A quick 3min read about today's crypto news!
Bitcoin price remained well supported above the USD 62,000 level. BTC broke many hurdles near USD 63,500 and USD 64,000. It is currently (04:25 UTC) rising and it could test the USD 65,000 resistance zone in the near term.
Most major altcoins are struggling to follow bitcoin. ETH is still well below the USD 3,950 and USD 4,000 resistance levels, while XRP is still around USD 1.10. ADA is trading below the USD 2.18 and USD 2.20 resistance levels.
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After a close above USD 62,000, bitcoin price was able to extend gains. The price was able to clear the USD 63,500 and USD 63,800 resistance levels. It is now facing resistance near the USD 64,000 level. The next major resistance is near USD 64,200, above which the price could rise towards the USD 65,000 level.
On the downside, an initial support is near USD 63,500. The first major support is near USD 63,200, below which the price might test the USD 62,000 support.
Ethereum price seems to be consolidating above the USD 3,750 support zone. The price is now trading above USD 3,800 and it could rise towards the USD 3,880 level. A clear break above USD 3,880 could set the pace for a larger increase towards USD 4,000 in the near term.
If there is no upside break above USD 3,880, the price might correct lower. The first key support is now forming near the USD 3,780 level.
Cardano (ADA) is consolidating above the USD 2.05 and USD 2.08 support levels. The main resistance is still near the USD 2.18 and USD 2.20 levels. A clear break above USD 2.20 may perhaps rise towards the USD 2.40 level. An intermediate resistance is near USD 2.32.
Litecoin (LTC) is trading above the USD 180 support level. An immediate hurdle is near USD 188, followed by USD 192. A clear break above USD 200 could open the doors for a move towards the USD 220 and USD 225 levels in the coming sessions.
Dogecoin (DOGE) is down almost 4% and is consolidating below the USD 0.250 resistance. A fresh increase above USD 0.250 could lift the price towards USD 0.265. The next major resistance is near USD 0.280. On the downside, the USD 0.232 is a major support. The next key support is near the USD 0.220 level.
XRP price is stuck below the USD 1.12 and USD 1.15 resistance levels. The main resistance is near USD 1.20. A close above USD 1.20 could clear the path for a larger increase. If not, the price might decline towards the USD 1.05 support zone. The main support is at USD 1.00.
Many altcoins are up over 5%, including OKB, KCS, XDC, NEAR, AR, HT, HBAR, ATOM, FTM, ONE, LUNA, and MANA. Out of these, OKB gained 26% and surpassed the USD 20 level, increasing its weekly gains to almost 29%.
Overall, bitcoin price is rising and trading above USD 63,500. If BTC clears USD 64,200, there could be a move towards USD 65,000 or even USD 65,500 in the near term.