A quick 3min read about today's crypto news!
Bitcoin price formed a support base above the USD 40,600 and USD 40,800 levels. As a result, BTC started a fresh increase and it cleared the main USD 43,500 resistance. It is currently (04:28 UTC) trading above USD 44,000 and it could face hurdles near USD 45,000.
Similarly, most major altcoins are showing positive signs. ETH surged almost 10% and it cleared the USD 3,100 level. XRP traded above USD 0.950, but it is still below the USD 1.00 resistance. ADA could gain pace once it clears the USD 2.32 level.
Total market capitalization
After another decline, bitcoin price found support near the USD 40,800 zone. BTC formed a support base near USD 41,000 and recently started a fresh increase. There was a clear break above the USD 43,200 and USD 43,500 resistance levels. The price also cleared the USD 44,000 level, but stayed below USD 44,500. The main weekly resistance is near the USD 45,000 level.
On the downside, an immediate support is near USD 43,500. The next key support is now forming near USD 43,200, below which the price could revisit the USD 42,000 support.
Ethereum price started a strong increase above the USD 3,000 and USD 3,050 resistance levels. ETH even cleared USD 3,100 and is now facing resistance near USD 3,150. If the price clears USD 3,150 and USD 3,200, it could extend its rally in the near term.
If there is a downside correction, the price might find support near USD 3,050. The main support is now forming near the USD 3,000 level.
Cardano (ADA) remained stable above the USD 2.12 and USD 2.10 levels. It is back above USD 2.20. On the upside, the bulls are facing hurdles near USD 2.32. The main breakout zone for a larger increase is near the USD 2.50 level.
Litecoin (LTC) gained pace for a fresh move above the USD 150 level. An immediate resistance is near the USD 155 level. The main resistance is near the USD 165 level, above which the bulls might test the USD 188 level. On the downside, the USD 142 level is a decent support.
Dogecoin (DOGE) is showing positive signs above the USD 0.200 level. However, the bulls are facing resistance near USD 0.212. The next key resistance is near USD 0.220, above which the price might rise towards the USD 0.232 level in the near term.
XRP price is recovering and trading above the USD 0.950 pivot level. An immediate resistance is near the USD 0.988 level. The key breakout zone is near USD 1.00. A close above USD 1.00 could start a steady increase towards USD 1.05 and USD 1.12. If not, the price could revisit USD 0.900.
Many altcoins are up over 10%, including PERP, UNI, SUSHI, XDC, CRV, XEC, AAVE, REN, DYDX, MINA, COMP, SNX, and EGLD. Out of these, DYDX rallied 50% and surpassed the USD 20 level, while UNI is now trading above USD 25.
Overall, bitcoin price is trading in a positive zone above USD 43,500. If BTC clears USD 44,500 and USD 45,000, it could accelerate higher in the coming sessions.