The prices of Bitcoin and Ethereum have started to climb. Both coins have broken resistance and are now making a steady recovery out of a recent slump. Among the worst performing coins today is COMP, after experiencing unusual activity.
The price of Bitcoin (BTC) has started to make its recovery, moving above its $42,500 resistance. The coin broke the $43,200 level and has moved into a positive zone. It is currently trading above $43,500 but could face further resistance near $44,400.
Along with Bitcoin, many Altcoins are also making a recovery after a recent market slump. Ethereum (ETH) is up by almost 4% and was able to clear the $3000 resistance. Ripple (XRP) is now back above $0.950, while ADA is consolidating below $2.15 and could face hurdles at $2.20.
Bitcoin price recovery
Bitcoin (BTC) has formed a strong base above $42,000 and has started a steady increase. After breaking both the $43,000 and $43,200 resistance levels, the coin is showing positive signs. Its next hurdle will now be near the $44,000 level. If BTC manages to clear the resistance at $44,400, the price could surge above $45,000.
The current immediate support is near the $43,000 level. After that, the next support is at $42,500. If the price falls below this support, it could easily plummet below $42,000.
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Ethereum price recovery
The price of Ethereum (ETH) has climbed above the $2,950 resistance level. The coin is up by almost 4% and is now trading above $3,000. If the positive trend continues, the price could surge towards the $3,100 level. The next major breakout zone for Ethereum is near the $3,120 and the $3,150 levels.
If the trend turns downside, the initial support is at $2,980 and the first major support is forming at around $2,820.
Cardano (ADA) is currently sitting around the $2.12 level. If the coin gains pace and rises above the $2.15 level, it could easily resist the $2.20 resistance. To surge higher, Cardano must clear this resistance. If the coin does not clear this resistance, the support is at $2.02 and $2.00.
Litecoin (LTC) is up by over 4% and has broken the $150 resistance. The next major resistance is around $155 and a close above this level may push the price to $165. If the price declines, it could fall towards the $140 level.
Dogecoin (DOGE) is attempting to make a recovery and push above $0.202. If the coin goes past this, it will face immediate resistance at $0.205. If the coin clears this resistance, the price could shoot up towards the $0.212 pivot level. The $0.200 level is major support.
Many Altcoins are up over 5% this morning. Out of these, OMG rallied 18% and tested the $11.20 level.