Bitcoin price remained strong and extended its rally above USD 58,000. BTC was even trading at another all-time high near $ 58,641 (via Coingecko.com) before a downward correction began. Currently (05:00 UTC) it is trading below USD 57,000 with the main supports at USD 55,000 and USD 52,000.
Similarly, corrective action has been taken on most of the major altcoins. The ETH / USD failed to rise any further above USD 1,950 and fell to USD 1,850. XRP / USD traded below USD 0.530 this morning before rising above USD 0.615.
Total market capitalization
Bitcoin price also rose above the $ 57,000 level. BTC even hit the USD 58,000 level and traded to another all-time high near USD 58,641. However, it failed to move any further towards USD 60,000 and was recently corrected lower.
There was a break below the USD 57,000 and USD 56,200 support levels. The next major support is near the USD 55,000 support level. If there are more downsides, the bears could test the weekly support at USD 52,000. On the upside, the main hurdle this week could be USD 60,000.
The price of Ethereum struggled to stabilize above USD 2,000 and started a new decline. ETH broke the USD 1,950 and USD 1,900 support levels. Support of $ 1,850 is currently being tested. If the bears stay in the action, there could be a decline towards the USD 1,760 and USD 1,750 support levels.
On the upside, the USD 1,950 level is an important pivot zone. The main upside resistance is still near the $ 2,000 level.
BNB, ADA, Litecoin and XRP price
Binance Coin (BNB) has risen over 100% in the past week and even surpassed the USD 300 level. BNB flipped USDT and became the third largest crypto. It is now correcting gains and trading below USD 300. Initial support is near the USD 255 level below which the price could test USD 220.
Cardano (ADA) rallied above the $ 0.950 resistance and even triggered the $ 1.00 resistance. ADA is now consolidating near USD 1.00 and may correct lower towards USD 0.950 (resistance became support). On the upside, the USD 1.10 level is a strong resistance.
Litecoin (LTC) struggled to break past the USD 240 and USD 250 resistance levels. LTC corrected below the USD 225 support level. It is now trading near the USD 220 level and could test USD 212 or USD 205. On the upside, the bulls will need to gain strength above USD 232 to move towards USD 250.
XRP price traded well below the USD 0.550 resistance before starting a sudden and sharp rally this morning, jumping over 14% in an hour and rising above the USD 0.615 level.
Other altcoin market today
Many altcoins were up over 10% including NPXS, IOST, FTM, HOT, KCS, BTT, OKB, FLOW, BTG, ZRX, XEM, KSM, LUNA and BNT. Of these, the NPXS rose over 60%, topping the $ 0.0028 level.
Overall, the Bitcoin price corrects gains well over USD 58,000. BTC could test USD 55,000 or even USD 52,000 before starting a new uptrend towards USD 60,000.
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