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Bitcoin and Ethereum Move Higher, BNB Rallies

  • Bitcoin price is rising and targeting USD 58,500.
  • Ethereum broke the USD 4,350 resistance, XRP reached USD 1.05.
  • BNB rallied almost 8% and it broke the USD 630 resistance.

Bitcoin price started a steady recovery wave from the USD 55,500 support level. BTC broke the USD 57,500 and USD 58,000 resistance levels. It is currently (11:54 UTC) rising and there are chances of further gains above USD 58,500.

Besides, most major altcoins are also moving higher. ETH broke the USD 4,320 and USD 4,350 resistance levels. XRP reached USD 1.05, while ADA is still well below the USD 1.80 resistance zone.

Total market capitalization

Source: tradingview.com

Bitcoin price

After forming a support base, bitcoin price moved above the USD 57,500 level. BTC broke the USD 58,000 resistance level and might possibly test the USD 58,500 resistance level. A clear break above USD 58,500 could spark a steady increase. The next major resistance is near USD 60,000, above which the price could test USD 62,000.

On the downside, an initial support is near USD 57,500. The next major support is near USD 57,000, below which the price could revisit the USD 56,000 support.

Ethereum price

Ethereum price is rising and trading well above the USD 4,250 pivot level. ETH broke the USD 4,350 resistance zone to move further into a positive zone. If the bulls remain in action, the price could rise towards the USD 4,450 level.

If there is a downside correction, the price might find support near USD 4,300. The next major support is near USD 4,250, below which the price could extend losses.

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ADA, BNB, SOL, SHIB, and XRP price

Cardano (ADA) is struggling to start a steady recovery wave above the USD 1.70 level. The next key resistance is near USD 1.75, above which the price could rise towards the USD 1.80 resistance zone. If not, it may perhaps test the USD 1.62 support.

Binance coin (BNB) is up almost 8% and broke the USD 625 level. The price even cleared USD 630, and it is rising towards the USD 640 level. The next major stop for the bulls on the upside may possibly be USD 650.

Solana (SOL) is down 4% and it is trading near USD 205. The main support is still USD 200. A downside break and a close below USD 200 could spark a sharper decline. Conversely, it could attempt an upside break above USD 220.

SHIB failed to stay above the USD 0.000040 level. It is now consolidating, with an immediate support near the USD 0.000038 level. Any more losses may perhaps push the price towards the USD 0.000035 level.

XRP price is still consolidating above USD 1.00 support zone. An initial resistance is forming near the USD 1.05 level. A clear move above USD 1.05 might push the price towards the USD 1.12 level. If not, there is a risk of a move towards USD 0.920.

Other altcoins market today

Many altcoins are up over 8%, including GALA, BAT, CRV, MINA, QTUM, IMX, SAND, BCH, ZEC, AVAX, and CHZ. Out of these, GALA gained 76% and surpassed the USD 0.70 level. (Learn more: Gaming Token Gala Jumps Amid Increased Gaming Sector Bullishness)

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To sum up, bitcoin price is rising towards the USD 58,500 resistance. If BTC surpasses USD 58,500, it could accelerate towards the USD 60,000 level.

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