Bitcoin and Ethereum Try to Recover, ENJ and SAND Rally
- Bitcoin price is inching higher towards the USD 38,000 resistance.
- Ethereum eyes USD 2,500, XRP is consolidating above USD 0.60.
- ENJ and SAND are up over 13%.
Bitcoin price formed a base and climbed above the USD 36,500 level. It is currently (04:18 UTC) showing positive signs near USD 37,400 and could climb towards the USD 38,000 resistance.
Similarly, most major altcoins are also moving higher. ETH could accelerate if there is a clear move above USD 2,500. XRP is stable above the USD 0.60 pivot level. ADA could face resistance near the USD 1.08 level.
Total market capitalization
After a short-term decline, bitcoin price found support near the USD 35,500 zone. BTC started a fresh increase and was able to clear the USD 37,000 level. On the upside, the price is facing resistance near the USD 37,500 level. The next major resistance is near USD 38,000, above which the price might rise steadily.
If not, there might be a fresh decline below the USD 36,400 support. The next major support is near USD 35,500, below which the price could accelerate lower.
Ethereum price is stable above the USD 2,400 level. ETH is consolidating near the USD 2,450 level. The first key resistance on the upside is near the USD 2,500 level. The next key resistance is near USD 2,550, above which the price might start a decent increase.
On the downside, an initial support is near the USD 2,400 level. The next major support is near USD 2,320, below which the price might extend losses.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) is showing positive signs above the USD 1.02 level. An immediate resistance is near the USD 1.05 level. The first key resistance is near USD 1.08, above which the bulls might gain strength.
Binance coin (BNB) is up almost 8% and there was a clear move above the USD 380 level. It is now trading above USD 385 and seems like the bulls are aiming for a move towards the USD 400 resistance zone.
Solana (SOL) is moving higher and trading above USD 90. An initial hurdle is near the USD 95 level. The main resistance is near the USD 100 level, above which the price might accelerate higher.
DOGE is struggling to move above the USD 0.145 resistance. The next resistance is near the USD 0.150 level. A close above USD 0.150 may perhaps start a stronger increase in the near term.
XRP price is consolidating near the USD 0.600 level. An immediate hurdle is near the USD 0.62 level. The main breakout resistance is now forming near the USD 0.65 level, where the bears might remain active.
Other altcoins market today
Many altcoins are up over 5%, including DOT, MATIC, CRO, LINK, ALGO, FTT, MANA, SAND, EGLD, and GRT. Out of these, SAND gained almost 17% and climbed above the USD 3.50 level, trimming its weekly losses to less than 11%. ENJ jumped 13%, surpassing USD 1.65 and trimming its weekly losses to 21%.
Overall, bitcoin price is moving higher towards the USD 38,000 resistance. To continue higher, BTC must gain strength above the USD 38,000 resistance.