Bitcoin and Ethereum Reverse Losses, Altcoins Jump

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  • Bitcoin price recovered above the USD 43,500 resistance.
  • Ethereum is back above USD 3,000, XRP returned above USD 0.80.
  • SOL and AVAX rallied around 9%.

Bitcoin price found a strong buying interest above the USD 41,500 level. As a result, BTC started a steady upward move above the USD 42,500 resistance zone and is currently (04:13 UTC) trading above USD 43,600. It’s up almost 4% in a day and erased almost all its weekly losses.

Similarly, most major altcoins are rising steadily. ETH was able to recover above the USD 3,000 resistance zone and is now up almost 6% in a day, trimming its weekly losses to less than 4%. XRP is trading above the USD 0.820 pivot level. ADA is up almost 5% and is testing the USD 1.08 resistance.

Total market capitalization

Source: www.tradingview.com

Bitcoin price

After a strong decline, bitcoin price BTC formed a base near the USD 41,500 level and started a fresh increase above the USD 42,500 resistance. It even cleared the USD 43,500 level to move into a positive zone. On the upside, an initial resistance is near USD 43,800. The next resistance is near the USD 44,000 level, above which the price might gain bullish momentum.

On the downside, an immediate support is near the USD 43,200 level. The next key support is near the USD 42,500 level, below which the price might struggle in the short term.

Ethereum price

Ethereum price also followed bitcoin and recovered above the USD 2,950 resistance. ETH even climbed 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 might find support near USD 2,950. The next major support is near USD 2,850, below which the price could slide to USD 2,750. 

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) remained stable above the USD 1.00 support and recovered above USD 1.05. The bulls pushed the price towards USD 1.08, trimming its weekly losses to 10%.

Binance coin (BNB) climbed above the USD 400 and USD 405 resistance levels and it also recovered above USD 412. Any more gains might call for a move above the USD 420 level.

Solana (SOL) rallied almost 9% and there was a clear move above the USD 100 level. An immediate resistance is near the USD 105 level. The main hurdle is still near USD 112, above which the bulls could gain strength.

DOGE is still struggling below the USD 0.155 resistance. If there is a clear upside break, the price could rise towards the USD 0.165 level. On the downside, the USD 0.142 level is a key support.

XRP price is consolidating above the USD 0.820 support level. On the upside, the USD 0.85 is a major resistance. An upside break above USD 0.85 may perhaps open the doors for a move to USD 0.92 or even USD 1.00.

Other altcoins market today

Many altcoins are up over 5%, including LUNA, AVAX, DOT, SHIB, MATIC, ATOM, LINK, UNI, NEAR, FTT, ALGO, and MANA. Out of these, AVAX is up over 9% and trading above USD 84 after it erased all its weekly losses.

Overall, bitcoin price is recovering above USD 43,500. If BTC surpasses USD 44,000, it could rise towards the USD 45,500 resistance zone in the near term.

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