Bitcoin and Ethereum Gain Bullish Momentum, Altcoins Surge
- Bitcoin price gained momentum and surpassed USD 42,000.
- Ethereum climbed above USD 2,750, XRP is attempting a close above USD 0.75.
- LUNA, XMR and NEAR are up over 12%.
Bitcoin price started a steady increase after it broke the USD 40,000 resistance. BTC was able to clear the USD 41,200 and USD 42,000 resistance levels. It is currently (11:30 UTC) showing positive signs, but there are chances of a minor downside correction.
Similarly, most major altcoins are gaining bullish momentum. ETH was able to clear the USD 2,680 and USD 2,750 levels. XRP is attempting a clear move above the USD 0.75 resistance. ADA could gain pace if it settles above USD 0.85.
Total market capitalization
After a strong bullish wave, the bitcoin price was able to settle above the USD 40,000 resistance zone. It opened the doors for more gains above USD 41,200. BTC is up over 8% and there was a move above the USD 42,000 resistance. The next major resistance is near the USD 42,500 level, above which the price might rise towards the USD 43,200 level.
If there is a downside correction, the price might find support near USD 41,650. The next key support is near the USD 41,200 level, below which the price may perhaps decline to USD 40,000.
Ethereum price also gained bullish momentum above the USD 2,650 resistance. ETH even surged above the USD 2,750 level and is currently consolidating gains. The next major resistance is near the USD 2,800 level. Any more gains might send the price towards the USD 2,880 level.
If not, there could be a downside correction towards the USD 2,650 support. The next key support is near the USD 2,620 level, below which the price might test USD 2,550.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) is slowly moving higher and attempting a close above the USD 0.85 resistance. If the bulls succeed, the price might rise towards the USD 0.88 level. The next major resistance is near the USD 0.92 level.
BNB is showing positive signs above the USD 388 resistance. However, it is facing an uphill task near USD 395 and USD 400. The next major resistance sits near the USD 412 level.
Solana (SOL) is up over 5% and is gaining pace above USD 88. The next key hurdle is near the USD 95 level, above which the price might rise steadily towards the USD 100 level.
DOGE was able to settle above the USD 0.120 and USD 0.122 levels. It seems like the price may perhaps test the USD 0.125 resistance. If there are additional gains, the price could revisit USD 0.1265.
XRP price is now attempting a close above the USD 0.75 resistance level. A successful close above USD 0.75 could open the doors for a sharp increase. The next major resistance might be USD 0.80 or even USD 0.82.
Other altcoins market today
Many altcoins are up over 5%, including LUNA, AVAX, DOT, MATIC, CRO, ATOM, LTC, NEAR, UNI, FTT, BCK, MANA, and XLM. Out of these, LUNA rallied over 20% and surpassed the USD 95 level.
To sum up, the bitcoin price is accelerating higher and it even broke USD 42,000. However, BTC seems to be in the overbought zone and there is a chance of a downside correction to USD 41,200.