Bitcoin Gains Bullish Momentum While Ethereum Consolidates, ADA Rallies

• Bitcoin gained pace after it cleared the USD 22,500 resistance.
• Ethereum is consolidating above USD 1,500, XRP is rising towards the USD 0.388 level.
• ADA gained over 10% and broke the USD 0.52 resistance.

Bitcoin price remained well bid above the USD 22,000 zone and was able to spike above the USD 23,000 resistance. It is currently (04:04 UTC) trading near USD 23,400 and is up 7% in a day and 21% in a week.

Similarly, most major altcoins are trading in a positive zone. ETH is now consolidating gains above the USD 1,500 level. XRP seems to be aiming for a move towards the USD 0.40 resistance. ADA is gaining pace above the USD 0.52 resistance zone.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a downside correction, bitcoin price started a fresh increase above the USD 22,500 resistance. BTC even spiked above USD 23,600 before there was a minor decline. On the downside, an initial support is near the USD 23,000 level. The next major support is near the USD 22,650 zone, below which the price could correct further lower.

An immediate resistance is near the USD 23,500 level. The next major resistance could be USD 24,000, above which the price could rise towards the USD 25,000 level.

Ethereum price

Ethereum price remained strong above the USD 1,500 resistance. ETH is now consolidating near the USD 1,560 level and is up 4% in a day and 50% in a week. On the downside, an initial support is near USD 1,500. The next major support is near USD 1,450, below which the price could start a substantial downside correction.

On the upside, the price could face sellers near USD 1,600. The next major resistance is at USD 1,640, above which the price could start a stronger increase.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) is gaining pace above the USD 0.512 resistance. It is up over 10% and trading above USD 0.52. If the bulls remain in action, the price could rise towards the USD 0.55 resistance. ADA is also up 25% in a week.

BNB is rising towards the USD 272 resistance. The next major hurdle is near the USD 275 level, above which the price could rise towards the USD 288 resistance.

Solana (SOL) is consolidating near the USD 45 zone. The next key resistance is near the USD 48 level, above which the price might climb higher towards USD 50.

DOGE cleared the USD 0.068 resistance zone. It is now attempting a move above the USD 0.0700 barrier. If the bulls succeed, the price could rise towards the USD 0.0750 level.

XRP price is moving higher towards the USD 0.388 resistance. The next barrier is USD 0.40, above which the bulls might aim for a move towards the USD 0.50 level in the near term.

Other altcoins market today

Many altcoins are showing positive signs, including DOT, MATIC, AVAX, SHIB, TRX, LTC, LINK, NEAR, XLM, ATOM, XMR, and FLOW. Out of these, FLOW gained 23% and broke the USD 2 resistance zone, increasing its weekly gains to 44%.

Overall, bitcoin price is showing positive signs above the USD 23,000 level. If BTC clears the USD 23,500 resistance, it could even surpass the USD 24,000 zone in the coming sessions.

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