- The bitcoin price is testing the $38,000 level.
- Ether rose 8% and surpassed $2,800, while XRP tested $0.62.
- SOL and AVAX were up about 8%.
Bitcoin prices are still well above the $37,000 level. BTC started to rise sharply and cleared the $38,000 resistance level before moving lower again. It is currently (11:54 UTC) up about 3% in one day and trading close to $38,000.
Similarly, most major cryptocurrencies are gaining bullish momentum. ETH is up 8%, apparently breaking above $2,800. XRP is trying to break above $0.632 on the upside. ADA could rise to $1.10.
Learn more: Bitcoin and ethereum could bottom out (soon), analysts say
Total Market Capitalization
Source: tradingview.com bitcoin price
After closing above $37,000, the bitcoin price was able to continue its rally. BTC broke above the $37,800 resistance level and even broke above $38,000. The next major resistance level is around $38,500, and above that level, the price could move back to the $39,200 resistance level. Any more gains could take it to $40,000.
On the downside, immediate support is around $37,200. The next major support level is around $37,000, below which the price could fall to $36,000.
Ether prices began a strong spike to over $2,700. ETH outperformed BTC, rising 8%. There is a clear move above the $2,800 resistance level. The next key resistance level is around $2,880, above which the price could rise to $3,000.
Initial support is around $2,780. The next major support level is around $2,750 and the price could test $2,700.
ADA, BNB, SOL, DOGE and XRP prices
Caldano (ADA) is forming a base above the $1.05 level. The first key resistance is around $1.08, but the key resistance is still around $1.10. A close above $1.10 could trigger a stronger move higher.
BNB is moving higher towards the $380 resistance level. The next key resistance level is around $388. A clear break of $388 is necessary to test the $400 barrier. Instead, it could revert back to the $355 support level.
Solana (SOL) started rising again above the $100 resistance level. It is up more than 8% and trading above $105. The next major resistance level is around $112, where the shorts may take hold.
DOGE is moving higher towards the $0.145 resistance level. The main resistance is around $0.150, above which the price could spike to the $0.168 level. On the downside, $0.135 is the main support.
XRP price is moving higher towards the resistance level of $0.632. If the bulls continue to move, the price could rise to $0.65. Conversely, it could revert to the $0.60 support area in the near term.
Other cottage coin markets today
Many cryptocurrencies rose more than 5%, including LUNA, DOT, MATIC, CRO, ATOM, AVAX, LTC, LINK, NEAR, TRX, FTT, FTM, HBAR and ETC. Among them, HBAR rose 12% and above the $0.24 level, raising its weekly gain to nearly 17%. AVAX rose nearly 8% to more than $71. It is also up 10% for the week.
All in all, the bitcoin price has shown resilience above $37,000. If BTC closes above $38,000, it could move up to resistance at $40,000 in the near term.
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