Bitcoin and Ethereum consolidate their gains, AXS increases

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Bitcoin price consolidates gains above $ 47,000. Ethereum is stable above $ 3,250, XRP is consolidating above $ 1. AXS grew by more than 40%, DYDX and FLOW gained almost 11%.

The price of Bitcoin has started a downward correction from the $ 49,250 area. BTC corrected below the $ 48,000 level. It is currently (11:59 UTC) consolidating gains above the support levels of $ 47,000 and $ 46,500.

Likewise, most of the major altcoins also consolidate their earnings. ETH is stable and is trading well above the $ 3,250 support. XRP is stuck between the $ 1.00 and $ 1.08 levels. ADA may correct lower to test the $ 2.12 support area.

Total market capitalization

Source: https: //www.tradingview.com Bitcoin Price

After testing $ 49,250, the price of bitcoin began a downward correction. BTC traded below the $ 48,500 and $ 48,000 levels. He even tested the support level of $ 47,200. The next major support is near the $ 46,500 level. If there is a bearish breakout below the $ 46,500 support, there is a risk of movement to the key $ 45,000 support area.

On the upside, immediate resistance is near the $ 48,000 level. The next key resistance is $ 49,250, above which the price could test $ 50,000.

Ethereum price

The price of Ethereum has also started a downward correction from the $ 3,500 region. ETH fell below $ 3,400, but is stable above $ 3,300. The next key support is near the $ 3,250 level, below which the price may test the pivot level of $ 3,150.

On the upside, a first hurdle is near the $ 3,400 level. The next key resistance is $ 3,420, above which the price could test $ 3,500.

ADA, LTC, DOGE and XRP prices

Cardano (ADA) corrected lower below the pivot level of $ 2.20. It is now trading near $ 2.15 and it looks like it could move lower towards the $ 2.12 support. Further losses could eventually drive the price towards the $ 2.05 level. The next key support is near the $ 2.00 level.

Litecoin (LTC) is consolidating near the 162 and 165 USD levels. If there is a breakout to the downside, the price could test the $ 155 support. On the upside, bulls need to strengthen above $ 175 to get closer to the $ 188 level. The main obstacle to a bigger rally is still close to $ 200.

Dogecoin (DOGE) settled above the pivot level of $ 0.210. However, the bulls face a daunting task near $ 0.220 and $ 0.222. If there is a close above $ 0.222, the price may rise towards the $ 0.235 level. On the downside, the levels of $ 0.205 and $ 0.200 are important supports.

The price of XRP has established itself above the $ 1.00 level and it is now trading in a range. On the upside, immediate resistance is near $ 1.05. The main resistance is now near $ 1.088, above which the price may rise to the $ 1.15 level. The next major resistance is near $ 1.20.

Other altcoins market today

Many altcoins rose over 5% including AXS, DYDX, ALGO, SHIB, LUNA, FLOW, HNT, ENJ, HOT, TEL, ONE, and MANA. Of these, AXS rose 40% and broke above the $ 150 level.

To sum up, the price of bitcoin is trading in a range above the support area of ​​$ 46,500. As long as BTC is above $ 45,000, it could start to rise again in the short term.

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