16 Mar 2022 · 2 min read

Bitcoin Tests USD 40K Again, Ethereum Accelerates, Altcoins Turn Attractive

 

  • Bitcoin price is back above the USD 40,000 pivot level.
  • Ethereum eyes USD 2,720, XRP must clear USD 0.80 for a fresh increase.
  • FTM and WAVES are up over 14%.

Bitcoin price declined sharply after a rally to USD 41,500, nearing USD 39,000, but it’s now (11:54 UTC) trading above USD 40,500 once again, having increased 5% in a day. 

Similarly, major altcoins could accelerate too. ETH broke the USD 2,650 resistance and is now facing hurdles near USD 2,720. XRP is still trading below the USD 0.80 resistance. ADA might gain pace if it clears the USD 0.82 resistance.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a sharp reversal from USD 41,500, bitcoin price found support. BTC remained stable near USD 39,000 and recently started another increase. It surpassed the USD 40,000 resistance level and surged above USD 41,500. The next major resistance is near the USD 41,000 level, above which the price might test USD 41,750.

If not, it could decline towards the USD 40,000 level. The next key support is near the USD 39,200 level, below which there is a risk of a stronger decline in the near term.

Ethereum price

Ethereum price found support near the USD 2,600 zone and is now up 6% in a day. It is moving higher and surpassed the USD 2,650 level. The next resistance is near the USD 2,720 level, above which there are chances of a stronger increase in the coming sessions.

If not, the price might retreat lower below USD 2,650. The next key support is near the USD 2,600 level, below which the price might revisit USD 2,550. (Learn more: Ethereum Moves Higher Against Bitcoin on a Wave of Positive News

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) is consolidating above the USD 0.80 level. An immediate resistance is near the USD 0.820 and USD 0.825 levels. The main hurdle is still near USD 0.85, above which the price might rise steadily.

BNB is again moving higher towards the USD 385 level. The main breakout zone is USD 388. A successful close above the USD 388 level may perhaps send the price towards the USD 400 level.

Solana (SOL) is up over 5% and trading near the USD 84 level. An immediate resistance is USD 86. An upside break and continuation might call for a test of USD 95. The next key resistance is USD 100.

DOGE is again attempting an increase above the USD 0.115 resistance. If the bulls succeed, the price might rise to USD 0.120. Conversely, it could trim gains and revisit the USD 0.110 support zone.

XRP price is consolidating near the USD 0.78 resistance. The main barrier is still near the USD 0.80 level. A successful close above the USD 0.80 level could start a stronger increase towards USD 0.85 or even USD 0.885.

Other altcoins market today

A few altcoins are up over 5%, including AVAX, DOT, MATIC, CRO, LINK, UNI, MANA, EGLD, XMR, FMT, WAVES, and HNT. Out of these, FTM and WAVES rallied more than 14% and broke the USD 1.20 and USD 29 levels, respectively.

To sum up, bitcoin price is showing positive signs above USD 40,000. If BTC climbs above the USD 41,000 resistance, it could rise further and clear the USD 41,750 level.

_____ 

Find the best price to buy/sell cryptocurrency: