Bitcoin Nears USD 21K, Ethereum Outperforms BTC, SNX Skyrockets
- Bitcoin price recovered above the USD 20,000 resistance.
- Ethereum climbed 10%, XRP could revisit USD 0.35.
- SNX is the best performer today.
Bitcoin price formed a base above the USD 18,000 level and started a recovery wave above the USD 20,000 resistance level. It is currently (11:55 UTC) showing positive signs near USD 20,800, and is facing a major hurdle at USD 21,200. BTC is up 6% in a day and down 22% in a week.
Similarly, most major altcoins are also showing positive signs. ETH gained pace and was able to clear the 1,100 level. XRP is eyeing a move towards USD 0.35. ADA could accelerate if it clears USD 0.50.
Total market capitalization
After a sharp correction, bitcoin price started a recovery wave from the USD 18,000 zone and is now testing the USD 20,800 resistance. The next major resistance is near the USD 21,200 level, above which the price might gain bullish momentum.
On the downside, an initial support is near the USD 20,000 level. The next major support is near the USD 19,500 zone, below which the price might start a fresh decline.
Ethereum price was able to gain pace for a move above the USD 1,050 resistance. ETH even cleared the USD 1,150 level. The next major resistance is near USD 1,220, above which the price could start a steady increase. ETH is up 10% in a day and down 21% in a week.
On the downside, an immediate support is at USD 1,080. The next major support is near USD 1,050, below which the price could revisit USD 1,000.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) is rising and trading above the USD 0.48 level. The bulls are now attempting an upside break above the USD 0.50 resistance. If they succeed, the price could rise towards the USD 0.52 level.
BNB is gaining pace and approaching the key resistance at USD 220. If there is a clear move above the USD 220 level, the price could rise towards the USD 235 resistance in the near term.
Solana (SOL) started a strong move above USD 32. The price gained 12% and there was a move above the USD 35 resistance. If the bulls remain in action, the price could even test USD 38.
DOGE jumped above the USD 0.0580 level. The price is up almost 6% and trading above USD 0.0600. The next key resistance is near USD 0.0620, above which the price might rise to USD 0.0650. (Learn more: Another Elon Musk-fueled DOGE Rally Ends With a Dump)
XRP price is showing positive signs above the USD 0.312 resistance. The price is facing resistance near the USD 0.335 zone, above which it could rise towards the USD 0.35 resistance.
Other altcoins market today
Many altcoins are up over 5%, including DOT, LEO, AVAX, LTC, FTT, LINK, MATIC, UNI, CRO, ALGO, ETC, ATOM, and FLOW. Meanwhile, SNX, ranked 72nd by market capitalization on Coingecko, jumped 74% in a day and briefly surpassed the USD 3 level, before moving to USD 2.90 again. It’s also up 32% in a week and 14% in a month.
To sum up, bitcoin price is gaining pace above the USD 20,500 level. To continue higher, BTC must clear the USD 21,200 resistance zone in the near term.