Bitcoin and Ethereum Fluctuate Sharply, CAKE and CELO Accelerate

• Bitcoin price failed near the USD 47,500 resistance.
• Ethereum dropped below USD 3,500, XRP is consolidating below USD 0.85.
• CAKE and CELO are up 8% and 9%, respectively.

Bitcoin price started a fresh increase from the USD 44,500 zone and even jumped above USD 47,300 before dropping sharply. It is currently (04:22 UTC) struggling near USD 46,000 and is unchanged in a day.

Besides, most major altcoins are also fluctuating. ETH climbed above USD 3,550 before dropping suddenly. XRP must clear USD 0.85 to revisit the USD 0.90 resistance, while ADA hovers near the USD 1.20 resistance.

Total market capitalization

Bitcoin price

After a fresh increase, bitcoin price faced sellers near the USD 47,400 level and even dropped below the USD 46,000 support, before recovering. The next major support is near USD 45,500, below which the price might test USD 45,000. Any more losses may possibly send the price towards the USD 44,200 level.

On the upside, the price might face resistance near the USD 47,000 level. The main weekly resistance is near the USD 47,500 level, above which the price could start a move towards USD 50,000.

Ethereum price

Ethereum price remained in a positive zone above the USD 3,400 level. ETH even climbed above the USD USD 3,550 level but dropped below USD 3,500 again. However, it’s still up 1% in a day. The next major support is near the USD 3,420 level, below which the price could decline to USD 3,300.

On the upside, the price might struggle near USD 3,580. The next key resistance might be near the USD 3,650 level, above which the price may perhaps rise to USD 3,800. 

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) is now consolidating below the USD 1.20 level. To start a fresh increase, the price must settle above USD 1.20. The next key resistance is near USD 1.245.

BNB made an attempt to clear the USD 450 resistance zone. However, it faced sellers near USD 454 and USD 455. It is now consolidating below USD 450.

Solana (SOL) rallied above the USD 125 resistance zone. It even spiked above USD 140 and is currently consolidating gains near USD 135. If there is a fresh increase, the price might rise to USD 150.

DOGE is stuck below the USD 0.15 resistance zone. An immediate support is near the USD 0.142 level. The next key support is near the USD 0.135 level. If there are more downsides, the price could test the USD 0.128 support.

XRP price is consolidating near the USD 0.82 support. The main resistance is near USD 0.85. A close above USD 0.85 might send the price towards the USD 0.90 level.

Other altcoins market today

A few altcoins are up over 5%, including NEAR, ICP, CAKE, CVX, CELO, MINA, KDA, and BORA. Out of these, MINA gained over 15% and traded above the USD 3 level, before correcting. Meanwhile CAKE surpassed USD 9.85, while CELO reached USD 4.05, both increasing their weekly gains by around 22%.

Overall, bitcoin price is trading well below the USD 47,500 resistance. If BTC declines below USD 45,500, there is a risk of a move towards the USD 44,200 or even USD 43,500 levels.

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