Bitcoin and Ethereum Attempt Recovery, Hurdles Nearby

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  • Bitcoin price is facing resistance near USD 42,500.
  • Ethereum is still well below USD 3,200, XRP is eyeing an upside break above USD 0.75.
  • ATOM, FTT, and HBAR are up over 5%.

Bitcoin price is attempting a recovery wave above the USD 42,000 level. BTC is currently (04:00 UTC) facing resistance near USD 42,500. A clear break above USD 42,500 might start a steady increase in the near term.

Similarly, most major altcoins are slowly rising. ETH is facing a major hurdle near USD 3,200. XRP might start a steady increase if it settles above USD 0.75. ADA is consolidating near the USD 1.35 level.

Total market capitalization

Source: Tradingvew.com

Bitcoin price

After testing the USD 41,500 zone, the bitcoin price started a minor upside correction. BTC climbed above the USD 42,000 pivot level. An immediate resistance is near the USD 42,200 level. The next major resistance is near USD 42,500, above which the price could gain bullish momentum. 

On the downside, initial support is near the USD 41,500 level. The next key support is near USD 41,200, below which the bears might aim a test of USD 40,500.

Ethereum price

Ethereum price is attempting a recovery wave above the USD 3,100 zone. ETH is now facing resistance near USD 3,150. The main resistance is near USD 3,200, above which the price might start a decent increase. In the stated case, it could rise towards USD 3,350.

An initial support is near the USD 3,100 level. The key support is near USD 3,050, below which the price may perhaps break the USD 3,000 support.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) declined sharply below the USD 1.42 and USD 1.40 levels. It is now consolidating near the USD 1.35 level. If there is a fresh increase, the bears might remain active near USD 1.40.

Binance Coin (BNB) is consolidating near the USD 460 level. On the upside, the price might face hurdles near the USD 472 and USD 475 resistance levels. If there is another decline, the bulls might appear near USD 450.

Solana (SOL) is facing a major resistance near the USD 140 level. A clear move above the USD 140 level could push the price towards the USD 145 level. If not, the price may possibly decline towards the USD 130 level.

DOGE is trading well above the USD 0.160 level. The next major support is near the USD 0.150 level. If the price starts a recovery wave, it could face resistance near the USD 0.175 level.

XRP price is slowly rising and approaching the key USD 0.75 resistance level. If the bulls succeed in clearing USD 0.75, the price might accelerate higher. The next major stop for the bulls may perhaps be near the USD 0.80 level.

Other altcoins market today

A few altcoins are up over 4%, including LUNA, ATOM, FTT, HBAR, KLAY, LEO, MIOTA, and BTT. Conversely, Out of these, ATOM gained pace for a move above the 39.20 level.

To sum up, the bitcoin price is slowly rising towards the USD 42,500 resistance. If BTC clears USD 42,500, it could rise steadily. If not, it could slide towards USD 40,500.

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