Analytics

Bitcoin and Ethereum Break Resistance, LINK and UNI Rally

  • Bitcoin price started a steady recovery and surpassed USD 47,000.
  • Ethereum broke the USD 3,400 resistance, XRP is still below USD 1.12.
  • LINK and UNI gained over 10%.

Bitcoin price formed a base above the USD 45,000 level and started a fresh increase. BTC broke the USD 46,000 and USD 46,500 resistance levels. It is currently (04:28 UTC) trading above USD 47,000 and it might correct lower in the short-term.

Similarly, most major altcoins are showing signs of a fresh increase. ETH was able to climb above the USD 3,380 and USD 3,400 resistance levels. XRP is still struggling to gain momentum above USD 1.10. ADA is consolidating near the USD 2.40 level.

Total market capitalization
 

Source: https://www.tradingview.com/

Bitcoin price

After forming a base near USD 45,000, bitcoin price started a steady increase. BTC broke the USD 46,000 resistance and moved into a positive zone. It even climbed above the USD 47,000 and USD 47,200 resistance levels. On the upside, an immediate resistance is near USD 47,500. The next major resistance is near the USD 48,000 level, above which the price could gain bullish momentum.

On the downside, an initial support is near the USD 46,800 level. The first major support could be USD 46,500, below which the price could revisit USD 46,000.

Ethereum price

Ethereum price also started a steady upward move above the USD 3,350 level. ETH broke the USD 3,380 and USD 3,400 resistance levels. It spiked towards USD 3,450, where it faced sellers. If there is a clear break above the USD 3,450 level, the price could rise further towards the USD 3,500 hurdle.

If there is a downside correction, the price might find bids near the USD 3,365 level. The next key support seems to be forming near the USD 3,320 level.

ADA, LTC, DOGE, and XRP price

Cardano (ADA) is struggling to start a fresh increase above the USD 2.45 level. The first major resistance is near the USD 2.50 level. The next key pivot level is at USD 2.55, above which the price might rise towards the USD 2.65 level in the near term. If not, it could revisit USD 2.25.

Litecoin (LTC) was able to settle above the USD 180 level. An immediate resistance is near the USD 185 level. The main resistance is near USD 188, above which the price could revisit USD 200. On the downside, the bulls might remain active near the USD 172 level.

Dogecoin (DOGE) is trying to recover above the USD 0.240 level. The first key barrier is USD 0.250. A close above the USD 0.250 level could start an increase towards the USD 0.265 level. The next major resistance is near USD 0.280.

XRP price is consolidating above the USD 1.05 support level. It seems like the price is preparing for a break above the USD 1.10 level. If the price clears the USD 1.12 resistance, there could be a steady move towards USD 1.20.

Other altcoins market today

Many altcoins gained over 10%, including HBAR, CRV, XEC, AAVE, SUSHI, IOST, PERP, COMP, SNX, UNI, THETA, LINK, ICX, and RUNE. Out of these, HBAR rallied over 26% and it broke the USD 0.5 level. Meanwhile, LINK hit USD 30, while UNI surpassed USD 25.

Overall, bitcoin price is trading in a positive zone above USD 47,000. If BTC remains stable above USD 46,000, it could rise further towards USD 48,000 or even USD 48,500.

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