Bitcoin and Ethereum Rally Fades, EGLD, WAVES, and GRT Jump
- Bitcoin price jumped above USD 41,000 before trimming most of its gains.
- Ethereum is back above USD 2,600, XRP is still consolidating above USD 0.75.
- EGLD, WAVES, and GRT are up over 14%.
Bitcoin price gained bullish momentum after it broke the USD 40,000 resistance. BTC jumped over 5% and even traded above USD 41,500. However, the bears appeared and the price is currently (04:00 UTC) back near USD 39,100. BTC is still 1% up in a day.
Similarly, most major altcoins are trimming gains. ETH spiked above USD 2,700 before it dropped to USD 2,620. XRP is still struggling to clear the USD 0.80 resistance. ADA is consolidating above the USD 0.80 pivot level.
Total market capitalization
After a clear move above USD 40,000, bitcoin price gained bullish momentum. BTC even rallied above USD 41,250 and USD 41,500. However, it turned out to be a false break as the price trimmed most of its gains and traded below USD 40,000. It is now consolidating below the USD 39,500 level. If there is a fresh increase above USD 40,000, the price might test USD 40,800.
If not, the next key support is near the USD 38,550 level, below which the price may perhaps retest USD 38,000.
Ethereum price gained over 5% and there was a move above the USD 2,650 resistance. ETH even spiked above USD 2,700, but it failed to continue higher. It is now back below USD 2,650 but is still up 3% in a day. The next key support is near the USD 2,600 level, below which the price might decline to USD 2,550.
If the bulls attempt a fresh increase above USD 2,700, the price could rise to USD 2,750. The next resistance is near the USD 2,880 level.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) settled above the USD 0.80 level. It is now facing resistance near USD 0.82. A clear move above the USD 0.82 level might send the price towards the USD 0.85 level.
BNB spiked above the USD 380 level, but it failed to extend gains. It is now trading near USD 370 and if the bears remain in action, the price could decline towards the USD 365 level.
Solana (SOL) is up over 3% and trading above the USD 82 level. A close above the USD 85 and USD 86 levels may perhaps send the price further higher towards the USD 95 level.
DOGE attempted an upside break above the USD 0.115 resistance but failed. It is now consolidating near USD 0.113. If there is another attempt and the bulls succeed, the price might rise to USD 0.120.
XRP price is moving higher and recently tested the USD 0.78 resistance before correcting. The main breakout resistance is still near the USD 0.80 level, above which the price might rise steadily in the near term.
Other altcoins market today
Several altcoins are up over 4%, including DOT, CRO, LINK, UNI, EGLD, XMR, FTM, GRT, EOS, AAVE, and BAT. Out of these, EGLD rallied 14% and tested the USD 165 level, while WAVES jumped above USD 30 and is now up 17% in a day, and GRT increased 22% and surpassed USD 0.44, before correcting lower. All three are now up 24%-35% in a week.
Overall, bitcoin price briefly rallied above USD 41,000, but trimmed most of its gains. A daily close above USD 40,000 could set the pace for a stronger upward move.