Bitcoin and Ethereum Inch Higher, ZEC, SNX, and THETA Accelerate

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  • Bitcoin price is testing USD 39,000.
  • Ethereum could surpass USD 2,600, XRP is consolidating above USD 0.70.
  • THETA, SNX, and ZEC are up over 9%.

After bitcoin price traded to a new weekly low near USD 37,200, it started a decent recovery wave and is currently (11:57 AM UTC) testing the USD 39,000 level. BTC faces major hurdles near USD 39,250 and USD 40,000.

Similarly, most major altcoins are facing important hurdles. ETH could struggle to gain pace above USD 2,620 and USD 2,650. XRP must clear USD 0.75 for a stronger upward move. ADA is struggling to stay above the USD 0.80 support.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a fresh decline, bitcoin price found support near USD 37,200. BTC started a recovery wave and cleared the USD 38,500 resistance. On the upside, the price could face resistance near the USD 39,250 level. The main resistance is still near USD 40,000, above which the bulls might aim for a larger increase.

If there is no upside break, the price might decline below the USD 38,000 support. The next key support is near the USD 37,200 level, below which the price could restart the downtrend.

Ethereum price

Ethereum price found support near the USD 2,440 zone. ETH started a steady recovery and climbed above USD 2,550. It might soon attempt a move above USD 2,620. The next major resistance is near the USD 2,650 level, above which the price could rise to USD 2,720.

If the price fails to gain pace, it could revisit the USD 2,500 zone. The next key support is near the USD 2,440 level, below which the price could accelerate lower.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) is struggling to stay above the USD 0.80 support zone. If there is a downside break and a close below USD 0.80, the price could decline 5%. The next major support might be USD 0.75.

BNB is facing a major hurdle near the USD 388 level. A clear move above USD 388 may perhaps call for a move towards the USD 400 resistance. On the downside, the USD 365 level is a strong support.

Solana (SOL) is showing positive signs above the USD 80 support. On the upside, it is facing resistance near the USD 85 level. A clear move above USD 85 might send the price towards the USD 92 level.

DOGE is still showing bearish signs below USD 0.120. If the bulls continue to struggle, the price could extend losses to USD 0.110. Conversely, the price might rise to test USD 0.125.

XRP price is trading below the USD 0.75 resistance zone. If there is a successful upside break, the price might rise to USD 0.80. If not, there is a risk of a downside break below the USD 0.70 support.

Other altcoins market today

A few altcoins are up over 5%, including LEO, XMR, THETA, HNT, WAVES, GRT, ZEC, AAVE, GALA, CELO, and AR. Out of these, THETA is eyeing an upside break above USD 3.00. It’s up almost 10% in a day, trimming its weekly losses to 12%. Meanwhile, SNX and ZEX jumped 10% and 13%, respectively. SNX is still down almost 6% in a week, while ZEC erased all its weekly losses and is now up more than 1% in the past 7 seven days. In either case, all these cryptoassets are outperformed by WAVES.

To sum up, bitcoin price is recovering above the USD 38,500 level. If BTC clears USD 39,250 and USD 40,000, it could gain bullish momentum.

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