20 Apr 2022 · 2 min read

Bitcoin and Ethereum Keep Inching Higher, SOL and LUNA Accelerate

 

  • Bitcoin price climbed above the USD 41,500 resistance.
  • Ethereum moved above the USD 3,120 resistance, XRP could revisit USD 0.80.
  • LUNA and SOL are up over 7%.

Bitcoin price gained pace for a move above USD 41,500 and is currently (11:47 UTC) testing the USD 42,000 level. BTC is up over 3% in a day and 4% in a week.

Similarly, most major altcoins are also moving higher. ETH surpassed the USD 3,120 resistance zone and is now up almost 3% in a day and a week. XRP still hovering below USD 0.80. ADA was able to clear the USD 0.95 resistance zone.

Total market capitalization

Source: tradingview.com

Bitcoin price

In the past two sessions, bitcoin price saw an increase in buying interest above USD 40,000 and was able to clear the USD 41,500 resistance level. If the bulls remain in action, it may perhaps rise above USD 42,000. The next key resistance could be USD 42,500, above which the price could gain bullish momentum.

On the downside, an initial support is near the USD 41,200 level. The next key support is near USD 40,500, below which the price might dive to USD 40,000.

Ethereum price

Ethereum price also gained pace above the USD 3,080 level. ETH extended gains and cleared the USD 3,120 resistance zone. The next key resistance might be near the USD 3,200 level, above which the price could rise towards the USD 3,270 level.

If there is a bearish reaction, the price might find support near USD 3,080. The next major support is near the USD 3,050 level, below which the price could retest the USD 3,000 support zone.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) is moving higher above the USD 0.95 level. It seems like the bulls might soon push the price towards the USD 0.98 level. The main resistance is still near the USD 1.0 level, where the bulls might struggle.

BNB gained bullish momentum for a move above the USD 425 level. It is now approaching the USD 432 level. If there are more upsides, the bulls may possibly test the USD 450 level.

Solana (SOL) gained over 7% and there was a move above USD 108 resistance. The price is now attempting a move above the USD 110 level. If the bulls succeed, the price could rally to USD 118. Similarly, terra (LUNA) jumped 7% and surpassed USD 96, increasing its weekly gains to 14%.

DOGE is up over 4% and there was a move above the USD 0.145 resistance. The next major resistance is near the USD 0.150 level, above which the price might accelerate higher.

XRP price is still consolidating near the USD 0.765 level. An immediate resistance is near the USD 0.780 level, above which the bulls could attempt a breakout above USD 0.80. On the downside, the USD 0.75 level is a decent support.

Other altcoins market today

Many altcoins are up over 5%, including LUNA, DOT, ATOM, APE, SAND, FTM, RUNE, EOS, AAVE, CAKE, and GMT. Out of these, APE rallied almost 34% and tested the USD 17 level before correcting slightly lower. 

To sum up, bitcoin price is testing the USD 42,000 level and if BTC bulls remain in action, they could push the price towards USD 42,500 or even USD 43,000.

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