07 Feb 2022 · 2 min read

Bitcoin and Ethereum Consolidate Gains, XRP Surges

 

  • Bitcoin price is consolidating gains above USD 42,000.
  • Ethereum is stable above USD 3,000, XRP surged over 16% and surpassed USD 0.77.
  • DOGE and AVAX are gaining bullish momentum.

Bitcoin price gained pace after it settled above the USD 41,200 level. BTC even cleared the USD 42,500 level but faced sellers near USD 43,000. It is currently (11:54 UTC) consolidating and the bulls might eye a fresh increase above USD 43,000.

Similarly, most major altcoins are consolidating gains. ETH is trading in a positive zone above USD 3,000. XRP rallied above the USD 0.735 and USD 0.750 resistance levels. ADA spiked towards USD 1.20 before correcting lower.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a strong upward move, the bitcoin price was able to settle above USD 42,000. BTC even surpassed the USD 43,000 resistance zone. However, the price is now facing resistance near USD 43,000. A close above the USD 43,000 level might start another increase. The next major resistance sits near the USD 43,500 level, above which the price could rise to USD 44,200.

On the downside, immediate support is near the USD 42,000 level. The next key support is USD 41,200, below which the price could slide to USD 40,000.

Ethereum price

Ethereum price settled above the USD 3,000 level, with a bullish angle. ETH even spiked above USD 3,100, but there was no upside continuation. The key hurdle is near USD 3,120, above which the price could accelerate higher towards the USD 3,350 level.

Initial support is near the USD 3,020 level. The next major support is near USD 3,000, under which the price may perhaps test USD 2,880.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) gained pace for a move above the USD 1.175 level. It even surged above USD 1.188 level, but there was no test of USD 1.20. ADA is now consolidating near USD 1.18, with a major support at USD 1.165.

Binance coin (BNB) is stuck near the USD 426 level. An immediate resistance is near the USD 432 level. A clear move above USD 432 might send the price towards the USD 445 level. If not, it might drop towards the USD 405 support.

Solana (SOL) extended the increase above the USD 117 level. It even spiked higher to test USD 120. If the bulls remain in action, the price could rise further towards the USD 132 level in the near term.

Dogecoin (DOGE) is showing positive signs above the USD 0.155 resistance level. The next key resistance is near the USD 0.162 level. Any more gains could open the doors for a move towards the USD 0.180 level.

XRP price is up 16% and there was a clear move above the USD 0.77 level. An immediate resistance is near USD 0.780, above which the price may test USD 0.80. The next resistance is near USD 0.82.

Other altcoins market today

Many altcoins are up over 5%, including AVAX, SHIB, MANA, XLM, ETC, GALA, FLOW, GRT, and QNT. Out of these, LEO rallied 14% and surpassed the USD 5.2 level.

To sum up, bitcoin price is showing positive signs above the USD 42,000 level. If BTC clears USD 43,000 and USD 43,200, it could rise towards the USD 45,000 level in the near term.

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