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Bitcoin and Ethereum Gain Traction, ADA and SOL Accelerate

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Bitcoin and Ethereum Gain Traction, ADA and SOL Accelerate


 

  • Bitcoin price gained 5% and climbed above USD 31,000.
  • Ethereum jumped towards USD 1,900, XRP is testing USD 0.40.
  • SOL and ADA are up over 9%.

Bitcoin price remained supported near the USD 29,500 level and started a recovery wave above the USD 30,500 resistance. It even broke USD 31,000 and is currently (04:10 UTC) eyeing more gains above the USD 31,200 resistance zone. BTC is up 5% in a day and 6% in a week.

Similarly, most major altcoins are rising steadily. ETH is up 5% and approaching the USD 1,920 resistance. XRP might rise towards the USD 0.425 resistance. ADA is back above the USD 0.60 resistance.

Total market capitalization

Source: tradingview.com

Bitcoin price

After forming a base near the USD 29,500 level, bitcoin price was able to start a recovery wave. BTC even surpassed the USD 31,000 level. However, the bears seem to be protecting more gains above the USD 31,200 level. The next key resistance is near USD 32,000, above which the price could start a stronger increase.

On the downside, an initial support is near the USD 30,500 level. The main weekly support is still near the USD 29,500 zone, below which the price could start a stronger decline.

Ethereum price

Ethereum price managed to recover losses and surpassed the USD 1,850 resistance. It is now approaching the USD 1,900 level and is up 5% in a day and almost 4% in a week. The main resistance is still near USD 1,920, above which the price could start a stronger increase. The next key resistance is at USD 2,000.

On the downside, an initial support is near the USD 1,850 level. The next major support is near USD 1,770, below which the price might decline heavily. 

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) gained pace above the USD 0.58 resistance. It jumped almost 11% and broke the USD 0.60 resistance level. If the bulls remain in action, it could even accelerate above the USD 0.62 resistance zone.

BNB is holding gains above the USD 300 level. An immediate resistance is near the USD 312 level. The next major resistance is USD 320, above which the price may perhaps rise towards the USD 335 resistance zone.

Solana (SOL) is back above the USD 40 level and is up almost 10% in a day. It is facing resistance near the USD 42 level. A close above USD 42 might start a steady increase towards the USD 45 level in the near term.

DOGE is rising and trading above the USD 0.0820 level. On the upside, the price might face resistance near the USD 0.085 zone. The next resistance is at USD 0.088.

XRP price is back above the USD 0.40 resistance zone. An immediate resistance is near the USD 0.42 level, above which the price may perhaps climb towards the USD 0.45 resistance.

Other altcoins market today

Many altcoins are showing positive signs, including DOT, TRX, AVAX, LEO, MATIC, LTC, NEAR, LINK, UNI, ALGO, ATOM, and HBAR. Meanwhile, THETA is up 13% in a day and is the best performer among the top 100 cryptoassets by market capitalization.

Overall, bitcoin price is moving higher and is testing the USD 31,200 resistance. It seems like BTC might rise further and test the USD 32,000 resistance zone in the near term.

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