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Bitcoin and Ethereum rise, DOGE corrects profits

Bitcoin and Ethereum rise, DOGE corrects profits

  • bitcoin sped up and cleared $40,000.
  • Ethereum tests $3,000, XRP approaches $0.70.
  • DOGE somewhat reduced his achievements, but still remains the best player in the top 100 clubs.

Bitcoin price sparked strong buying interest after Tesla chief Elon Musk agreed to buy social media giant Twitter for $44 billion. This deal is still subject to a shareholder vote, though some expect Musk to take over the company in the coming days. Either way, BTC gained momentum and was able to break through the $40,000 resistance. It is currently (04:54 UTC) slightly above $40,500 and up 3% on the day and down less than 1% on the week.

Likewise, most of the major altcoins have risen. ETH was able to overcome $2,950 and is testing the $3,000 resistance level. XRP could gain momentum if it settles above $0.70. ADA is trying to recover above the $0.90 resistance zone.

Total market capitalization

Source: tradingview.com

bitcoin price

After dropping below $38,500, the price of Bitcoin found support. BTC has started a steady rise above the $39,200 resistance. He was able to overcome the $40,000 resistance zone. The bulls are now facing hurdles around $40,650 and $40,700. The next major upside resistance could be the $41,200 level, above which the price could potentially rise to $42,000.

If a downward correction occurs, the price could test the $40,000 level. The next major support is around $39,500, below which the price could begin another decline.

Ethereum price

The price of Ethereum also followed Bitcoin and broke the resistance at $2,920. ETH even rose briefly above the $3,000 pivot level. It could then face resistance around $3020 and $3030. The next major resistance is near the $3,080 level. ETH is up 4% on the day and down 2% on the week.

On the other hand, initial support is near the $2,975 level. The next major support lies near the $2950 level, below which there is a risk of a sharper decline.

Price of ADA, BNB, SOL, DOGE and XRP

Cardano (ADA) extended its decline below $0.85 and is trading close to the $0.82 support. It is currently recovering above $0.85, but there are many hurdles in the path of growth around $0.90.

BNB found strong support near the $382 level. The price gained momentum and rose above the $400 level. If the bulls continue to act, they could push the price towards the $412 level.

Solana (SOL) is back above the $100 level. On a close above $100, the price can rise steadily. The first key resistance is $105, above which the price could test $110.

DOGE confidently moved above the resistance of 0.150 USD. It has gained over 19% on the day and is now trading around $0.154, correcting from $0.168 hit on Monday. If the downward correction continues, bulls could emerge around $0.142.

Price XRP moving up and could test the $0.70 resistance. A close above $0.70 is a must to start a sustained move towards $0.75 or $0.78.

Other altcoins today

Many altcoins are up over 4% including LUNA, SHIB, NEAR, FTT, APE, XMR, EGLD, THETA, RUNE, FTM, AAVE and FLOW. Of these, the APE gained 10% and rose above $18.60.

Overall, the Bitcoin price is showing positive signs above the $40,000 level. If BTC stays above $40,000, it could continue to rise to $41,200.

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