Bitcoin price found support near USD 58,500 and recovered. BTC is back above USD 60,000 and is currently (04:23 UTC) consolidating. A close above USD 61,200 could push the price towards the USD 62,500 resistance zone.
Besides, most major altcoins are gaining bullish momentum. ETH is up 5% and it broke the USD 4,300 level. XRP gained pace for a move above the USD 1.12 resistance. ADA is rising towards the USD 2.00 resistance zone.
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After a sharp decline, bitcoin price found support near the USD 58,500 level. BTC started an upside correction and traded above USD 60,000. On the upside, the price could struggle near the USD 61,000 level. A close above USD 61,000 could push the price towards the key USD 62,500 resistance zone.
On the downside, an initial support is near the USD 60,200 level. The next key support is near the USD 60,000 level, below which the price might start a fresh decrease.
Ethereum price remained strong above the USD 4,000 and USD 4,050 levels. As a result, there was an upward move above the USD 4,250 resistance. The price even surpassed USD 4,300 and is now trading around this level.
On the downside, an initial support is near USD 4,250. The key support is near USD 4,180, below which the price might test USD 4,050.
Cardano (ADA) recovered above the USD 1.88 and USD 1.90 resistance levels. On the upside, the price might face sellers near USD 1.92 and USD 1.95. The main barrier for the bulls is now near the USD 2.00 level.
Binance coin (BNB) tested the USD 550 support level. A base is formed, and the price is now rising. If there is an upside break above USD 590, the price could even surpass USD 600. Conversely, there might be a fresh decline towards the USD 565 support.
Solana (SOL) is moving higher and is trading near the USD 220 level. An immediate resistance is near the USD 225 level. A clear move above this level may perhaps push the price towards the USD 235 resistance.
SHIB is trying to recover, but it is facing resistance near the USD 0.000050 level. An upside break above the USD 0.0000500 level could push the price further higher. The next key resistance is near the USD 0.0000525 level, above which the price could rise towards USD 0.000055.
XRP price is up almost 6% and it broke the USD 1.12 resistance zone. The price is now approaching the USD 1.15 resistance. Any more upsides may possibly lead XRP towards the USD 1.20 resistance in the near term.
Many altcoins are up over 8%, including CRO, KDA, IMX, KCS, AVAX, UMA, WAXP, YFI, AUDIO, SAND, CRV, MATIC, and MINA. Out of these, CRO rallied 46% and surpassed the USD 0.55 level. Meanwhile, IOTX and LRC are down around 10%.
Overall, bitcoin price is consolidating above the USD 60,000 level. If BTC climbs above USD 61,000, it could rise towards the USD 62,500 resistance zone.