Bitcoin and Ethereum Recovery Reaches Key Juncture, Altcoins Rally
Bitcoin price formed a base and started a decent increase above USD 35,000. BTC was able to clear the USD 36,000 resistance. It is currently (11:55 UTC) up 8% but there is a major hurdle waiting near USD 37,000.
Similarly, most major altcoins are approaching key barriers. ETH must clear USD 2,500 for a stronger recovery. XRP could gain pace for a move above USD 0.62. ADA might struggle to clear USD 1.08.
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After forming a base, bitcoin price was able to climb above the USD 35,000 level. BTC even cleared the USD 36,000 resistance zone and is now rising towards a major resistance near USD 37,000. The next major resistance is near USD 37,500, above which the price might start a stronger recovery wave.
If not, there is a risk of a fresh decline below the USD 35,800 level. The next major support is near USD 35,000, below which the price could accelerate lower.
Ethereum price is trying to gain pace above the USD 2,400 pivot level as it’s up more than 7% in a day. The main hurdle is still near USD 2,500. The next one is near USD 2,5650, above which the price might start a steady upward move.
On the downside, an initial support is near the USD 2,350 level. The next major support is near USD 2,320, below which the price might decline to USD 2,200.
Cardano (ADA) is up 4% and trading above the USD 1.02 level. An immediate resistance is near the USD 1.05 level. The next major resistance is near USD 1.08, above which the price may perhaps rise above USD 1.10.
Binance coin (BNB) is moving higher above USD 365. It is consolidating near USD 370, and the bulls seem to be preparing for a move towards the USD 385 level. The next major barrier could be perhaps USD 400.
Solana (SOL) is up 9% and there was a clear move above
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