Bitcoin and Ethereum Fluctuate Near Key Levels, MATIC Rallies
Bitcoin price started a downside correction below the USD 20,500 support. BTC even spiked below the USD 20,000 level, but the downsides were limited. It is currently (04:10 UTC) trading near USD 20,200 and is down almost 1% in a day and 10% in a week.
Similarly, most major altcoins are struggling to extend recovery. ETH struggled below USD 1,100. XRP is still consolidating near USD 0.320. ADA is stable above the USD 0.45 support.
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After a downside correction, bitcoin price was able to settle above the USD 20,000 level again. However, BTC is facing a lot of hurdles on the upside, starting with USD 20,500. The first major resistance is now near USD 21,000 and USD 21,200. A close above the USD 21,200 level might increase the chances of a break towards the USD 22,500 level.
On the downside, an initial support is near the USD 20,000 level. The next major support is near the USD 19,500 zone, below which the price could gain bearish momentum.
Ethereum price also followed a similar path and is currently consolidating above the USD 1,050 level. On the upside, the price is facing resistance near the USD 1,120 level. The next major resistance is near USD 1,150, above which the price could even surpass the USD 1,200 resistance zone. ETH is down almost 2% in a day and 13% in a week.
On the downside, an initial support is at USD 1,050. The next major support is near USD 1,000, below which the price could gain bearish momentum.
Cardano (ADA) corrected lower below the USD 0.465 support. The bulls are now protecting the USD 0.45 support. Any more losses could start a move towards the USD 0.42 support zone.
BNB is consolidating near the USD 220 level. On the upside, the first major resistance is near USD 225. The main
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