01 Apr 2022 · 2 min read

Bitcoin and Ethereum Try to Recover Losses, WAVES and ZIL Trim Gains

 

  • Bitcoin price returned above USD 45,000.
  • Ethereum neared USD 3,300 again, XRP is consolidating near USD 0.82.
  • ZIL and WAVES trimmed gains but are still up over 5%.

After bitcoin started a fresh decline from the USD 48,000 resistance zone and spiked below the USD 45,000 support zone, it managed to return above this level and is currently (11:31 UTC) trading near USD 45,200 again. BTC is down 4% in a day.

Similarly, most major altcoins are trying to recover losses. ETH declined below USD 3,300, but it remained stable above USD 3,200. XRP managed to stay above the USD 0.80 support. ADA declined below USD 0.15.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a sharp bearish wave, bitcoin price spiked below the USD 45,000 level. However, the bulls were active near the USD 44,000 level. The price is now attempting a recovery wave above USD 45,000.  On the upside, the price might face resistance near the USD 45,500 level. The next major resistance is near the USD 46,000 level, above which the price could rise towards the USD 47,000 level.

On the downside, an immediate support is near the USD 44,200 level. The next major support is near USD 44,000, below which the price could accelerate losses in the near term.

Ethereum price

Ethereum price declined below the USD 3,300 level and is now down 3% in a day. ETH even spiked below USD 3,250, but the bulls were active above the USD 3,200 level and the price neared USD 3,300 again. A downside break and a close below the USD 3,200 support could spark a sharper decline in the near term.

On the upside, the price might face resistance near USD 3,320. The next key resistance might be near the USD 3,350 level, above which the price may perhaps test USD 3,450. 

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) nosedived below the USD 1.10 level and tested the USD 1.05 support. It is showing a few signs of an upside correction, but the USD 1.20 level could act as a strong resistance in the near term.

BNB declined and even traded below USD 420. The price found support near USD 412 and is currently correcting higher above USD 430. To start a stronger increase, the price must surpass USD 435.

Solana (SOL) is trading above the USD 120 pivot level. On the upside, it is facing resistance near the USD 132 level. A clear move above USD 132 could set the pace for a larger increase.

DOGE dived and tested the key USD 0.132 support zone, before recovering higher. The next key support is near the USD 0.125 level, below which the bears may test the USD 0.120 support.

XRP price managed to recover and settle above USD 0.80. If there is a fresh increase, the bears might remain active near USD 0.85. On the downside, a close below USD 0.80 could spark a sharper decline.

Other altcoins market today

Many altcoins are down over 5%, including LUNA, AVAX, DOT, SHIB, MATIC, CRO, LTC, ATOM, LINK, UNI, and TRX. Meanwhile, ZIL is still up 5%, trading near USD 0.2, after it surpassed USD 0.22 earlier today. WAVES corrected lower from almost USD 56 to USD 55, but is still up 9% in a day.

To sum up, bitcoin price corrected lower sharply and even declined below USD 45,000 before recovering. If BTC remains above USD 44,000, it could attempt a fresh increase above USD 46,000.

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