Bitcoin and Ethereum Try to Recover Losses, BNB Rallies

Bitcoin and Ethereum Try to Recover Losses, BNB Rallies

  • Bitcoin price started an upside correction above USD 42,000.
  • Ethereum is facing resistance near USD 3,000, XRP is still below USD 1.
  • BNB rallied nearly 9% and surpassed the USD 365 level.

Bitcoin price remained well bid above the USD 40,800 support. As a result, BTC started a fresh upward move above USD 42,000. It is currently (11:53 UTC) showing a few positive signs, but a close above USD 42,500 and USD 43,000 might be difficult in the short term.

Similarly, most major altcoins are attempting a fresh recovery wave. ETH is back above USD 2,900, but it could face hurdles near USD 3,000. XRP is still consolidating above the USD 0.900 pivot level. ADA is rising, but the bears might take a stand near USD 2.20.

Total market capitalization

Source: https://www.tradingview.com

Bitcoin price

After a fresh test of USD 40,800, bitcoin price started a fresh recovery wave. BTC climbed above USD 41,200 and USD 41,500. The price even climbed above USD 42,000 and it is now struggling to settle above USD 42,500. The next key resistance is near the USD 43,000 level, above which the price might accelerate in the near term.

On the downside, an immediate support is near USD 42,000. The next key support is near USD 41,200, below which the price could revisit the key USD 40,800 support.

Ethereum price

Ethereum price remained stable near USD 2,800 and climbed above USD 100. ETH is back above USD 2,900 and it is facing resistance near USD 2,950. The main breakout zone is now forming near the USD 3,000 level, above which the price might gain bullish momentum.

If there is a fresh downward move, the price might find bids near USD 2,850. The next major support is now forming near the USD 2,750 and USD 2,780 levels.

ADA, LTC, DOGE, and XRP price

Cardano (ADA) recovered above the USD 2.10 and USD 2.12 levels. An immediate hurdle is near USD 2.15. However, the main breakout zone is near USD 2.20. A close above USD 2.20 could set the pace for a larger increase in the coming sessions.

Litecoin (LTC) is rising towards the USD 150 level. The next barrier for the bulls might be USD 155. If they push the price above USD 155, there are chances of a decent increase. If not, the price might slide towards the USD 140 level.

Dogecoin (DOGE) managed to remain above USD 0.195 and it is now back above USD 0.200. The first major resistance is near USD 0.205, above which the bulls could push the price towards the USD 0.212 level.

XRP price is consolidating above USD 0.90 and seems to be preparing for the next above. The first major resistance is USD 0.950, above which the price might test the main USD 1.00 resistance. Any more gains could set the pace for a move towards the USD 1.08 level.

Other altcoins market today

A few altcoins are up over 5%, including DYDX, OKB, BNB, PERP, AR, CAKE, NEAR, and AXS. Out of these, DYDX surged by 25% and broke the USD 25 level, before correcting lower again. Meanwhile, BNB jumped by 9%, almost reaching USD 370 and increasing its weekly gains to almost 8%.

To sum up, bitcoin price is showing a few recovery signs above USD 42,000. However, BTC must settle above USD 43,000 to attempt a steady recovery in the coming sessions.

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Originally Posted on: https://cryptonews.com/news/bitcoin-and-ethereum-try-to-recover-losses-bnb-rallies.htm
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