Tags: Crypto
Ethereum Could Overthrow Bitcoin Within Five Years

Ethereum Succeeded While Altcoins and Bitcoin Still Struggle

Ethereum performed well, which is now holding gains of more than USD 2,350. XRP/USD began to form a support base over the USD 1.300 level.

The bitcoin price started to decline after a failed attempt to be above USD 55,500. BTC is currently trading below USD 54,000, which broke the USD 55,000 support level. The bears might push the price below USD 53,200 in case of more losses.

Most significant altcoins are holding essential supports.

The Price of Ethereum

 

The price of Ethereum outpaced bitcoin and gained pace over USD 2,350. Ethereum even broke the resistance of the USD 2,400 and tested the zone of the USD 2,450. It began to consolidate gains over USD 2,400, with crucial support near the level of the USD 2,350.

The level of the USD 2,450 has immediate resistance. The following key barrier is near the level of USD 2,500. It is above the price that could rally to an all-time high.

The Value of Bitcoin

 

In the last three sessions, the price of bitcoin remained below USD 56,000. BTC even settled below the level of USD 55,000. Moreover, it is struggling to stay above the level of USD 54,000. In case of a downside break, the price could show USD 53,200. Any more losses might produce a drop towards the level of USD 52,000 in the following sessions.

On the other hand, the initial resistance is close to the level of USD 55,000. The first key resistance is now forming close to the level of USD 55,500 for a decent recovery.

Overall, the price of bitcoin is getting below USD 55,000. It seems like it might continue to decline towards the USD 53,200 or even USD 52,000.

Binance Coin settled above the level of USD 525 and even USD 530. BNB began to consolidate close to the level of USD 550. I produced an immediate resistance near USD 565. The primary resistance is close to USD 580. Therefore, the price might show USD 600.

Cardano is again stuck close to the USD 1.200 and the level of USD 1.220. If the bulls return, the price could increase towards the USD 1.285 level. However, there is a chance of a drop towards the USD 1.050 zone.

Dogecoin continued to decline and even failed to stay over the USD 0.300 level. Now it is testing the support of USD 0.280. It is possible to test the level of USD 0.265. The next significant support is close to the USD 0.250 level. On the other hand, it is above USD 0.320, a must for a new increase.

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