23 Jun 2022 · 2 min read

Bitcoin and Ethereum Inch Higher, MATIC Extends Its Rally, BNB Accelerates

 

  • Bitcoin price is moving towards USD 21,000 again.
  • Ethereum is back above USD 1,100, XRP is still stuck near USD 0.32.
  • MATIC extended its rally, BNB is up 4%.

Bitcoin price is holding the key USD 20,000 support zone and moving towards USD 21,000 again. BTC is currently (11:43 UTC) trading near USD 20,700 and is unchanged in a day and down 8% in a week. A clear move above USD 21,000 and USD 21,200 could set the tone for a stronger increase.

Similarly, most major altcoins are also eyeing an upside break. ETH must clear USD 1,120 and USD 1,150 for a fresh increase. XRP is still consolidating near USD 0.320. ADA could attempt a fresh move towards USD 0.50.

Total market capitalization
 

Source: tradingview.com

Bitcoin price

Bitcoin price seems to be forming a base near the USD 20,250 level. On the upside, an immediate resistance is near the USD 21,000 level. The first major resistance is now near USD 21,200. A clear move above the USD 21,200 level might start a fresh increase.

If not, the price might trade below the USD 20,000 support level. The next major support is near the USD 19,500 zone, below which the price could start a stronger decline.

Ethereum price

Ethereum price is also moving higher above the USD 1,100 level. On the upside, the price is facing resistance near the USD 1,120 level. The main breakout zone is near USD 1,150, above which the price could start a steady increase. The next major resistance might be near USD 1,250. ETH is almost unchanged in a day and down 10% in a week.

On the downside, an initial support is at USD 1,065. The next major support is near USD 1,050, below which the price might revisit the USD 1,000 zone.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) is consolidating above the USD 0.465 support. The first major resistance is near the USD 0.48 level, above which the price could rise towards the main USD 0.50 resistance.

BNB is up over 4% and is trading above the USD 225 level. The main resistance is near the USD 230 level. A close above the USD 230 resistance could open the doors for a move towards the USD 250 level.

Solana (SOL) is also rising and trading well above the USD 35 resistance. It is approaching the USD 38 resistance zone, above which the price may perhaps test the key USD 40 zone.

DOGE is trading above the USD 0.0620 pivot zone. An initial resistance is near USD 0.065. A close above the USD 0.065 level could open the doors for a move towards the USD 0.070 level.

XRP price is trading in a tiny range near the USD 0.32 zone. The next move could be significant and the price could move stronger in both directions.

Other altcoins market today

Many altcoins are up over 5%, including AVAX, UNI, MATIC, LTC, XLM, ATOM, MANA, SAND, AAVE, MIOTA, and GRT. Out of these, MATIC rallied 23% and surpassed the USD 0.50 level, increasing its weekly gains to 16%.

To sum up, bitcoin price is showing positive signs above the USD 20,500 level. However, BTC must clear USD 21,000 and USD 21,200 to start a steady increase.

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