Bitcoin and Ethereum Accelerate, YFI Extends Gains
- Bitcoin price accelerated above USD 48,000.
- Ethereum is back above USD 4,000, XRP is nearing USD 0.90 again.
- YFI rallied 13% and surpassed the USD 36,500 level.
Bitcoin price extended decline below the USD 46,500 level. However, BTC bulls remained active near the USD 45,500 support zone. It is currently (04:22 UTC) up 3.5% in a day and is trading above USD 48,500 again.
Similarly, most major altcoins are also correcting higher. ETH is inching higher above USD 4,000, while XRP is trimming losses and eyeing USD 0.90 again. ADA found support near USD 1.20 and recovered above USD 1.25.
Total market capitalization
After another decline, bitcoin price found support near the USD 45,500 zone. BTC formed a base above USD 45,500 and started a fresh upward move. It surpassed the USD 48,000 resistance zone and is now trading above USD 48,500.
On the downside, an initial support is near the USD 46,200 level. The next major support is near USD 45,500, below which the price may perhaps decline further.
Ethereum price also found support near USD 3,750 and started a fresh increase. ETH increased more than 3%, is back above USD 4,000 and it might test USD 4,100.
If there is a fresh decline, the price might find support near USD 3,800. The next key support is near the USD 3,750 level, below which the price might test USD 3,650.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) found a strong buying interest near the USD 1.20 level. The price is now rising and trading above USD 1.25. To continue higher, the bulls must gain strength above USD 1.235.
Binance coin (BNB) was stable above the USD 500 handle before breaking the USD 525 resistance zone and moving above USD 530.
Solana (SOL) traded close to the USD 165 support level and is now recovering above the USD 175 level. It might test the USD 188 resistance zone, while the main hurdle is near the USD 200 level.
DOGE is trying to recover above the USD 0.170 level. The first key resistance is near the USD 0.175 level, above which the price could test USD 0.188. If not, it may possibly decline towards the USD 0.162 level.
XRP price started recovering above the USD 0.850 level and broke the USD 0.88 resistance level. The next major resistance is near USD 0.90, above which the price could test USD 0.920.
Other altcoins market today
A few altcoins are up over 5%, including YFI, REV, IOTX, HNT, AVAX, XMR, and LUNA. Out of these, YFI was able to gain strength for a move above USD 36,500. It’s one of the best performers today too, as YFI jumped 13% in a day, increasing its weekly gains to 88%.
Overall, bitcoin price is moving higher towards USD 49,000. If BTC settles above USD 49,000, it could continue to rise towards the USD 50,000 level in the coming sessions.