Bitcoin and Ethereum Inch Higher, ATOM Jumps

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  • Bitcoin price started an upside correction above USD 36,000.
  • Ethereum is consolidating near USD 2,400, XRP is stuck near USD 0.60.
  • ATOM jumped 9%, FTM, OSMO, and MKR are up around 6%.

Bitcoin price found support near USD 33,000 and started an upside correction. It is currently (04:15 UTC) up 3%, is trading near USD 36,500 and facing resistance near USD 37,000.

Similarly, most major altcoins are attempting an upside correction. ETH spiked towards USD 3,150 before recovering higher. XRP is consolidating near the USD 0.600 zone. ADA is still facing strong resistance near USD 1.10.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a short-term recovery, bitcoin price extended decline below the USD 34,000 zone. However, dips were contained below USD 33,000. It started a fresh upside correction and even climbed above USD 37,400, but the bears won again, pushing the price below USD 37,000. The next major resistance is near USD 37,500, above which the price might rise towards the USD 40,000 barrier.

On the downside, an initial support is near the USD 35,000 level. The next major support is near USD 34,200, below which the price could resume its downtrend.

Ethereum price

Ethereum price also extended decline below USD 2,220 and USD 2,200. ETH found support near USD 2,150 and started an upside correction. There was a move above the USD 2,400 level, but the price is facing resistance near USD 2,500 and is still down 2% in a day. The next key resistance is near USD 2,550, above which the price might start a steady correction wave.

An initial support is near the USD 2,320 level. The next major support is near USD 2,200, below which the price might accelerate lower.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) dived below the USD 1.0 support level. However, the bulls defended the USD 0.95 support. It is back above USD 1.00, but the bulls are facing a lot of hurdles near USD 1.08 and USD 1.10.

Binance coin (BNB) dived below the USD 350 level, but there was no test of USD 320. The price recovered above USD 360. It is now facing resistance near USD 375, above which the price could rise towards USD 400.

Solana (SOL) spiked towards the USD 80 support level, where the bulls emerged. It is now back near USD 90. On the upside, an immediate resistance is near USD 95. However, the main hurdle now is at USD 100.

DOGE extended decline towards the USD 0.120 support zone. It is now recovering and trading above USD 0.135. If there are additional gains, the price might rise above the USD 0.140 level in the near term.

XRP price tested the USD 0.550 level before there was an upside correction. An immediate resistance is near the USD 0.620 level. The next key resistance is near USD 0.650, below which the price could rise towards USD 0.75.

Other altcoins market today

A few altcoins are up over 5%, including ATOM, FTM, MKR, LRC, BORA, and HOT. Out of these, ATOM jumped 9%, surpassed USD 36, and trimmed its weekly losses to 6%.

Overall, bitcoin price is trying to recover above the USD 36,000 zone. However, BTC must clear USD 37,200 and USD 37,500 to move into a short-term positive zone.

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