Bitcoin price settled above the $38,000 level and continued its rise. BTC rallied above the $38,800 level, but its rally was capped above $39,000. Similarly, most of the major altcoins are trading in the positive territory. ETH rallied above $2,750, but bears appeared around $2,800. XRP is struggling to gain momentum above $0.625. ADA is rising towards the $1.08 resistance.
After a steady rise, bitcoin price surpassed the $38,500 resistance zone. BTC also rallied above $39,000 before dipping below $38,500, but the bulls retained $38,000. The next major support is near $37,500, below which the price could decline to $36,000. On the upside, the price must settle above $38,500 and $38,800 for an increase. The next key resistance could be $40,000.
Ethereum price followed a similar path and climbed above the $2,750 level. ETH traded close to $2,800 before correcting lower. The price is still above $2,700, but more losses could push the price towards $2,650. If there is another increase, the price could face resistance near $2,800. The next key resistance is near the $2,880 level, above which the price could rise towards the $3,000 level.
ADA, BNB, SOL, DOGE and XRP Price
Cardano (ADA) is rising and trading around $1.05. The first key resistance is near the $1.08 level. A clear move above $1.08 could push the price towards $1.12.
Binance coin (BNB) is consolidating near the $380 level. The closest resistance is near the $388 level. A full close above the $388 level could lead to a move towards the $400 resistance.
Solana (SOL) gained momentum for a move above the $100 level. The price is up 16% and settled above $105. The next resistance is near $112, above which the price could test $120.
DOGE is currently facing sellers near the $0.145 resistance. The next key resistance is near the $0.150 level, above which the bulls might gain strength. Otherwise, there could be a correction towards $0.135.
XRP price rallied above the $0.620 level, but it is struggling near $0.630. If there is an increase above $0.630, the price could rally towards the $0.65 level. Otherwise, the price could drop to $0.580,
Latest situation in other altcoins
Many altcoins were up more than 5%, including LUNA, DOT, AVAX, MATIC, ATOM, UNI, NEAR, FTT, FTM, MANA, HBAR, LEO, and FIL. Apart from these, ATOM is testing the $30 level with an increase of 11%.
To summarize, Bitcoin price continued to rise above $38,500. If BTC maintains this level, a steady increase towards $40,000 could be seen in the coming sessions.