08 Feb 2022 · 2 min read

Bitcoin and Ethereum Keep Gains Above Key Hurdles, MATIC, SHIB, and XRP Rally

 

  • Bitcoin price rallied above the USD 43,500 resistance zone.
  • Ethereum climbed above USD 3,120, XRP surged 21%.
  • MATIC rallied 14%, and SHIB is up almost 19%.

Bitcoin price remained in a positive zone above the USD 40,000 resistance. BTC cleared the USD 43,500 resistance level and spiked towards USD 44,500. It is currently (04:09 UTC) consolidating gains near USD 44,200.

Similarly, most major altcoins are gaining bullish momentum. ETH was able to settle above the USD 3,120 resistance level. XRP surged 21% and surpassed the USD 0.88 level. ADA broke the USD 1.22 resistance level.

Total market capitalization

Source: www.tradingview.com

 

Bitcoin price

After a strong surge above USD 40,000, bitcoin price was able to clear the USD 43,500 resistance zone and test the USD 44,500 resistance zone. The next major resistance is near the USD 45,000 level, above which the price could accelerate higher.

On the downside, an immediate support is near the USD 43,800 level. The next key support is now forming near the USD 43,500 level, below which the price could start a downside correction.

Ethereum price

Ethereum price also gained bullish momentum above the USD 3,000 level. ETH cleared the USD 3,120 resistance and is now trading near USD 3,150 while the immediate resistance is at USD 3,200. The next key resistance is near USD 3,250, where the bears could take a stand.

An initial support is near the USD 3,120 level. The next major support is near USD 3,020, below which there is a risk of a sharper decline.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) is up almost 7% and there was a move above the key USD 1.20 resistance zone. It even surpassed the USD 1.22 resistance zone and is showing positive signs. The next major resistance is near the USD 1.25 level.

Binance coin (BNB) spiked higher and tested the USD 440 resistance zone, where the bears emerged. If there is a fresh increase, the price may perhaps break the USD 440 resistance and rise towards the USD 450 hurdle.

Solana (SOL) is struggling to clear the USD 120 resistance level. If there is a clear upside break above USD 122, the price might rise towards the USD 132 level. Conversely, it might drop to test the USD 105 support.

DOGE is moving higher and trading above the USD 0.162 resistance. The next key resistance is near the USD 0.175 level. Any more gains may possibly send the price towards the USD 0.188 level in the coming sessions.

XRP price is up 21% and there was a clear move above the USD 0.80 level. The price even surpassed the USD 0.85 resistance level and might continue to rise. The next major stop for the bulls could be near the USD 0.92 level.

Other altcoins market today

Many altcoins are up over 5%, including LUNA, AVAX, SHIB, CRO, LTC, LINK, UNI, ALGO, TRX, BCH, XLM, and FMT. Out of these, MATIC rallied 14% and surpassed the USD 2.0 level, increasing its weekly gains to 23%. SHIB jumped 19% in a day and 58% in a week, surpassing USD 0.0000338. 

Overall, bitcoin price is gaining bullish momentum above the USD 43,500 level. If the bulls remain in action, BTC could even climb above the USD 45,000 level.

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