Bitcoin Consolidates While Ethereum and Altcoins Eye Additional Gains – Cryptonews
Bitcoin price is consolidating above the USD 33,000 and USD 32,200 support levels. On the upside, BTC is facing a strong resistance near the USD 34,500 and USD 35,000 levels. It is currently (05:00 UTC) showing positive signs, but it must settle above USD 35,000 for a steady increase.
Conversely, most major altcoins are slowly gaining bullish momentum. ETH/USD cleared the USD 1,350 resistance and it seems like the bulls are aiming for more gains above USD 1,400 and USD 1,420. On the other hand, XRP/USD failed to stay in the bullish territory and it declined below USD 0.400.
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In the past few sessions, bitcoin price mostly consolidated above the USD 32,200 and USD 33,000 support levels. On the upside, the first key resistance is near the USD 34,500 level. The main resistance is now forming near the USD 35,000 level. A close above the USD 35,000 level might open the doors for a sustained upward move.
On the downside, the USD 33,200 level is a decent support. The next major support is at USD 33,000, below which the price could slide towards the USD 32,200 support zone.