the $30,000 level. The next major support is near the $29,500 area, below which the price could start a sharp decline. On the upside, the price could face sellers near the $31,000 level. The next key resistance is near $31,500, above which the price could start a steady rise.
Ethereum price peaked below the $1,880 level. ETH failed to stay above the $1,850 level and it corrected below $1,800 before it bounced back above it. ETH rose 3% in one day and fell 7% in one week. An initial support on the downside is near the $1,800 level. The next magic support is near $1,750, below which the price could start a strong decline. On the upside, the price could continue to face sellers near $1,850. The main resistance is currently near $1,880, above which the price could rise steadily.
Several altcoins are in the green, including AVAX, MATIC, CRO, LINK, FTT, ALGO, THETA, HNT, NEO, and MIOTA. Apart from these, LINK and THETA, which increased by more than 13% in one day, became the best performing cryptocurrencies among the top 100 cryptocurrencies by market capitalization today. For LINK $8.50, THETA surpassed $1.35, bringing its weekly earnings to about 2%. LINK increased 11% in a week.
Cardano (ADA) climbed above the $0.62 resistance and tested $0.65, but its upside was limited. If there is a clear move above $0.65, the price could rally towards $0.70. ADA is the best performer among the top 20 coins, up more than 10% in one day. BNB, on the other hand, started a recovery above the $285 level and it is currently consolidating near the $290 level. The next key resistance is at $295, above which the price could rise towards the $312 resistance area. XRP price struggled to stay above the $0.40 level. A close below $0.40 could increase the pressure on the bulls. There is a key resistance forming near the $0.42 level on the upside.