Bitcoin and Ethereum Aim For More Gains, Altcoins Remain Attractive
Bitcoin price corrected lower from the USD 40,000 resistance zone. BTC declined below USD 38,000, but the bulls were active above the USD 36,000 support. The price is currently (12:12 UTC) rising and it could accelerate higher above USD 38,000.
Similarly, most major altcoins are showing signs of a fresh increase. ETH is back above USD 2,200 and it might soon test USD 2,300. XRP is rising towards the USD 0.650 resistance zone.
Total market capitalization
Recently, bitcoin price saw a sharp decline from the USD 40,000 resistance. BTC broke the USD 38,000 and USD 37,000 support levels. However, it remained well bid near USD 36,400. As a result, there was a fresh increase above USD 37,000. An initial resistance on the upside is near the USD 38,000 level. The next key resistance now is near the USD 38,500 level.
On the downside, the price might remain well bid near the USD 37,000 level. The next key support is near USD 36,400.
Ethereum price found a strong support near the USD 2,150 level. ETH is now rising and it is back above the USD 2,200 level. If the bulls remain active, there are chances of a move above the USD 2,280 and USD 2,300 levels.
If there is another decline, the price might find support near USD 2,200. The main support is now forming near the USD 2,150 level.
ADA, LTC, DOGE, and XRP price
Cardano (ADA) remained stable above the USD 1.20 level. ADA recovered losses and it climbed above USD 1.25. An immediate resistance is near USD 1.30, above which the price might accelerate higher towards USD 1.35. On the downside, the USD 1.20 level is a major support.
Litecoin (LTC) is attempting a fresh increase above USD 130. A close above USD 130 might push the price towards the USD 135 level. The key resistance is now near USD 140, where the bulls might face a strong selling interest.
Dogecoin (DOGE) spiked below USD 0.20 before recovering higher. The price is now consolidating above the USD 0.20 level. An initial resistance is near the USD 0.212 level, above which the price might test USD 0.230. The main resistance for a larger increase is near USD 0.250.
XRP price found support near USD 0.612. It is now recovering and trading above USD 0.630. The first key resistance is near USD 0.650. The next key resistance is near USD 0.680, above which the price might test USD 0.700. Conversely, the price might dip and revisit the USD 0.612 support zone.
Other altcoins market today
A few altcoins declined over 8%, including SUSHI, ICP, AMP, AAVE, THETA, TEL, CRV, ETC, and KSM. Out of these, SUSHI is down 10% and it broke the USD 8.50 support. Meanwhile, FLOW, CHSB, OKB, and AXS are up by 6%-24%.
To sum up, bitcoin price is recovering losses and trading above USD 37,000. If BTC settles above USD 38,000, there could be a stronger upward move in the near term.