11 Jan 2022 · 2 min read

Bitcoin and Ethereum Inch Higher, NEAR Rallies

  • Bitcoin price recovered above USD 41,500.
  • Ethereum is stable above USD 3,050, XRP is still below USD 0.75.
  • ROSE and NEAR gained over 11%.

Yesterday, bitcoin price extended decline below the USD 40,500 level. BTC even traded below the USD 40,000 level, but the bulls were active. The price started a sharp recovery and is currently (04:34 UTC) trading near USD 42,300.

Similarly, most major altcoins are showing a few positive signs. ETH spiked below USD 3,000 before there was a sharp upward move. XRP is still struggling to settle above the key USD 0.750 pivot level. ADA spiked below USD 1.10 before a recovery wave.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a downside break below USD 40,000, bitcoin price started a sharp recovery. BTC climbed above the USD 41,200 and USD 41,500 resistance levels. The price even surged above the USD 42,000 level. If the bulls remain in action, they might attempt a move above the USD 42,500 level. The next major resistance is near USD 43,200, above which the price might start a move towards the USD 45,000 level.

On the downside, an initial support is near the USD 41,500 level. The next key support is near USD 40,800, below which the price might revisit USD 40,000.

Ethereum price

Ethereum price also extended decline and traded below the USD 3,050 support. ETH spiked below USD 3,000, but the bulls appeared near USD 2,920. It is now rising and trading above USD 3,100. An immediate resistance is near the USD 3,150 level. The next key hurdle is near USD 3,200, above which the price might gain strength.

An initial support is near the USD 3,020 level. The next major support is near USD 3,000, below which the bears could push the price to USD 2,880. 

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) gained bearish momentum below USD 1.12 and USD 1.10. It tested USD 1.08 and there was a steady recovery. It is now rising and broke the USD 1.15 resistance. The next major resistance is near USD 1.18.

Binance coin (BNB) extended drop and tested the USD 405 level. It is now correcting higher and surpassed the USD 432 resistance, targeting USD 450 next.

Solana (SOL) tested the USD 130 level and is currently rising. The bulls are now facing a barrier near the USD 140 level. A clear break might send the price towards the USD 150 level.

DOGE is now consolidating below the USD 0.150 level. A clear move above the USD 0.150 level might start a move towards USD 0.165. If not, it could test USD 0.132.

XRP price is also consolidating below the USD 0.75 level. An immediate resistance is near the USD 0.75 level, above which the price could steadily. The next major resistance is near the USD 0.78 level.

Other altcoins market today

A few altcoins are down over 5%, including AR, BORA, RVN, LRC, RUNE, GALA, QNT, MKR, CELO, FIL, and FLOW. Conversely, NEAR, ROSE, ATOM, and MIOTA, are up more than 4%. Out of these, NEAR rallied 18% in a day, surpassed USD 16, and trimmed almost all its weekly losses, becoming the best performing cryptoasset among the top 100 coins today.

Overall, bitcoin price is gaining pace above the key USD 42,000 zone. If BTC breaks USD 42,500, the price could accelerate higher towards USD 44,000 in the near term.


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