Bitcoin price remained capped below the USD 20,500 resistance. BTC corrected below USD 20,000, but the bulls were active above the USD 19,500 support. It is currently (03:50 UTC) trading near USD 20,160 and is up almost 1% in a day and down 7% in a week.

Similarly, most major altcoins are facing key hurdles. ETH could gain bullish momentum if there is a close above USD 1,600. XRP is facing resistance near USD 0.335. ADA managed to climb above USD 0.45 and started a consolidation phase.

Total market capitalization

After another rejection near USD 20,500, bitcoin price started a downside correction. BTC traded below the USD 20,000 level. However, there was no downside break below the USD 19,500 support. The price recovered above USD 20,100 and is facing an immediate resistance near the USD 20,220 level. The main hurdle is still near the USD 20,500 level, above which the price might start a stronger increase.

On the downside, an initial support is near the USD 19,750 level. The main breakdown support is still near the USD 19,500 zone, below which the price could accelerate lower.

Ethereum price also struggled to gain pace above the USD 1,620 resistance zone and corrected lower below the USD 1,550 level. However, the bulls were active above the USD 1,500 zone. The price is now moving higher and facing hurdles near USD 1,600. ETH is up 3% in a day and down 6% in a week. To start a steady increase, the price must settle above USD 1,600 and USD 1,620.

On the downside, an initial support is now near the USD 1,550 level. The next major support is USD 1,520, below which price could struggle to stay above USD 1,500.

Cardano (ADA) managed to recover and climbed back above USD 0.45. It is now facing resistance near the USD 0.465 level. The