• Bitcoin price corrected lower, testing $ 54,000 before recovering.
  • Ethereum fell towards USD 3,400 with XRP staying above the USD 1.05 support.
  • The BNB rebounded over 13%, topping the $ 450 mark.

Bitcoin price began a downward correction from the USD 57,800 zone. BTC corrected below $ 55,500 and even tested $ 54,000. The price is currently recovering (04:31 UTC) and trading above the $ 56,000 level.

Also, most of the major altcoins struggle to start a new surge. ETH is consolidating near the USD 3,500 mark. XRP tested the USD 1.05 support where the bulls showed up. ADA is struggling to recover above $ 2.15.

Total market capitalization

Source: https://www.tradingview.com

Bitcoin price

Bitcoin price prolonged its decline after breaking below $ 56,000. BTC corrected down below $ 55,500 and $ 55,000. However, the bulls surfaced at $ 54,000 and there was a new bullish move. The price climbed above the $ 55,000 and $ 56,000 levels. On the flip side, initial resistance is near the $ 56,500 level. The next major resistance is at $ 57,000, above which the price could revisit $ 57,800.

On the flip side, initial support is at $ 55,650. The next big support is near $ 55,000, below which the price could hit $ 54,000 again.

Ethereum price

Ethereum price extended its decline below the $ 3,500 mark. ETH tested $ 3,400 before rising again. The price is now consolidating at $ 3,500 and encountering resistance at $ 3,550. The main resistance is now forming near the USD 3,600 mark.

If it continues to decline, the price could test the $ 3,440 level. The next major support is near $ 3,400, below which the price could decline towards $ 3,350.

ADA, LTC, DOGE and XRP prices

Cardano (ADA) extended its decline below $ 2.12 and $ 2.10. The price tested the $ 2.07 level and stayed above the $ 2.05 support. On the flip side, the bears could defend the $ 2.15 level. The main hurdle is now forming near the USD 2.20 mark.

Litecoin (LTC) traded under the USD 172 support and even tested the USD 165 support. The price is now rising and trading above $ 172. If it continues to rise, the bulls could face resistance near the $ 180 level. The next major resistance is near the USD 185 level.

Dogecoin (DOGE) traded below the $ 0.220 level, but the downside was limited. The price is now recovering and facing hurdles near $ 2.32. The next major resistance is at $ 0.250. Further gains could push the price towards $ 0.300 in the short term.

The XRP price rose below $ 1.10 and was trading near $ 1.05. The price is now attempting a recovery wave above the USD 1.10 level. To go further up, the price has to break above the USD 1.15 level. The next big hurdle is at $ 1.20.

Different Altcoins Market Today

Many altcoins are up over 5% including REV, STX, BNB, OMG, CAKE, ONE, KLAY, ATOM, XTZ, CELO, DOT and CHZ. Of these, the STX rebounded 21% and jumped above the USD 2.4 level. Meanwhile, the BNB is now trading above $ 460 after rising 13% on Binance Smart Chain news.

Overall, Bitcoin price is recovering from losses of over $ 56,000. However, BTC has to level off above $ 57,000 to stay higher in the upcoming sessions.


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