Bitcoin and Ethereum Remain Supported, SOL Surges

Bitcoin and Ethereum Remain Supported, SOL Surges

  • Bitcoin price is consolidating and trading well above USD 43,000.
  • Ethereum is holding gains above USD 3,000, XRP is back below USD 1.00 again.
  • SOL rallied by 12% and surpassed USD 140.

Bitcoin price started a steady recovery wave above the USD 43,000 level. BTC even broke the USD 44,000 resistance, but there was no convincing close. It is currently (11:55 UTC) consolidating and it might make another attempt to clear USD 44,000.

Similarly, most major altcoins are holding gains. ETH settled well above USD 3,000, but it is facing resistance near USD 3,150. XRP started a downside correction after it failed to clear USD 1.05. ADA corrected lower after it traded close to the USD 2.30 level.

Total market capitalization

Source: https://www.tradingview.com

Bitcoin price

After a close above USD 43,500, bitcoin price extended its recovery wave. BTC even climbed above USD 44,000 and USD 44,200. However, there was no upside continuation above USD 44,400. The price is now consolidating below USD 44,000. An immediate resistance on the upside is near the USD 44,000 level. A close above this level could set the pace for a move towards USD 45,500.

If not, there is a risk of a downside break below the USD 43,200 support. The next key support is now forming near USD 42,500, where the bulls might take a stand.

Ethereum price

Ethereum price gained pace above the USD 3,000 level. ETH even surpassed USD 3,100, but the bears appeared near USD 3,150. The price is now correcting gains below USD 3,100. An immediate support is near the USD 3,025 level. The key support is at USD 3,000, below which the price may possibly decline towards USD 2,880.

On the upside, the price is facing a major hurdle near USD 3,150. The next resistance is near USD 3,200, above which the price could rise towards the USD 3,350 level.

ADA, LTC, DOGE, and XRP price

Cardano (ADA) rallied above the USD 2.20 and USD 2.25 levels. It tested the USD 2.30 region before correcting lower. It is now approaching the USD 2.20 support. If there are more downsides, the price could slide towards the USD 2.12 level.

Litecoin (LTC) failed to clear the USD 162 resistance zone. It is moving lower and trading below USD 160. The first key support is near USD 155, followed by USD 150. On the upside, the price must clear USD 162 and USD 165 for a move towards USD 175 or even USD 188.

Dogecoin (DOGE) tested the USD 0.230 level and corrected lower. It is now consolidating near the USD 0.220 level. If there are additional losses, the price could test the USD 0.212 level. The next major support is near the USD 0.205 level.

XRP price failed to test the USD 1.05 resistance level. It is now trading below USD 1.00 and it might test USD 0.950. The next major support is near the USD 0.880 level. On the upside, the price could start a fresh rally if it clears USD 1.05. 

Other altcoins market today

Many altcoins are up over 10%, including AR, ATOM, LUNA, AVAX, XTZ, EGLD, CELO, TEL, QNT, SOL, HBAR, ALGO, and IOST. Out of these, SOL is seemingly gaining pace and it might test USD 150.

To sum up, bitcoin price settled above the USD 43,000 pivot zone. To continue higher, BTC must settle above the USD 44,000 and USD 44,200 levels in the near term.

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Originally Posted on: https://cryptonews.com/news/bitcoin-and-ethereum-remain-supported-sol-surges.htm
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