Bitcoin price corrected lower after it failed to surpass USD 36,000 and corrected below the USD 34,000 support. It is currently (12:25 PM UTC) showing negative signs, postponing its plans to increase towards USD 36,000.
Similarly, most major altcoins corrected lower, dropping by 2%-4% in an hour. ETH failed to stay above the USD 2,250 support while XRP corrected towards USD 0.65.
Total market capitalization
After a downside correction, bitcoin price found support near USD 33,500. BTC is now seemingly moving higher, but if it fails and breaches the first key support of USD 33,500, the next support is near USD 33,200, below which the price might test USD 32,200.
Ethereum price remained well bid above the USD 2,200 level but it is also showing signs of weakness. The next resistance is at USD 2,250, above which the price might test the USD 2,300 level.
If there is a downside correction, the next major support is near the USD 2,200 level.
BNB, LTC, DOGE, and XRP price
Binance Coin (BNB) is stuck near the USD 300 level. If BNB climbs above the USD 300 and USD 310 levels, it could gain momentum. In this case, the price might rise towards the USD 350 level. If not, there is a risk of a drop towards the USD 265 level.
Litecoin (LTC) is moving lower below the USD 138 level and there is a risk of a drop towards the USD 125 support zone. If LTC gains pace, it could revisit the USD 150 resistance.
Dogecoin (DOGE) is facing an uphill task below the USD 0.250 level. If it fails to settle above this price level, it could move down towards USD 0.200.
XRP price is trading above the USD 0.650 support after dropping by more than 5% in a day. The key breakout zone is near the USD 0.700 level. A daily close above USD 0.700 could set the tone for a larger increase in the near term.
Other altcoins market today
A few altcoins gained over 3%, including SNX, GRT, ATOM, KCS, XDC, EGLD, and LEO. Out of these, SNX is still the best performing coin among the top 100 cryptoassets by market capitalization as it’s up by 15% in a day, trading above USD 8.9.
To sum up, bitcoin price is correcting gains but still holding the USD 33,200 support. If BTC gains pace and recovers above USD 35,000, it could continue to rise in the next couple of sessions. Otherwise, it still might test the USD 32,200 level.