21 Mar 2022 · 2 min read

Bitcoin and Ethereum Try to Recover, AVAX Outperforms

 

  • Bitcoin price returned above USD 41,000.
  • Ethereum targets USD 3,000, XRP is back above USD 0.80.
  • AVAX accelerated and hit USD 90.

Bitcoin price corrected lower from the USD 42,250 zone but BTC remained well bid above the USD 40,500 level and started a fresh increase. It is currently (11:56 UTC) showing positive signs near USD 41,300 and might continue moving higher. BTC is still down 1% in a day.

Similarly, most major altcoins are also recovering losses. ETH is now unchanged in a day and might attempt to clear the USD 2,950 and USD 3,000 resistance levels. XRP might test the USD 0.82 resistance soon. ADA is facing hurdles near the USD 0.92 resistance zone.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a downside correction, bitcoin price found support near the USD 40,500 level. BTC formed a base and is currently moving higher above USD 41,000. An immediate resistance is near the USD 42,000 level. The next key resistance is near the USD 42,250 level, above which the price might start a steady increase.

If there is another decline, the price might find support near the USD 40,500 level. The next key support is near USD 40,000, below which the price may perhaps gain bearish momentum. 

Ethereum price

Ethereum price is rising and trading above USD 2,900. On the upside, an initial resistance is near the USD 2,950 level. The next major resistance is near the USD 3,000 level, above which the price might accelerate.

On the downside, an initial support is near the USD 2,850 level. The next major support is near the USD 2,820 level, below which the price might test the USD 2,750 support zone.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) is consolidating near the USD 0.90 level. The key breakout zone is now forming near the USD 0.92 level, above which the price may perhaps move higher towards the USD 1.00 level.

BNB is stable above the USD 388 support level. On the upside, the USD 400 level is a major barrier. A close above the USD 400 level could start a steady increase towards USD 412 or USD 420.

Solana (SOL) is struggling to gain pace above the USD 92 resistance zone. If there is a bearish reaction, the price might find support near the USD 85 level. Conversely, the bulls might attempt an upside break above the USD 100 level.

DOGE is back above the USD 0.120 resistance. An immediate resistance is near the USD 0.122 level. If the bulls remain in action, the price could rise towards the USD 0.125 level.

XRP price is consolidating above the USD 0.80 support zone. If there is a close above the USD 0.82 resistance, the price might rise towards USD 0.85. The next key resistance is USD 0.88.

Other altcoins market today

Many altcoins are up over 4%, including AVAX, BCH, LEO, ETC, BSV, DASH, CVX, DCR, and BTG. Out of these, AVAX, the 10th largest cryptoasset by market capitalization, is up 5% in a day and 34% in a week. 

To sum up, bitcoin price is trading in a positive zone above USD 40,500. If BTC climbs above USD 42,000 and USD 42,250, it could gain bullish momentum. 

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