Bitcoin Consolidates and Ethereum Gains Bullish Momentum

Bitcoin price has corrected lower after a powerful rejection around USD 57,500. BTC has traded below the USD 56,500 support zone and is currently trading below USD 56,000. If it fails to remain above USD 55,000, a drop to USD 53,200 is possible.

Many big altcoins, on the other hand, are gaining traction. ETH has broken through the primary USD 2,300 resistance level.

Bitcoin price found support above USD 54,500 after a bearish reaction. BTC has risen above USD 55,000 and is currently consolidating in a range. Near the USD 56,000 mark, there is immediate resistance. The first big resistance is near USD 56,500, and if it is broken, the price can return to the USD 57,500 resistance.

According to cryptonews.com, if no upside break occurs above USD 56,500, the price can fall below USD 55,000. The bulls can take a stand at USD 53,200, which is the next big support level.

The price of Ethereum outpaced bitcoin and climbed above the USD 2,250 resistance level. ETH is up 10% and has also broken through the main USD 2,300 resistance level. Above the USD 2,350 mark, the current market action indicates further upside potential.

If there is a price correction to the downside, the price – find bids around USD 2,300. Near the USD 2,260 mark, the next major support is emerging.

Binance Coin increased by over 15% and broke through several barriers near USD 525 and USD 550. BNB has already broken through the USD 580 mark, and it seems that it will continue to climb above USD 600. The bulls’ next big stop may be near the USD 620 mark.

Cardano has risen above the pivot stage of USD 1.220, but it still faces resistance around USD 1.250. A simple break to the upside beyond USD 1.250 could raise the probability of a significant increase. Near USD 1.300, the next big resistance is found. The USD 1.220 is a good support level on the downside.#

From the USD 0.400 stage, Dogecoin (DOGE) began a downward correction. It has lost over 20% of its value and is now trading below the USD 0.335 support level. It is currently the crypto assets with the worst performance of the top 100 coins by market capitalization. The next big support level is around USD 0.300, below which the price could fall to USD 0.280.