Bitcoin and Ethereum Try to Recover, ATOM Moves Higher


 

  • Bitcoin price is moving towards USD 42,000 again.
  • Ethereum returned above USD 2,700, XRP is inching higher above the USD 0.70 support.
  • ATOM is attempting a fresh increase towards USD 34.

Bitcoin price extended decline below the USD 42,000 support zone. BTC even spiked below the USD 41,000 level before recovering. It is currently (11:56 UTC) trading above USD 41,800.

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Similarly, most major altcoins are trying to recover. ETH spiked below USD 2,700 before returning above USD 2,750. XRP is nearing USD 0.75 again while ADA must move back above USD 0.90 to gain strength.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a downside break, bitcoin price extended its decline below the USD 42,000 level. BTC even traded below the USD 41,000 level, but downsides were limited and BTC jumped above the USD 41,800 level again. On the upside, the price is facing resistance near the USD 42,000 level. The next key resistance is near the USD 42,550 level, above which the price might start a decent recovery wave.

If not, there could be more losses below the USD 41,000 support. The next key support is near the USD 40,500 level, below which the price may perhaps test USD 40,000.

Ethereum price

Ethereum price settled below the USD 2,800 level. ETH even declined below the USD 2,700 level, but managed to return above USD 2,750. It is now facing resistance near the USD 2,780 zone. The next major resistance could be near the USD 2,850 level, where the bears might emerge.

On the downside, the USD 2,700 level is a short-term support. The next key support is near the USD 2,650 level, below which the price might test USD 2,550. 

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ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) extended decline below the USD 0.88 support. It even tested USD 0.865 zone. The price is now attempting a recovery wave, but a close above USD 0.90 is a must for a stronger increase.

BNB is recovering and testing the USD 400 pivot level. If the bulls push the price above USD 400 and USD 402, the price might start a steady increase. The next key resistance is near USD 420.

Solana (SOL) spiked towards the USD 90 level. It is now struggling to recover and there is a risk of a move below USD 90. The next major support is near USD 85, below which the price could drop to USD 80.

DOGE tested the USD 0.125 support and is now nearing USD 1.300 again. If there are more downsides, the bears might test the USD 0.120 support.

XRP price traded below the USD 0.75 support level and tested the USD 0.72 support. It is now recovering, but a close above USD 0.765 is a must for a move towards USD 0.80.

Other altcoins market today

A few altcoins are up over 3%, including CELO, AR, CHZ, JUNO, WAVES, and ATOM. Out of these, ATOM jumped more than 4% and neared USD 34, increasing its weekly gains to 37%. 

To sum up, bitcoin price is trying to recover towards USD 42,000. If BTC fails to stay above the USD 41,000 level, it could revisit USD 40,000. Conversely, a steady move above USD 42,500 might start a stronger increase.

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