Bitcoin and Ethereum cancel losses, altcoins rise
- The price of Bitcoin recovered above the USD 43,500 resistance.
- Ethereum is back above USD 3,000, XRP is back above USD 0.80.
- SOL and AVAX gained around 9%.
Bitcoin price found strong buying interest above the USD 41,500 level. Consequently, BTC it started a steady upward movement above the USD 42,500 resistance zone and is currently (04:13 UTC) trading above USD 43,600. It rose nearly 4% in one day and wiped out nearly all of its weekly losses.
Likewise, most of the main ones altcoin it is constantly increasing. ETH it was able to recover above the USD 3,000 resistance zone and is now up nearly 6% in one day, reducing its weekly losses to less than 4%. XRP is trading above the USD 0.820 pivot level. ADA is up nearly 5% and is testing the USD 1.08 resistance.
Total market capitalization
The price of Bitcoin
After a sharp decline, Bitcoin’s price formed a base near the USD 41,500 level and started a new rise above the USD 42,500 resistance. It even broke above the USD 43,500 level to move into a positive zone. On the upside, a first resistance is found near USD 43,800. The next resistance is near the USD 44,000 level, above which the price could gain bullish momentum.
On the downside, immediate support is near the USD 43,200 level. The next key support is near the USD 42,500 level, below which the price may struggle in the near term.
The price of Ethereum
Ethereum price also followed bitcoin and recovered above the USD 2,950 resistance. ETH even jumped above USD 3,000 to enter a positive zone. It is now facing resistance near the USD 3,050 level. The next key resistance could be near the USD 3,120 zone.
If there is another bearish wave, the price could find support near USD 2,950. The next major support is near USD 2,850, below which the price could drop to USD 2,750.
The price of ADA, BNB, SOL, DOGE and XRP
Cardano (ADA) held steady above the USD 1.00 support and rallied above USD 1.05. The bulls pushed the price towards USD 1.08, reducing the weekly losses to 10%.
Binance coin (BNB) rose above the USD 400 and USD 405 resistance levels and also recovered above USD 412. Further gains may require a move above the USD 420 level.
Solana (SOL) gained nearly 9% and there was a clear move above the USD 100 level. Immediate resistance is near the USD 105 level. The main hurdle is still close to USD 112, above which the bulls could gain strength.
Dogecoin (DOGE) is still struggling below the USD 0.155 resistance. If there is a clear break to the upside, the price could rise towards the USD 0.165 level. On the downside, the USD 0.142 level is a key support.
The price of XRP is consolidating above the USD 0.820 support level. On the upside, the USD 0.85 level is an important resistance. A break to the upside above USD 0.85 may perhaps open the door for a move towards USD 0.92 or even USD 1.00.
More altcoin markets today
Many altcoins are up by more than 5%, including LUNA, AVAX, DOT, SHIB, MATIC, ATOM, LINK, UNI, NEAR, FTT, ALGO and MANA. Of these, AVAX is up more than 9% and is trading above USD 84 after writing off all of its weekly losses.
Overall, the bitcoin price is recovering above USD 43,500. If BTC breaks out of USD 44,000, it could rise towards the USD 45,500 resistance zone in the short term.
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