22 Mar 2022 · 2 min read

Bitcoin Tests USD 42K, Ethereum Reaches USD 3K, ALGO and ETC Accelerate

 

  • Bitcoin price jumped above USD 42,000.
  • Ethereum could gain pace above USD 3,000, XRP rallied almost 7% and tested USD 0.85.
  • ALGO and ETC are up 10% and 14%, respectively.

After bitcoin started a downside correction below the USD 41,550 support, BTC remained stable above the USD 40,550 level. It is currently (04:06 UTC) rising above USD 42,200 and might attempt a fresh increase above the USD 42,500 resistance zone.

Similarly, most major altcoins are showing positive signs. ETH is trading above USD 3,000, while XRP gained almost 7% and ADA is rising towards USD 0.95.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a minor downside correction, bitcoin price found support near the USD 40,550 zone. BTC formed a base and broke the USD 42,000 resistance. The next major resistance is near the USD 42,500 level, above which the price could start another steady increase.

If there is a fresh downside correction, the price might revisit the USD 40,550 support zone. The next major support is near USD 40,000, where the bulls could emerge.

Ethereum price

Ethereum price is showing positive signs above the USD 2,900 level and is testing USD 3,000. The next key resistance might be near the USD 3,050 level, above which the price may perhaps gain bullish momentum.

If there is a fresh decline, the price might find support near USD 2,880. The next major support is near the USD 2,820 level, below which ETH might test the USD 2,750 support zone.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) settled above the USD 0.90 resistance zone and climbed above the USD 0.92 level. If the bulls remain in action, the price could rise towards the USD 0.95 level.

BNB is trading above the USD 400 pivot zone. An immediate resistance could be near the USD 412 level. The next key resistance is near USD 420, above which the price may perhaps rise towards the USD 432 level.

Solana (SOL) could gain bullish momentum if there is a close above the USD 90 level. The next major resistance is near the USD 95 level, above which it could rise towards the USD 100 level.

DOGE is showing positive signs above the USD 0.120 resistance. The next barrier for the bulls might be USD 0.122. A close above USD 0.122 could open the doors for a steady increase.

XRP price gained pace above the USD 0.82 resistance. It even traded above the USD 0.85 level. The next stop for the bulls might be USD 0.88, but the main hurdle is USD 0.90. On the downside, the bulls might remain active near USD 0.80.

Other altcoins market today

Many altcoins are up over 4%, including AVAX, NEAR, LINK, BCH, ALGO, ETC, EGLD, ICP, WAVES, FTM, APE, RUNE, and HNT. Out of these, ALGO gained over 10% and tested the USD 0.82 level. Meanwhile, ETC accelerated above USD 42 and is now the best performer among the top 100 cryptoassets in a day (+14%) and in a week (+64%). (Learn more: Ethereum Classic Jumps 54% In a Week, But History Shows That the Rally May Not Last) 

Overall, bitcoin price is showing positive signs above the USD 41,500 level. If BTC clears USD 42,500, it could accelerate higher towards USD 43,500 or even USD 44,200 in the near term.

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