Bitcoin and Ethereum Extend Gains, ADA and SOL Outperform

 

  • Bitcoin price broke the USD 31,200 resistance zone.
  • Ethereum could climb towards USD 2,000, XRP is still near USD 0.40.
  • SOL and ADA are up over 11%.

Bitcoin price started a decent increase above the USD 30,500 resistance, cleared the USD 31,200 resistance zone, and even tested the USD 31,500 level. BTC is currently (11:58 UTC) trading near USD 31,400 and is up almost 6% in a day and over 6% in a week. 

Similarly, most major altcoins are showing positive signs. ETH surpassed USD 1,900 and might aim for more gains above USD 1,920. XRP is preparing for the next move and consolidating above USD 0.40. ADA is up 12% and trading above USD 0.630.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a close above the USD 30,500 level, bitcoin price extended its gains. BTC was able to clear the USD 31,200 resistance level and test USD 31,500 before correcting lower. The next key resistance is near USD 32,200. A close above the USD 32,000 level might set the pace for a larger increase. In this case, it could rise towards the USD 33,500 level.

On the downside, an initial support is near the USD 30,800 level. The next major support is now forming near the USD 30,500 zone, below which the price could decline below USD 30,000.


Ethereum price

Ethereum price is also rising steadily above the USD 1,850 resistance. ETH broke the USD 1,900 resistance and might rise further above USD 1,920. ETH is up almost 7% in a day and 5% in a week. The next major resistance is near USD 2,000, above which the price could accelerate.

On the downside, an initial support is near the USD 1,850 level. The next major support is now near the USD 1,770 zone. 

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) extended its rally above the USD 0.60 level. The price is up 12% and there was a clear move above the USD 0.63 level. The next major resistance is near the USD 0.65 level. ADA is also up 31% in a week.

BNB is rising towards the USD 312 resistance level. The next major resistance is near USD 320. A clear move above the USD 320 level may perhaps send the price towards the USD 335 resistance zone.

Solana (SOL) gained over 11% and broke the USD 43.50 level. It is now attempting a close above the USD 45 level. If the bulls succeed, the price could rise towards the USD 50 level in the near term. SOL is still down more than 2% in a week.

DOGE is facing resistance near the USD 0.085 zone. The next resistance is at USD 0.088, above which the bulls could even aim for a move above the USD 0.0900 level.

XRP price is showing positive signs above the USD 0.40 resistance zone. An immediate resistance is near the USD 0.425 level. If there is a bearish reaction, the price could dive below USD 0.40.

Other altcoins market today

Many altcoins are gaining bullish momentum, including DOT, TRX, AVAX, SHIB, MATIC, CRO, LTC, UNI, LINK, FTT, and XTZ. Out of these, XTZ is up 10% and is eyeing a move above USD 2.15.

To sum up, bitcoin price is rising and might soon test the USD 32,200 resistance zone. If the bulls fail to remain in action, there could be a drop below USD 30,000.

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