Bitcoin and Ethereum Rally, SOL and LUNA Accelerate
After testing the USD 34,500 yesterday, bitcoin price jumped 12% and is now (04:18 UTC) trading above USD 38,900.
Similarly, most major altcoins trimmed losses. ETH surged 11% and broke the USD 2,600 resistance. XRP is now attempting a close above USD 0.70. ADA tested USD 0.75 and moved above USD 0.85.
Total market capitalization
After a strong decline, bitcoin price found support near the USD 34,500 zone. BTC formed a base above USD 35,000 and started a major recovery wave above the USD 38,000 resistance level. On the upside, the price is facing resistance near the USD 39,500 level. The next key resistance is near the USD 40,000 level, above which the price might gain bullish momentum.
If there is a downside correction, the price might test the USD 38,500 support. The next key support is near the USD 37,500 level, below which BTC may perhaps decline to USD 36,200.Learn more: Bitcoin Shows Surprising Resilience Amid Russia Aggression-Provoked Selloff
Ethereum price also followed a similar path and started a fresh increase from the USD 2,300 zone. ETH climbed above USD 2,600 and now faces resistance near USD 2,650. The next key resistance is near the USD 2,750 zone, above which the price may perhaps test USD 2,880.
If not, it could correct lower towards the USD 2,550 support. The next key support is near the USD 2,500 zone, below which the price might test USD 2,420.
Cardano (ADA) declined sharply and tested the USD 0.75 support. It is now correcting losses and trading above USD 0.80. There was a move above the USD 0.85 level, but the bears might remain active near USD 0.90.
BNB recovered above the USD 350 level. It is now attempting an upside break above the USD 365 resistance level. If there is a clear move, the price might
Read more on cryptonews.com
