Bitcoin extended its price discovery to the $23k region before facing some resistance. It traded at a record high of $23,000 before correcting downward. The price nosedived below the $23k and went further below $22,500.
Major signals
- BTC is trading above $22.5k, and there are upsides looks imminent
- XRP corrects to trade below the $0.600 level
- The price of ETH went up to $675 before the lower correction
The price is trying to recover the fall and consolidate the $23k region properly. A fall below the new support around the $22k mark may see Ethereum dip further.
The correction was also experienced in other altcoins like ETH, BNB, LINK, etc. Ethereum fell to $650 from $675. Ripple is also trading below $0.600.
Litecoin is the altcoin that outperformed others by recording a 15% gain as it currently trades at $105.
Do you think the increase in LTC will continue? What’s your thought on BTC correction?
