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Bitcoin and Ethereum up an inch, MATIC extends its rally, BNB accelerates

Bitcoin and Ethereum up an inch, MATIC extends its rally, BNB accelerates

  • Bitcoin price is approaching $21,000 again.
  • Ethereum is back above $1100, XRP is still holding around $0.32.
  • MATIC continued its rally with BNB up 4%.

Bitcoin price holds a key support zone at $20,000 and moves towards $21,000 again. BTC is currently (11:43 UTC) trading around $20,700 and has not changed during the day and is down 8% on the week. A clear move above $21,000 and $21,200 could set the tone for stronger gains.

Likewise, most of the major altcoins are also expecting a breakout to the upside. ETH should clear $1,120 and $1,150 for a new increase. XRP is still consolidating around $0.320. ADA may try to make a fresh move towards $0.50.

Total market capitalization

Source: tradingview.com

bitcoin price

The price of Bitcoin appears to be forming a base around the $20,250 level. On the other hand, immediate resistance lies near the $21,000 level. The first major resistance is now around $21,200. A clear move above the $21,200 level could start a new uptrend.

Otherwise, the price may trade below the $20,000 support level. The next major support is near the $19,500 zone, below which the price could begin a stronger decline.

Ethereum price

The price of Ethereum also rises above the $1,100 level. On the other hand, the price is facing resistance near the $1,120 level. The main breakout zone is around $1,150, above which the price could begin a steady rise. The next major resistance could be around $1250. ETH was almost unchanged on the day and dropped 10% on the week.

On the other hand, initial support is at $1,065. The next major support is around $1,050, below which the price could return to the $1,000 zone.

Price of ADA, BNB, SOL, DOGE and XRP

Cardano (ADA) is consolidating above the $0.465 support. The first major resistance is near the $0.48 level, above which the price could rise to the main $0.50 resistance.

BNB up more than 4% and trading above the $225 level. The main resistance is near the $230 level. A close above the $230 resistance level could open the doors to a move towards the $250 level.

Solana (SOL) is also rising and trading well above the $35 resistance. It is approaching the $38 resistance zone, above which the price could test the key $40 zone.

DOGE is trading above the pivot zone of $0.0620. Initial resistance is around $0.065. A close above $0.065 could open the doors to a move towards $0.070.

Price XRP is trading in a tiny range around the $0.32 zone. The next move could be significant and price could move stronger in both directions.

Other altcoins today

Many altcoins are up over 5% including AVAX, UNI, MATIC, LTC, XLM, ATOM, MANA, SAND, AAVE, MIOTA and GRT. Of these, MATIC rose 23% to break the $0.50 level, extending its weekly gain to 16%.

To summarize, the price of Bitcoin is showing positive signs above the $20,500 level. However, BTC needs to clear $21,000 and $21,200 to start a sustained uptrend.

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