Bitcoin and Ethereum Inch Higher, CAKE and THETA Accelerate
- Bitcoin price moved above USD 42,000.
- Ethereum is testing USD 3,150, XRP is consolidating near USD 0.75.
- CAKE and THETA are up 8% and 9%, respectively.
Bitcoin price remained well bid above the USD 41,200 level and managed to break the USD 42,000 resistance level. It is currently (11:55 UTC) showing positive signs near USD 42,500 and is now up 1% in a day and 3% in a week.
Similarly, most major altcoins might start a fresh increase. ETH could gain pace if it clears the USD 3,150 resistance zone. XRP is consolidating and struggling near USD 0.75. ADA must clear USD 0.98 for upside continuation.
Total market capitalization
After a short-term decline, bitcoin price started a fresh increase above USD 41,500. BTC climbed above the USD 42,000 level and traded to a new weekly high. An immediate resistance on the upside is near the USD 42,500 level. The next key resistance could be USD 43,200, above which the price may perhaps test USD 45,000.
If there is a downside correction, the price might find support near USD 41,800. The next major support is near USD 41,500, below which the price might test USD 41,200
Ethereum price is rising above the USD 3,120 resistance and is now almost unchanged in a day and up 1% in a week. ETH might gain pace if there is a close above the USD 3,150 resistance zone. The next key resistance might be near the USD 3,220 level, above which the price could test USD 3,280.
On the downside, an immediate support is at USD 3,080. The next major support is near the USD 3,050 level.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) is consolidating above the USD 0.95 level. An immediate resistance is near the USD 0.965 level. The first key resistance is near the USD 0.98 level, above which the price could rise towards USD 1.00.
BNB is holding gains above the USD 420 level and is testing the 425 resistance level. The main resistance is now forming near the USD 432 level, above which the price could rise steadily.
Solana (SOL) is moving higher towards the USD 110 resistance zone. A clear upside break above the USD 110 level might start a stronger increase. If not, it could correct lower towards USD 102.
DOGE is trading in a range above the USD 0.140 level. If there is a downside break, the price could decline towards the USD 0.135 support. The next major support is near the USD 0.132 level.
XRP price is struggling to stay above the USD 0.75 support. On the upside, the price might face resistance near the USD 0.765 level, but the first major resistance is near the USD 0.780 level.
Other altcoins market today
A few altcoins are up over 4%, including XMR, THETA, EOS, CAKE, XEC, ZIL, BAT, ZRX, KAVA, and ICX. Out of these, CAKE and THETA are now the two best performers among the top 100 cryptoassets by market capitalization today. CAKE jumped 8% in a day and surpassed USD 9.50, while THETA rallied 9% and moved above USD 3.45.
To sum up, bitcoin price is moving higher towards the USD 42,500 level. If BTC gains momentum, it could even surpass the USD 43,200 resistance level. Conversely, it still might drop to USD 41,200.