2022-01-12 12:35:00

Bitcoin and Ethereum Target Additional Gains, Altcoins Accelerate

 

  • Bitcoin price is showing positive signs above USD 42,500.
  • Ethereum broke the USD 3,250 resistance, XRP tested USD 0.780.
  • AVAX and NEAR are up over 10%.

Bitcoin price remained in a positive zone above the USD 42,000 level. BTC is currently (12:27 PM UTC) showing positive signs and it even spiked above USD 43,000. A daily close above USD 43,000 might push the price towards the USD 45,000 level.

Similarly, most major altcoins are recovering and gaining pace. ETH surged above the USD 3,250 resistance zone. XRP is up almost 5% and tested the USD 0.780 level. ADA jumped almost 9% and cleared the USD 1.22 level.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a steady recovery wave above USD 41,500, bitcoin price was able to continue higher. BTC climbed above the USD 42,500 resistance. It even broke USD 43,000 and seems like there are chances of more upsides. An immediate resistance is near the USD 43,200 level. The next major resistance is near USD 43,500, above which the price might test USD 45,000.

On the downside, an initial support is near the USD 42,500 level. The next key support is near USD 42,000, below which the bulls might struggle to protect losses.

Ethereum price

Ethereum price formed a base above the USD 3,200 for more gains. ETH climbed above the USD 3,250 resistance levels. If the bulls remain in action, it could surpass USD 3,300. The next key hurdle is near USD 3,350, above which the price might rise to USD 3,500.

An initial support is near the USD 3,220 level. The next major support is near USD 3,200, below which the price might start a fresh decline.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) gained bullish momentum above the USD 1.20 and USD 1.22 resistance levels. It is up 9% and is testing the USD 1.25 resistance. The next major resistance is near USD 1.265, above which the price may perhaps test the USD 1.30 resistance.

Binance coin (BNB) jumped 4% and traded above the USD 465 resistance. It is now facing resistance near the USD 472 level. The next key resistance is near USD 485, above which the bulls might aim for USD 500.

Solana (SOL) is rising and trading above the USD 140 level. The next major resistance is near the USD 150 level. If the bulls remain in action, the price could test USD 165. If not, it might correct lower to USD 132.

DOGE is consolidating above the USD 0.150 level. The next major resistance is near the USD 0.165 level. A clear move above the USD 0.165 level could start a stronger increase in the near term.

XRP price climbed 5% and there was a move above the USD 0.765 level. It tested USD 0.780 and the bulls could test USD 0.80. If there is a downside correction, they might protect USD 0.750.

Other altcoins market today

Many altcoins are up over 5%, including LUNA, DOT, AVAX, MATIC, SHIB, NEAR, ALGO, FTM, FTT, MANA, and SAND. Out of these, FTM rallied 20% and there was a break above the USD 2.80 level, making the coin the best performing cryptoasset among the top 100 coins by market capitalization today.

To sum up, bitcoin price is attempting an upside break above USD 43,000. If BTC settles above this level, it could start a steady increase in the near term.

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