Bitcoin and Ethereum Consolidating Profits and the Rally of ZIL and ZRX

  • price Bitcoin It struggles to increase the pace above $42,000.
  • Ethereum Consolidating near $3,100, XRP is stuck near $0.75.
  • ZIL jumped 19% while ZRX gained more than 50%.

Bitcoin price rose above $41,500, moved above $42,000 but struggled near $42,200. Currently (04:05 UTC) it is consolidating gains above $41,600 and may remain supported near $41,200. Bitcoin is up nearly 1% in one day and more than 1% in one week.

Likewise, most of the major altcoins remain supported and could see another rally. ETH tested the $3,150 resistance area before correcting to the downside. XRP failed to rise above the $0.78 resistance level. ADA struggled to break out of the $0.98 resistance area.

Total market value

Bitcoin Ethereum
Source: tradingview.com

Bitcoin price

After moving above $41,500, bitcoin price extended its rally and managed to break out of the $42,000 area. However, the bulls struggled near the $42,200 level. The price corrected lower and traded below $41,500 before recovering. After the $41,200 support area, the next major support is near $40,800, below which the price could revisit $40,000.

There is immediate resistance to the upside near the $42,000 level. The next major resistance could be $42,200, at which point the price could start rising again.

Ethereum price

Ethereum price surged above the $3,120 resistance level. ETH even broke through the $3,150 resistance area, but there was no continuation to the upside. The price is now consolidating gains below $3,100, with immediate support at $3,080. The next major support is near the $3,050 level, below which the price could test $3000.

On the upside, the $3,150 level could represent resistance. The next major resistance might be near the $3,220 level.

ADA, BNB, SOL, DOGE and XRP price

Cardano (ADA) tried to move steadily above $0.95. However, it failed to break out of the $0.98 resistance area. The price is now consolidating below $0.95 and could test the $0.932 level.

Binance coin (BNB) extended gains above the $425 resistance level. It tested the $432 resistance area as the bears emerged. It is back at $420, and if it continues to correct lower, it could find bids near $415.

Solana (SOL) failed to break out of the $110 resistance area. It is moving lower and could test the $102 support. Major support is forming on the downside near the $100 level.

Dogecoin (DOGE) failed to stay above the $0.145 resistance level. It corrected lower and is now approaching the $0.140 level. If the bears continue to act, the price may slide towards the $0.135 support.

XRP price is moving lower and is approaching the $0.750 support level. If the price remains above $0.75, it may start a new move towards $0.780. The main resistance is still near $0.800.

More altcoins today

Some altcoins are up over 4%, including XMR, APE, THETA, CAKE, EOS, ZEC, CVX, ZIL, ZRX, and KAVA. Of that, ZRX gained over 54% and broke through the $1.10 level, increasing its weekly earnings to 45%. The ZRX also doubled in one month. Meanwhile, ZIL is the best performer in the top 100 cryptocurrencies by market capitalization today, jumping 19% and breaking the $0.13 level, increasing its weekly earnings to 17%.

Overall, the bitcoin price is still trading above the $41,000 level. If BTC gains the pace to move above the $42,000 level, it may accelerate higher in the upcoming sessions.

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