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Bitcoin and Ethereum Enter Roller Coaster Mode, ADA and LINK Jump

 

  • Bitcoin price retested the USD 31,500 resistance before diving again.
  • Ethereum failed near USD 1,880, XRP fluctuates around USD 0.40.
  • ADA and LINK are among the best performers today.

Bitcoin price formed a base above USD 29,500 and started a fresh increase. It briefly touched USD 31,500 and dived again. BTC is currently (04:00 UTC) trading near USD 30,000 and is up over 1% in a day and down 6% in a week.

Similarly, most major altcoins recovered losses and tested hurdles before diving again. ETH climbed above USD 1,800 and tested the USD 1,880 resistance before dropping. XRP is fluctuating around the USD 0.40 level while ADA is the best performer among the top 20 coins today.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a sharp decline, bitcoin price found support near the USD 29,200 and USD 29,500 levels. BTC formed a base, started a fresh increase above USD 30,500, and faced a major resistance near USD 31,500. BTC dropped sharply, broke the USD 30,500 support, and is now testing the next major support near the USD 30,000 zone, below which the price could start a stronger decline. 

Ethereum price

Ethereum price remained well bid above the USD 1,720 level. ETH formed a base and started a fresh increase above the USD 1,800 level. There was also a spike above the USD 1,850 level, but the bears defended the USD 1,880 resistance level and ETH dropped below USD 1,790. ETH is still up almost 2% in a day and down 9% in a week.

The next major support is near USD 1,750, below which the price might decline stronger. 

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) trimmed all losses and surged above the USD 0.60 resistance. The price gained over 7% and there was a move above the USD 0.64 resistance before correcting lower. If it clears USD 0.65, there could be a move towards USD 0.70.

BNB tested the USD 272 level and started a recovery wave. The price is back above USD 280, but it must clear USD 288 and USD 295 to continue higher. The next key resistance is at USD 300.

Solana (SOL) was attempting a recovery wave above the USD 40 resistance level before correcting lower again as the bulls lost control. SOL is down over 2% in a day.

DOGE moved below the USD 0.0800 support level again as it failed to clear the USD 0.820 resistance. DOGE is almost unchanged in a day.

XRP price is fluctuating around the USD 0.40 level. The price could rise further if it clears the USD 0.425 resistance. The next major resistance is near the USD 0.45 level.

Other altcoins market today

Several altcoins are up at least 4%, including FTT, ALGO, XEC, DCR, and AR. Meanwhile, LINK rallied 11% and broke the USD 8.5 resistance before correcting lower. LINK is also the best performer among the top 100 cryptoassets by market capitalization today and is also up over 9% in a week.

Overall, bitcoin price is fluctuating sharply around the USD 30,000 level. BTC could rise further if there is a clear move above the USD 31,500 resistance zone.

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