Bitcoin and Ethereum Fluctuate, LUNA Down 94%, MKR Rallies
Bitcoin price settled above the USD 31,500 level. However, BTC is still facing a strong resistance above USD 32,000 and near USD 32,500. It is currently (11:48 UTC) consolidating near USD 31,600 and is almost unchanged in a day and down 16% in a week.
Similarly, most major altcoins are looking for direction. ETH is eyeing an upside break above USD 2,450. XRP failed to stay above USD 0.50. ADA struggles to reach USD 0.65.
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After struggling to stay above USD 32,000, bitcoin price corrected lower and is now consolidating above the USD 31,500 level. To accelerate higher, it must settle above the USD 32,000 level. The key breakout zone is still near the USD 32,500 level, above which the price might gain bullish momentum.
On the downside, an immediate support is at USD 31,000. The next key support is near USD 30,500, below which the price could revisit USD 30,000.
Ethereum price is moving higher above the USD 2,350 level. ETH even surpassed USD 2,400 and is currently eyeing a clear move above the USD 2,450 level. If the bulls succeed, the price could rise towards the USD 2,550 level. ETH is up almost 1% in a day and down 13% in a week.
If there is a downside correction, the price might find support near USD 2,350. The next major support is near the USD 2,300 level, below which the price might resume its decline.
Cardano (ADA) remained well bid above the USD 0.60 level but is struggling to reach USD 0.65. The next key resistance for the bulls would be near the USD 0.665 level.
BNB struggled to stay above the USD 320 level. It is moving lower towards the USD 305 level. The key breakdown support is near USD 300, below which the price might slide towards USD 288.
Solana (SOL) is down 13% and is stuck near the
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