Bitcoin and Ethereum Inch Higher, NEAR Rallies
Yesterday, bitcoin price extended decline below the USD 40,500 level. BTC even traded below the USD 40,000 level, but the bulls were active. The price started a sharp recovery and is currently (04:34 UTC) trading near USD 42,300.
Similarly, most major altcoins are showing a few positive signs. ETH spiked below USD 3,000 before there was a sharp upward move. XRP is still struggling to settle above the key USD 0.750 pivot level. ADA spiked below USD 1.10 before a recovery wave.
Total market capitalization
After a downside break below USD 40,000, bitcoin price started a sharp recovery. BTC climbed above the USD 41,200 and USD 41,500 resistance levels. The price even surged above the USD 42,000 level. If the bulls remain in action, they might attempt a move above the USD 42,500 level. The next major resistance is near USD 43,200, above which the price might start a move towards the USD 45,000 level.
On the downside, an initial support is near the USD 41,500 level. The next key support is near USD 40,800, below which the price might revisit USD 40,000.
Ethereum price also extended decline and traded below the USD 3,050 support. ETH spiked below USD 3,000, but the bulls appeared near USD 2,920. It is now rising and trading above USD 3,100. An immediate resistance is near the USD 3,150 level. The next key hurdle is near USD 3,200, above which the price might gain strength.
An initial support is near the USD 3,020 level. The next major support is near USD 3,000, below which the bears could push the price to USD 2,880.
Cardano (ADA) gained bearish momentum below USD 1.12 and USD 1.10. It tested USD 1.08 and there was a steady recovery. It is now rising and broke the USD 1.15 resistance. The next major resistance is near USD 1.18.
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