Bitcoin and Ethereum Trim Gains, Altcoins Correct Lower Too

cryptonews.com:

Bitcoin price spiked towards USD 24,500 before it faced sellers. BTC is currently (11:49 UTC) trading near USD 23,800 and is still up 2% in a day and almost 3% in a week.

Similarly, all major altcoins are correcting their gains. ETH is trading below USD 1,700 again, while XRP failed near the USD 0.388 resistance zone, and ADA dropped towards USD 0.52.

Total market capitalization

After a close above USD 24,000, bitcoin price spiked higher. It traded close to the USD 24,500 level before the bears emerged and pushed the price below USD 23,800. If the bulls manage to push BTC toward USD 24,000 again, an immediate next resistance is at USD 24,250. The next major resistance could be USD 24,450, above which the price could rise towards the USD 25,000 resistance.

On the downside, an initial support is near the USD 23,500 level. The next major support is near the USD 23,200 zone, below which the price might accelerate lower.

Ethereum price spiked above the USD 1,750 resistance. However, ETH struggled to test the USD 1,800 barrier and corrected lower. The price is now trading just below the USD 1,690 level and is up almost 3% in a day and 7% in a week. On the upside, the price might face resistance near USD 1,750. The next key resistance is near the USD 1,780 level, above which the price could accelerate higher.

On the downside, the next major support is near the USD 1,650 zone, below which the price might start a stronger downside correction.

Cardano (ADA) is trimming its gains (it’s still up almost 5% in a day) and trading below the USD 0.535 resistance. The next major resistance on the upside is near the USD 0.55 level, above which the price could rise towards USD 0.588.

BNB gained pace above the USD 275 resistance level and broke USD