19 May 2022 · 2 min read

Bitcoin Tests USD 30K, Ethereum at USD 2K, Altcoins Move Higher

 

  • Bitcoin (BTC) has held support above USD 29,000 and is testing USD 30,000.
  • Ethereum (ETH) bounced from USD 1,900.
  • Multiple altcoins turned green.

Bitcoin has held the key support level at USD 29,000 throughout the day, with more gains now likely as the coin tests resistance at the USD 30,000 level. As of 15:44 UTC, the number one cryptocurrency traded at USD 30,330, up almost 5% for the past 24 hours and 5% for the past 7 days.

At the same time, most altcoins are also inching higher. 

Total market capitalization

Source: tradingview.com/
 

Bitcoin price

BTC has remained in a range between USD 28,800 and USD 29,800 on Wednesday, and is currently moving higher above the key USD 30,000 level. A clear break above that level would mean the next resistance to the upside is around USD 31,300, which represented the market top on May 15 and 16.

On the downside, BTC has support around today’s lows at USD 28,700, while further support exists around the lows from May 12 at USD 27,000.

Ethereum price

ETH has found support just north of the USD 1,900 level, but like BTC it still has a way to go before reaching the highs from earlier in the week. ETH moved to USD 2,020 and is up 3% in a day and down 3% in a week. To the upside, ETH faces resistance around Sunday’s market peak at USD 2,150, while downside support can be found at around USD 1,900.

If ETH falls below USD 1,900, the next logical support area would be the low from May 12 around USD 1,800, about 9% below the current price.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) rose from the USD 0.5 daily candle close on the chart yesterday, to USD 0.54 at the time of writing. The token has support at the daily low around USD 0.49, and upside resistance at USD 0.57 and USD 0.60.

BNB was among the day’s winners, rising 5% over the past 24 hours. From a current price of USD 307, the token has support at USD 287, but may face resistance around the highs from Monday at USD 312.

Solana (SOL) is trading above the key USD 50 mark, having recovered from a dip to USD 48.20 earlier in the day. SOL has support at the daily low and upside resistance just below USD 60.

Dogecoin (DOGE) bounced slightly higher from the USD 0.083 level today, trading as high as USD 0.087. The meme coin has support at the daily low, and further support at lows from May 12 of USD 0.0689. To the upside, resistance exists around USD 0.093.

XRP traded higher over the course of the day on Thursday, after first dipping below yesterday’s closing price of USD 0.405. XRP increased 3%, reaching USD 0.42. The token has support at the daily low of USD 0.39, and resistance around USD 0.45.

Other altcoin markets today

Among the best performers today are HBAR, MANA, ICP, AAVE, SAND, AR, FLOW, KSM, and GALA, that jumped 7%-10% in a day. 

Meanwhile, on of the best performers in the past week, XCN, dropped 14%, reaching USD 0.92 and trimming its weekly gains to less than 26%.
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