Bitcoin and Ethereum Consolidate Gains, AAVE and CHZ Rally
Bitcoin price failed to stay above the USD 48,000 level and corrected below USD 47,500. It is currently (04:53 UTC) consolidating gains near USD 47,150 and might remain well bid above the USD 46,200 support zone.
Similarly, most major altcoins are consolidating gains. ETH tested USD 3,480 before it dipped below USD 3,400. XRP failed to clear USD 0.90 and corrected lower. ADA struggled to stay above the USD 1.20 support zone.
Total market capitalization
After a move above USD 48,000, bitcoin price faced sellers. There was a move below the USD 47,000 level but the price remained well bid near the USD 46,500 level and BTC moved back above USD 47,000 again. BTC is now down less than 1% in a day. The next major support is near USD 46,200, below which the price might test USD 45,500.
On the upside, the price might face resistance near the USD 47,880 level. The next major resistance is near the USD 48,000 level, above which the price could surpass USD 48,200.
Ethereum price faced sellers just below the USD 3,500 resistance and is now down less than 1% in a day. ETH corrected lower and traded below the USD 3,400 level. On the downside, the price might find support near the USD 3,350 level. The next major support is near the USD 3,320 level, below which the price might struggle to stay above USD 3,300.
On the upside, the price might struggle near USD 3,440. The next key resistance might be near the USD 3,480 level, above which the price could gain bullish momentum.
Cardano (ADA) started a downside correction from the USD 1.245 resistance zone. It declined below the USD 1.22 and USD 1.20 support levels. If the bears remain in action, the price might even test the USD 0.165 support.
BNB is moving lower towards the USD 425 support level. If
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