Bitcoin and Ethereum Recovery Reaches Key Juncture, Altcoins Rally

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  • Bit­coin price is fac­ing a major hur­dle near USD 37,000.
  • Ethereum is still below USD 2,500, XRP is con­sol­i­dat­ing near USD 0.60.
  • ATOM, FTM, and LRC are up by 15%-29%.

Bit­coin price formed a base and start­ed a decent increase above USD 35,000. BTC was able to clear the USD 36,000 resis­tance. It is cur­rent­ly (11:55 UTC) up 8% but there is a major hur­dle wait­ing near USD 37,000.

Sim­i­lar­ly, most major alt­coins are approach­ing key bar­ri­ers. ETH must clear USD 2,500 for a stronger recov­ery. XRP could gain pace for a move above USD 0.62. ADA might strug­gle to clear USD 1.08.

Total mar­ket capitalization

Source: tradingview.com

 

Bitcoin price

After form­ing a base, bit­coin price was able to climb above the USD 35,000 lev­el. BTC even cleared the USD 36,000 resis­tance zone and is now ris­ing towards a major resis­tance near USD 37,000. The next major resis­tance is near USD 37,500, above which the price might start a stronger recov­ery wave.

If not, there is a risk of a fresh decline below the USD 35,800 lev­el. The next major sup­port is near USD 35,000, below which the price could accel­er­ate lower.

Ethereum price

Ethereum price is try­ing to gain pace above the USD 2,400 piv­ot lev­el as it’s up more than 7% in a day. The main hur­dle is still near USD 2,500. The next one is near USD 2,5650, above which the price might start a steady upward move.

On the down­side, an ini­tial sup­port is near the USD 2,350 lev­el. The next major sup­port is near USD 2,320, below which the price might decline to USD 2,200.

ADA, BNB, SOL, DOGE, and XRP price

Car­dano (ADA) is up 4% and trad­ing above the USD 1.02 lev­el. An imme­di­ate resis­tance is near the USD 1.05 lev­el. The next major resis­tance is near USD 1.08, above which the price may per­haps rise above USD 1.10.

Binance coin (BNB) is mov­ing high­er above USD 365. It is con­sol­i­dat­ing near USD 370, and the bulls seem to be prepar­ing for a move towards the USD 385 lev­el. The next major bar­ri­er could be per­haps USD 400.

Solana (SOL) is up 9% and there was a clear move above the USD 90 lev­el. On the upside, an imme­di­ate resis­tance is near USD 95, above which the price could rise towards the USD 100 level.

DOGE is gain­ing pace above USD 0.132. It also sur­passed USD 0.135, and it could rise towards USD 0.145. The main break­out zone is near USD 0.150, above which the bulls could gain strength.

XRP price is con­sol­i­dat­ing above the USD 0.60 lev­el. An imme­di­ate resis­tance is near the USD 0.620 lev­el. The next key resis­tance is near USD 0.650. If there is no upside break, the price could revis­it USD 0.55, where the bulls might take a stand.

Other altcoins market today

Many alt­coins are up over 6%, includ­ing LUNA, DOT, AVAX, SHIB, MATIC, ATOM, WBTC, CRO, LTC, LINK, UNI, and FTM. Out of these, FTM gained 20% and there was a move above USD 2.35. Mean­while, LRC jumped 29%, sur­pass­ing USD 0.95 and trim­ming its week­ly loss­es to 22%.

To sum up, bit­coin price is show­ing bull­ish signs above USD 36,000. How­ev­er, BTC must clear USD 37,000 and USD 37,500 to con­tin­ue high­er in the near term.

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