25 May 2022 · 2 min read

Bitcoin and Ethereum Recover Losses, ETC and KAVA Rally

 

  • Bitcoin remained well bid above USD 28,500 and returned above USD 30,000.
  • Ethereum is back above USD 2,000, XRP is facing resistance above USD 0.432.
  • ETC and KAVA are up 15%.

Bitcoin price declined below the USD 29,200 support zone. However, BTC remained well bid above the key USD 28,500 support zone. It is currently (04:10UTC) trading above USD 30,140 and is up 3% in a day, trimming its weekly losses to almost 1%.

Similarly, most major altcoins are recovering losses. ETH is back above the USD 2,000 resistance zone. XRP spiked below USD 0.40 before recovering. ADA could revisit the USD 0.55 resistance.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a fresh decline, bitcoin price found support above the USD 28,500 level. BTC remained well bid and started a fresh increase above the USD 30,000 resistance level. On the upside, the first key resistance is near USD 30,500. The next key resistance is near the USD 31,200 level, above which the price could rise steadily.

An immediate support is near the USD 29,500 level. The next major support is near the USD 29,200 level, below which the price could revisit the USD 28,500 support zone.

Ethereum price

Ethereum price also recovered losses from the USD 1,920 support zone. ETH climbed above the USD 1,950 and USD 2,000 resistance levels. ETH is up 1% in a day and down 4% in a week. On the upside, an immediate resistance is near the USD 2,020 level. The next major resistance is near USD 2,080, above which the price could gain bullish momentum.

On the downside, an initial support is near the USD 1,950 level. The next key support is near the USD 1,920 level, below which the decline might accelerate.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) spiked below the USD 0.50 support before the bulls emerged. The price is now back above USD 0.52. The key breakout zone is still near the USD 0.55 level, above which the price could rise to USD 0.60.

BNB is gaining pace above the USD 325 resistance. It even cleared USD 332 and might continue to climb. On the upside, the next major resistance is near the USD 350 level.

Solana (SOL) found support near USD 47 and recovered to USD 50. A close above the USD 50 and USD 52 levels might start a stronger increase. If not, it could dive to USD 45.

DOGE settled below the USD 0.0850 level. It is now consolidating above the USD 0.082 level. A clear move above the USD 0.085 resistance could set the pace for a move towards USD 0.090.

XRP price is still consolidating above the USD 0.40 level. On the upside, the USD 0.432 level is an immediate hurdle. The key barrier is now forming near USD 0.45.

Other altcoins market today

Many altcoins are rising, including DOT, MATIC, LTC, CRO, NEAR, BCH, XMR, ETC, XTZ, AAVE , BSV, and KAVA. Out of these, ETC and KAVA gained 15% and surpassed USD 25 and USD 2.9, respectively. ETC is also up almost 16% in a week, while KAVA jumped 10%. 

Overall, bitcoin price is gaining pace above USD 29,500 and USD 29,800. However, BTC must clear USD 30,500 convincingly to start a steady increase in the coming sessions.

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