The price of Bitcoin started a strong rally and broke through the resistance of USD 40,000. BTC even broke above the resistance of USD 42,000. It is currently showing positive signs and is trading above USD 42,700 after rising 3% in one day and 13% in one week.
Likewise, most major altcoins are up. ETH was able to settle above the $3,000 resistance level. XRP broke above the resistance level of $0.70. ADA is trading above the pivot level of $0.150.
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bitcoin price
After forming a base, Bitcoin price was able to climb above the $40,000 resistance. The bulls took control and pushed the price above $41,500. The next major resistance lies near the $43,000 level, above which the price may accelerate towards the $44,500 level.
On the downside, immediate support can be found near the $42,000 level. The main weekly support is now forming near the $40,000 level, below which the price may resume a downtrend.
Ethereum price
ETH followed a bullish path above the resistance level of $2,880. It broke through the $3,000 barrier and accelerated its rise, rising 2% in one day and almost 18% in one week. It is now facing resistance near the $3,080 level. The next key resistance lies near the $3,120 level, above which the bulls could head towards the $3,350 level.
An initial support can be found near the USD 3,000 level. The next major support is near $2,880, below which the price could possibly drop to $2,600.
Prices of ADA, BNB, SOL, DOGE, and XRP
Cardano (ADA) managed to break above the key resistance zone of $1,150. It looks like the price might even reach $1.188. Any further rise could send the price towards the $1.20 resistance zone.
Binance Coin (BNB) broke above the main resistance level of $400. It is now consolidating above the USD 420 level. If the bulls stay in action, the price could rise towards the resistance levels of $445 and $450.
Solana (SOL) broke above the $112 resistance level and is approaching the $120 level. If there is an upside break above $120, the price could rise towards the $125 and $132 levels.
DOGE is gaining ground above the $0.155 resistance level, gaining 7% in one day and 13% in one week. The next key resistance is seen near the $0.162 level. In case of a downward correction, the price might find support near the $0.150 level.
XRP price is up 8% in one day, with a clear move above the $0.70 level. The next major resistance lies near $0.750, above which the price could possibly accelerate towards $0.80.
The market for other altcoins today
Many altcoins are up more than 5%, including SHIB, MANA, LEO, AXS, THETA, ONE, FLOW, GRT, KSM, LRC, CHZ, and TFUEL. Among these, SHIB advanced by 25% and broke above the USD 0.000028 level, rising almost 34% in one week.
Overall, Bitcoin price seems to be gaining bullish momentum above the USD 42,500 level. If the bulls stay in action, BTC could hit the $45,000 level.
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