Bitcoin and Ethereum Still Rangebound, ATOM and QNT Rally

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  • Bitcoin price is recovering above USD 37,000.
  • Ethereum is still below USD 2,700, XRP remained above USD 0.60.
  • ATOM and QNT are up over 12%.

Bitcoin price started a downside correction below the USD 38,000 level. BTC even traded below USD 36,500, but there was no test of USD 36,000. It is currently (04:11 UTC) recovering and trading above USD 37,300.

Similarly, most major altcoins are also moving higher. ETH spiked below USD 2,600 before correcting above USD 2,650 again. XRP managed to stay above the USD 0.60 support zone. ADA recovered above the USD 1.05 resistance zone.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a downside correction, bitcoin price found support near USD 36,250. BTC started a decent increase and was able to clear the USD 36,800 resistance. It even surpassed USD 37,000 while the next major resistance is near the USD 38,000 level, above which the price could gain momentum.

On the downside, an immediate support is near the USD 37,000 level. The next major support is near USD 36,250, under which the price could even decline below USD 36,000.

Ethereum price

Ethereum price spiked below USD 2,600, but the bulls were able to protect USD 2,550. ETH is now rising and trading above USD 2,650. An initial hurdle is near the USD 2,720 level. The next key resistance is near the USD 2,800 level, above which the price could continue higher.

An initial support is near the USD 2,640 level. The next major support is near USD 2,600, under which the price may perhaps dive below USD 2,550.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) was stable above the USD 1.00 zone. It is moving higher, clearing the USD 1.05 resistance. The first key resistance is near USD 1.08. The main breakout resistance is still near USD 1.10.

Binance coin (BNB) spiked below the USD 365 support level. It is now recovering and trading above USD 370. To continue higher, the price must clear the USD 380 resistance zone.

Solana (SOL) declined sharply and tested the USD 95 support level. The price found support and recovered above USD 100. However, the bears might remain active near USD 110 and USD 112.

DOGE is still struggling below the USD 0.145 resistance level. If the bulls fail to gain strength, it could dive to the USD 0.122 support level.

XRP price is holding the USD 0.600 support level. An immediate resistance is near the USD 0.632 level. The next major resistance is near USD 0.650, above which the price may perhaps accelerate higher.

Other altcoins market today

A few altcoins are up over 5%, including LUNA, ATOM, NEAR, MANA, HBAR, ETC, MIOTA, MKR, QNT, ROSE, and NEXO. Out of these, ATOM rallied 12%, surpassing USD 29 and trimming its weekly losses to less than 3%. Meanwhile, QNT increased its weekly gains to more than 46% as it jumped by another 16% in a day, nearing USD 135. 

Overall, bitcoin price is moving higher towards the USD 38,000 resistance. If there is no upside break, BTC might start a fresh decline to USD 36,000 in the short term. Conversely, the bulls could test the key USD 40,000 resistance zone.

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