Bitcoin price formed a bottom and started a decent increase above $35,000. BTC broke the $36,000 resistance. It is currently up 8% (14:55) but there is a major hurdle pending around $37,000.
Similarly, most of the major altcoins are approaching key hurdles. ETH needs to surpass $2,500 for a strong recovery. XRP could gain momentum for a move above $0.62. ADA may struggle to surpass $1.08.
Bitcoin price climbed above the $35,000 level after forming a bottom. BTC also surpassed the $36,000 resistance area and it is currently climbing towards the $37,000 resistance. The next major resistance is near $37,500, above which the price could start a strong recovery. Otherwise, there are chances of a fresh decline below the $35,800 level. The next major support is near $35,000, below which the price could decline further.
Ethereum price is up more than 7% in one day and it is struggling to gain momentum above the $2,400 pivot level. The main hurdle is still around $2,500. The next one is around $2,650, above which the price could start a steady rise. On the downside, an initial support is near the $2,350 level. The next major support is near $2,320, below which the price could decline to $2,200.
ADA, BNB, SOL, DOGE and XRP Price
Cardano (ADA) is up 4% and it is trading above the $1.02 level. The closest resistance is near the $1.05 level. The next major resistance is near $1.08, above which the price could rise above $1.10.
Binance coin (BNB) is rising above $365. The price is consolidating near $370 and it looks like the bulls are preparing for a move towards the $385 level. The next big hurdle could be $400.
Solana (SOL) is up 9% and it made a clear move above the $90 level. On the upside, the closest resistance is around $95, above which the price could rally towards the $100 level.
Dogecoin (DOGE) gains momentum above $0.132. It also surpassed $0.135 and it could rise towards $0.145. The main breakout zone is near $0.150, above which the bulls might gain strength.
XRP price is consolidating above the $0.60 level. The closest resistance is near the $0.620 level. The next key resistance is around $0.650. If there is no upside break, the price could revisit $0.55.
Latest Situation in Other Altcoins
Many altcoins were up more than 6%, including LUNA, DOT, AVAX, SHIB, MATIC, ATOM, WBTC, CRO, LTC, LINK, UNI and FTM. Apart from these, FTM is up 20% and made a move above $2.35. Meanwhile, LTC is up 29% to surpass $0.95, cutting weekly losses to 22%.
To sum up, Bitcoin price is showing positive signs above $36,000. However, BTC must surpass $37,000 and $37,500 for the upside to continue in the short term.