Bitcoin Ethereum Keep Moving Up, Could the Bullish Momentum Continue?
After dipping below $23,000, Bitcoin has managed to stay above the $22,500 support level before moving up to $22,950. The cryptocurrency is up almost 1% in a day and 12% over the past week.
The current market trend seems to be one where most major altcoins are seeing their value increase. For example, Ethereum (ETH) climbed 5% and almost retested the $1,600 resistance zone before fading away again over time.
XRP is currently trading above the key $0.35 support level, with ADA testing an upside break above the $0.50 zone.
Bitcoin price
Bitcoin price found support after a downward move below $23,000. BTC stayed above the key zone of $22,500. The price is currently moving higher toward $ 23,000. An immediate resistance on the upside will be near this level at around $23,500; there could also be potential resistance at $24,000 which would indicate a major bull run.
On the other end, the closest bear resistance is around $22,800, followed by the $22,500 zone. If the price falls below this it will indicate a strong bear run.
Ethereum price
The Ethereum price maintained its strong performance, climbing above the $1,450 resistance zone to reclaim losses and climb even higher. The Ethereum is up 5% in a day and 31% this week. The price is likely to face more sellers near $1,600. However, the next major resistance sits at an even higher level – $1,625, above which it's possible for this cryptocurrency's value could start another increase.
If ETH prices fall, it could revisit the $1,550 zone, followed by the $1,500 zone. The bears will take over the market if the price falls below this critical level.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) is rising as it approaches the $0.50 resistance level. So far, it has managed to stay above the critical $0.465 zone. If it manages to go over $50.50, we could be in for a great bull run.
BNB is on the rise and is currently trading above $262. If it continues its upward movement, the next resistance is near $272, followed by $288.
For a brief period, Solana (SOL) fell below $40 but rose back above $42. The bulls gained the upper hand and pushed the price to $45.
DOGE is also on the rise as the bulls are trying to push it above the 0.0700 barriers. If they succeed, they could push it above $0.072 followed by $0.075.
XRP joined the bullish run as its price moved toward $0.375. If it continues like this, it could test the $0.388 level followed by the $0.40 level.
Other Altcoins Market Today
There is a lot of positive momentum in the cryptocurrency world at present. Many altcoins are showing signs that they may soon recover from their current dips. Some notable examples include MATIC, AVAX, LEO, UNI, ETC, NEAR, ATOM, APE, SAND, and MANA. MATIC jumped 12% in the span of one day, surpassing $0.90 and increasing its weekly gains to 28%. Meanwhile, SNX, APE, and CRV are among the top performers with 17%-24 percent increases throughout today's trading session.
Bitcoin may be ready for another rise. The cryptocurrency is currently attempting a fresh increase above $23,200. If bitcoin surpasses the $23,500 resistance zone, it could gain bullish momentum and lead toward more $25,000 prices soon enough.