23 May 2022 · 2 min read

Bitcoin and Ethereum Inch Higher, NEO and FTM Rally

 

  • Bitcoin price is testing USD 30,500.
  • Ethereum is approaching USD 2,100, XRP is still below USD 0.45.
  • NEO and FTM are up around 14%.

Bitcoin price is showing positive signs above the USD 29,500 pivot level and is currently (11:30 UTC) testing the USD 30,500 level, having increased almost 2% in a day. It’s still down almost 3% in a week.

Similarly, most major altcoins are also moving higher. ETH must clear USD 2,120 to gain momentum. XRP is facing a key breakout zone near USD 0.45. ADA might revisit the USD 0.60 resistance zone.

Total market capitalization

Source: tradingview.com

 

Bitcoin price

After a minor downside correction, bitcoin price was able to recover losses. BTC is testing the USD 30,500 level while the next key resistance is still near USD 31,200. A proper close above this resistance zone could fuel a stronger increase. In this case, the price may perhaps rise towards USD 32,200.

On the downside, an immediate support is near the USD 29,800 level. The main support is near the USD 29,500 level, below which the price could face selling pressure.

Ethereum price

Ethereum price remained well bid above the USD 1,950 level. ETH climbed higher and settled above the USD 2,050 level. ETH is now up almost 3% in a day and is still down almost 4% in a week. On the upside, the key hurdle is near the USD 2,120 level. A clear move above USD 2,120 may perhaps send the price higher.

An initial support is near the USD 2,000 level. The main support is near the USD 1,950 level, below which the price could gain bearish momentum.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) is showing positive signs above the USD 0.500 level. It seems like the price might rise steadily above USD 0.55. However, the bears may perhaps remain active near USD 0.60.

BNB gained pace above the USD 320 level. The bulls even pushed the price above the USD 325 level. They are now facing resistance near USD 332, above which the price might rise towards USD 350.

Solana (SOL) extended its increase above the USD 52 level. The next key resistance is near USD 55 or USD 56, above which the price could rise towards the USD 60 level. The main support is at USD 50.

DOGE is eyeing an upside break above the USD 0.090 resistance zone. A close above USD 0.090 could set the pace for a move towards the USD 0.1000 level. Conversely, the price could revisit the USD 0.0820 support zone.

XRP price is still struggling to gain pace for a move above the USD 0.450 level. If the bulls succeed, the price could rise towards the USD 0.50 level. On the downside, the USD 0.40 support holds the key in the near term.

Other altcoins market today

Many altcoins are showing positive signs, including AVAX, TRX, SHIB, MATIC, LEO, LTC, CRO, UNI, XMR, XTZ, CAKE, KLAY, and SAND. Meanwhile, FTM and NEO are up around 14%, as FTM jumped above USD 0.49 and NEO surpassed USD 12. NEO and FTM are also up 11% and 26% in a week, respectively.

To sum up, bitcoin price might start a fresh increase above USD 31,000 and USD 31,200. If the bulls continue to struggle, the price might decline towards the USD 28,500 support.

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