Bitcoin and Ethereum Trade in Contracting Range, ETC Trims Gains, CELO Accelerates

cryptonews.com:

Bitcoin price attempted a fresh increase above the USD 30,000 level. However, BTC struggled to clear the range resistance near USD 30,300 and USD 30,500. It is currently (12:00 PM UTC) trading near USD 29,400 and is almost unchanged in a day and down over 2% in a week.

Similarly, most major altcoins are trading in a key range. ETH failed to stay above USD 2,000 and corrected lower. XRP could extend losses below the USD 0.40 support. ADA is holding gains above the USD 0.50 support.

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After a steady increase, bitcoin price settled above USD 30,000. However, BTC struggled to clear the key USD 30,300 and USD 30,500 resistance levels and moved back below USD 30,000. After breaching the USD 29,500 support, the next major support is near the USD 29,200 level. Any more losses could send the price towards the range support at USD 28,500.

On the upside, the first key resistance is near USD 30,300. The next key resistance is near the USD 30,500 level, above which the price could start a stronger increase.

Ethereum price attempted a fresh increase above the USD 2,000 resistance. However, ETH failed to clear the USD 2,020 resistance zone. It is back below USD 2,000 and is testing USD 1,950. ETH is down more than 1% in a day and 6% in a week. The next key support is near the USD 1,920 level, below which the price could gain bearish momentum.

On the upside, the bears might remain active near USD 2,000. The next major resistance is near USD 2,020, above which the price could rise towards the USD 2,080 resistance. 

Cardano (ADA) failed to rise towards the USD 0.55 resistance zone. It is back below USD 0.532 and might decline towards the USD 0.50 support. Any more losses could initiate a stronger correction.

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