Smaller Altcoins Extend Gains while Bitcoin and Ethereum Look for Direction

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  • Bitcoin price is aiming more upsides above USD 38,500.
  • Ethereum is consolidating above USD 2,700, XRP might face sellers near USD 0.65.
  • Multiple smaller altcoins rallied up to 10% today.

Bitcoin price is currently (11:58 UTC) consolidating near the USD 38,500 level. If the bulls remain active, the price could rise towards the USD 40,000 level.

Similarly, most major altcoins are attempting a key upside break. ETH could accelerate higher if there is a move above USD 2,800. XRP might struggle to clear the USD 0.65 resistance zone. ADA spiked above the USD 1.10 resistance before correcting lower.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a move above USD 39,000, bitcoin price corrected a few points. BTC declined below USD 38,500, but it is stable above USD 38,000. If there is a fresh attempt to clear USD 39,200, the price could accelerate higher. The next major resistance is near the USD 40,000 level, above which the price might rise to USD 41,200.

An immediate support is near the USD 38,000 level. The next major support is near USD 37,800, below which the price could start a move towards USD 36,500.

Ethereum price

Ethereum price is struggling to gain pace for a move above the USD 2,800 level. If ETH successfully settles above USD 2,800, there could be more gains. In this case, the price may perhaps rally towards the USD 3,000 level.

On the downside, an immediate support is near the USD 2,720 level. The next major support is near USD 2,700. Any more losses might push the price towards USD 2,600.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) surged above the USD 1.05 resistance. It even spiked above USD 1.10, but there was no upside continuation. The price is now consolidating near USD 1.05, below which it could test USD 1.02.

Binance coin (BNB) is still struggling to clear the USD 388 resistance level. If the bulls remain active, there are chances of a move towards the USD 400 resistance. The next major resistance is near the USD 420 level.

Solana (SOL) settled above the key USD 100 resistance level. It even broke the USD 105 level. It is now struggling near USD 112. If there is a clear move above USD 112, the price may perhaps rise towards the USD 120 level.

DOGE is testing the USD 0.145 resistance. The next key resistance is near the USD 0.150 level, above which the bulls could gain strength. In this case, the price might even surpass USD 0.165.

XRP price is still consolidating near the USD 0.620 level. An immediate resistance is near USD 0.635. The next major resistance is USD 0.65, above which the price could rise to USD 0.70.

Other altcoins market today

Several altcoins are up over 5%, including DOT, LTC, LEO, ETC, EGLD, MKR, XEC, NEO, KSM, and ZEC. Out of these, LEO trimmed gains, dropping below the USD 4.10 level, but is still up almost 6% in a day. Meanwhile, ETC and QNT are up over 9%.

To sum up, bitcoin price is consolidating above the USD 38,000 level. If BTC starts a fresh increase, it could even surpass USD 40,000. Conversely, there might be a bearish reaction to USD 36,500.

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