Bitcoin and Ethereum Inch Higher, GMT and GRT Rally
- Bitcoin price cleared the key USD 39,500 resistance.
- Ethereum surpassed USD 2,920, XRP is still struggling near USD 0.65.
- GRT and GMT are the best performers today.
Bitcoin price attempted a recovery wave above the USD 39,200 resistance and climbed above the USD 39,500 resistance. It is currently (11:51 UTC) showing positive signs near USD 39,700 and might test USD 40,000. BTC is now up 2% in a day and down 4% in a week.
Similarly, most major altcoins might attempt a fresh increase. ETH broke the USD 2,900 and USD 2,920 resistance levels. XRP is still consolidating losses near the USD 0.65 zone. ADA must gain pace above USD 0.865 to start a steady increase.
Total market capitalization
After a steady increase above USD 39,200, bitcoin price was able to extend gains. BTC even broke the key USD 39,500 resistance zone. If the bulls remain in action, the price could soon test USD 40,000. A close above USD 40,000 may perhaps open the doors for a steady increase. In this case, the price might rise toward USD 40,750.
If there is a downside correction, the price might find support near the 39,200 level. The next major support is near USD 38,800, below which the price might test USD 38,200.
Ethereum price also followed a positive path above the USD 2,880 level. ETH cleared the USD 2,900 and USD 2,920 resistance levels. ETH is up almost 2% in a day and down 5% in a week. The next major resistance is near the USD 2,950 level, above which the price could aim for a move toward the USD 3,000 level.
On the downside, an initial support is near the USD 2,880 level. The next major support is near the USD 2,850 level, below which the bulls might struggle.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) is still struggling to settle above the USD 0.85 level. The next key resistance is near the USD 0.865 level, above which the price could start a steady increase.
BNB gained strength for a move above the USD 395 resistance. It even broke the USD 400 level, opening the doors for more gains. The next major resistance on the upside is near the USD 412 level.
Solana (SOL) is still consolidating near the USD 100 level. There is a key barrier forming near USD 102 and USD 105. A proper move above USD 105 might start a steady increase in the near term.
DOGE extended decline below the USD 0.140 support before recovering. The next major support is near USD 0.135, below which the price may perhaps test USD 0.135. On the upside, the USD 0.142 level might present resistance.
XRP price seems to be stuck near the USD 0.65 level. To move into a positive zone, the price must settle above the USD 0.665 level. The next major resistance on the upside might be USD 0.70.
Other altcoins market today
A few altcoins are gaining momentum, including LUNA, LTC, APE, FTT, GMT, AAVE, CAKE, GRT, CVX, KAVA, and SCRT. Out of these, GMT rallied almost 22% and broke the USD 4 level, becoming the best performer among the top 100 cryptoassets by market capitalization today. GRT jumped 13% and surpassed USD 3.40.
To sum up, bitcoin price cleared the USD 39,500 resistance level. If BTC bulls remain in action, the price could rise towards the USD 40,000 resistance zone.