05 Apr 2022 · 2 min read

Bitcoin and Ethereum Still Range-Bound, LUNA Gains Traction

 

  • Bitcoin price is trading in a range below USD 47,000.
  • Ethereum is stuck near USD 3,500, XRP is consolidating near USD 0.82.
  • LUNA accelerated toward USD 120.

Bitcoin price recovered losses and climbed above the USD 46,000 level. BTC even surpassed the USD 46,500 resistance zone. It is currently (11:48 UTC) trading in a range near USD 46,700 and might test USD 47,000. The price is now up over 1% in a day

Besides, most major altcoins are trading in a range. ETH is consolidating near USD 3,500 and facing resistance near USD 3,550. XRP might correct lower if it stays below the USD 0.835 level. ADA is consolidating near the USD 1.20 level.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a close above USD 46,000, bitcoin price extended its increase. BTC climbed above the USD 46,500 level, but it is facing a major resistance near the USD 47,000 level. The next key resistance is near the USD 47,500 level. A clear move above the USD 47,500 level may perhaps start a stronger increase to USD 48,800 or even USD 49,200.

If not, there is a risk of a fresh decline below the USD 46,000 support. The next major support is near USD 45,500, below which the price might revisit the USD 45,000 support.

Ethereum price

Ethereum price is consolidating near the USD 3,500 level and is up over 1% in a day. An immediate resistance is near the USD 3,550 level. The next key resistance might be near the USD 3,580 level, above which the price could gain bullish momentum in the near term.

On the downside, an immediate support is near the USD 3,480 level. The next major support is near the USD 3,450 level. If there is a downside break below USD 3,450, the bulls might even struggle to protect the USD 3,400 level. 

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) is stuck near the USD 1.20 pivot level. On the upside, an initial resistance is near the USD 1.22 level. The next stop could be USD 1.245, where the bears might take a stand.

BNB is consolidating gains near the USD 455 level. If the bulls remain in action, the price could rise towards the USD 465 level. The next major resistance may possibly be near the USD 480 level.

Solana (SOL) is trading in a range near the USD 132 support. If it stays above the USD 130 level, the bulls might attempt a fresh increase. In this case, the price might rise towards the USD 140 level.

DOGE is trying to gain pace above the USD 0.150 resistance but is still down almost 1% in a day. However, it seems like the price may soon test USD 0.154. Any more gains could send DOGE toward USD 0.162.

XRP price is still trading near the USD 0.82 support. If there is a bearish reaction, the bulls might appear near USD 0.805. On the upside, the USD 0.85 level is a major resistance.

Other altcoins market today

A few altcoins are up over 5%, including NEAR, XMR, RUNE, LUNA, APE, CELO, and MINA. Out of these, LUNA jumped more than 5% and neared the USD 120 level, increasing its weekly gains to 21%.

To sum up, bitcoin price is consolidating well above the USD 46,000 level. To gain bullish momentum, BTC must gain pace above the USD 47,000 and USD 47,500 levels.

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