Bitcoin and Ethereum Accelerate, ADA, SOL, and More Altcoins Rally – Cryptonews
Bitcoin price was able to clear the USD 39,200 resistance level and even tested the USD 40,000 resistance. It is currently (04:08 UTC) consolidating gains above USD 39,700 and might test USD 40,000 again. BTC is up over 4% in a day and 1% in a week.
Similarly, most major altcoins are also gaining pace. ETH broke the USD 2,900 and USD 2,920 resistance levels. XRP broke the key USD 0.65 resistance zone while ADA rallied above USD 0.85.
Total market capitalization
After another rejection near USD 37,500, bitcoin price started a recovery wave. BTC was able to clear the USD 38,800 and USD 39,200 resistance levels and test the USD 40,000 resistance. It is now consolidating gains and might attempt more upsides above USD 40,000. The key resistance is still near the USD 40,350 level, above which the price might rise to USD 41,200.
On the downside, an initial support is near USD 39,500. The next major support is near USD 39,200, below which the price might test USD 38,800.
Ethereum price also gained pace above the USD 2,850 resistance level and climbed above the USD 2,920 resistance level. ETH jumped 5% in a day and almost 2% in a week. It is now consolidating near the USD 2,950 level and might attempt a move towards the USD 3,000 resistance.
On the downside, an immediate support is near the USD 2,900 level. The next major support is near the USD 2,850 level, below which the price might resume its decline.
Cardano (ADA) started a strong surge above the USD 0.85 resistance. It gained 13% and even tested the USD 0.90 resistance. A close above USD 0.90 may perhaps open the doors for a steady increase towards the USD 0.95 resistance. ADA is also up 5% in a week.
BNB gained almost 5% and there was a move above the USD 400 resistance. The price is now consolidating gains and might rise further above USD 405. The next major resistance is near the USD 412 level.
Solana (SOL) rallied 9%, surpassed the USD 92 resistance, and tested the USD 95 resistance zone. If the bulls remain in action, the price may possibly rise towards the USD 100 resistance zone.
DOGE climbed steadily above the USD 0.135 resistance zone. It even tested the USD 0.138 resistance. If there are additional gains, the price might rise towards the USD 0.140 resistance.
XRP price also gained pace and was able to clear the key USD 0.65 resistance and is now up almost 6% in a day. The next key resistance on the upside is near the USD 0.665 level, above which the price could revisit USD 0.68.
Many altcoins are up over 5%, including LUNA, AVAX, DOT, MATIC, TRX, LTC, NEAR, UNI, APE, XLM, VET, MANA, and THETA. Meanwhile, TRX, WAVES, and ZIL are the three best performers among the top 100 cryptoassets by market capitalization today, as they jumped 24%-34% in a day.
Overall, bitcoin price tested the USD 40,000 resistance. To continue higher, BTC must settle above the USD 40,000 resistance. If not, it could trim gains and move towards USD 38,800.
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May 12, 2022 at 07:09PM