Bitcoin and Ethereum Move Higher, Altcoins Accelerate
- Bitcoin price is up nearly 5% with a move above USD 30,000.
- Ethereum cleared the USD 1,850 resistance, XRP neared USD 0.40.
- SOL and ADA are up 9%-12%.
Bitcoin price remained well bid above the USD 28,500 support zone, formed a base, and started a fresh increase above the USD 29,200 resistance. It is currently (04:06 UTC) showing positive signs near USD 30,360 and is up almost 5% in a day and is unchanged in a week.
Similarly, most major altcoins started a steady increase. ETH is back above the USD 1,850 resistance zone and is up 6% in a day, but is still down 8% in a week. XRP is eyeing an upside break above USD 0.40. ADA rallied 12% and surpassed the USD 0.50 resistance.
Total market capitalization
Bitcoin price
After forming a strong base above USD 28,500, bitcoin price started a steady increase. BTC was able to surpass USD 30,000 and moved into a positive zone. The next key resistance is near USD 30,500. A clear move above the USD 30,500 level might start a sharper increase. In this case, it could rise toward USD 32,000.
On the downside, an immediate support at USD 29,500. The main weekly support is near the USD 28,500 level, below which the price could face a strong selling pressure.
Ethereum price
Ethereum price remained strong above the USD 1,700 level and started a steady increase above the USD 1,850 resistance zone. On the upside, an immediate resistance is near the USD 1,920 level. The next major resistance is near USD 1,950, above which the price could even clear USD 2,000.
If there is a downside correction, the price might find bids near USD 1,820. The next major support is near the USD 1,750 level.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) started a strong increase from the USD 0.45 support zone. There was a clear move above the USD 0.48 and USD 0.50 resistance levels. The next major resistance is USD 0.520.
BNB is trading above the USD 315 level. An immediate resistance is near the USD 320 level. A clear move above the USD 320 level could push the price higher, erasing all its weekly losses.
Solana (SOL) is up over 9% and trading above the USD 45 resistance zone. The next key resistance is near the USD 48 level, above which it may perhaps visit the USD 50 resistance.
DOGE is recovering from the USD 0.080 support zone. It is trading above the USD 0.0840 level and eyeing more gains above USD 0.0850. The next major hurdle is near USD 0.0880.
XRP price is up 4% and approaching the USD 0.40 resistance. A clear move above USD 0.40 might call for a move towards USD 0.42. The next key barrier is near USD 0.45.
Other altcoins market today
Many altcoins are in the green zone, including DOT, AVAX, SHIB, MATIC, CRO, NEAR, XMR, XLM, LINK, ALGO, and MANA. Out of these, AVAX gained over 11% and tested the USD 27 resistance zone. GMT is up 31%, while SNX and EGLD jumped 17% and 18%, respectively.
Overall, bitcoin price is showing positive signs above the USD 30,000 level. If BTC clears the USD 30,500 resistance area, it could gain bullish momentum and rise steadily towards the USD 32,000 level in the near term.
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