Bitcoin and Ethereum Reverse Losses, Altcoins Jump
Bitcoin price found a strong buying interest above the USD 41,500 level. As a result, BTC started a steady upward move above the USD 42,500 resistance zone and is currently (04:13 UTC) trading above USD 43,600. It's up almost 4% in a day and erased almost all its weekly losses.
Similarly, most major altcoins are rising steadily. ETH was able to recover above the USD 3,000 resistance zone and is now up almost 6% in a day, trimming its weekly losses to less than 4%. XRP is trading above the USD 0.820 pivot level. ADA is up almost 5% and is testing the USD 1.08 resistance.
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After a strong decline, bitcoin price BTC formed a base near the USD 41,500 level and started a fresh increase above the USD 42,500 resistance. It even cleared the USD 43,500 level to move into a positive zone. On the upside, an initial resistance is near USD 43,800. The next resistance is near the USD 44,000 level, above which the price might gain bullish momentum.
On the downside, an immediate support is near the USD 43,200 level. The next key support is near the USD 42,500 level, below which the price might struggle in the short term.
Ethereum price also followed bitcoin and recovered above the USD 2,950 resistance. ETH even climbed above USD 3,000 to enter a positive zone. It is now facing resistance near the USD 3,050 level. The next key resistance could be near the USD 3,120 zone.
If there is another bearish wave, the price might find support near USD 2,950. The next major support is near USD 2,850, below which the price could slide to USD 2,750.
Cardano (ADA) remained stable above the USD 1.00 support and recovered above USD 1.05. The bulls pushed the price towards USD 1.08, trimming its weekly losses to 10%.
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