Bitcoin and Ethereum Consolidate Gains, SOL Inches Higher

The NFT Unicorn 4 Bitcoin and Ethereum Consolidate Gains, SOL Inches Higher Uncategorized


  • Bitcoin price is consolidating near USD 38,500.
  • Ethereum spiked higher towards USD 2,800, XRP is facing resistance near USD 0.63.
  • SOL extended rally and settled above USD 105.

Bitcoin price settled above the USD 38,000 level and extended rally. BTC even climbed above the USD 38,800 level, but upsides were limited above USD 39,000. It is currently (11:56 UTC) consolidating and eyeing more gains above USD 38,500.

Similarly, most major altcoins are trading in a positive zone. ETH spiked above USD 2,750, but the bears appeared near USD 2,800. XRP is struggling to gain pace above USD 0.625. ADA is moving higher towards the USD 1.08 resistance.

Total market capitalization

The NFT Unicorn screenshot-2022-02-01-at-14-06-27-crypto-market-cap-and-defi-market-cap-charts-tradingview Bitcoin and Ethereum Consolidate Gains, SOL Inches Higher Uncategorized

Bitcoin price

After a steady increase, bitcoin price was able to clear the USD 38,500 resistance zone. BTC even briefly spiked above USD 39,000 before declining below USD 38,500, but the bulls protected USD 38,000. The next major support is near USD 37,500, below which the price could dive to USD 36,000.

On the upside, the price must settle above USD 38,500 and USD 38,800 for upside continuation. The next key resistance could be USD 40,000.

Ethereum price

Ethereum price also followed a similar pattern and spiked above the USD 2,750 level. ETH traded close to USD 2,800 before there was a downside correction. The price is still above USD 2,700, but any more losses might send it to USD 2,650.

If there is another increase, the price might face resistance near USD 2,800. The next key resistance is near the USD 2,880 level, above which the price could rise towards the USD 3,000 level.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) is moving higher and trading near USD 1.05. The first key resistance is near the USD 1.08 level. A clear move above USD 1.08 may perhaps send the price to USD 1.12.

Binance coin (BNB) is consolidating near the USD 380 level. An immediate resistance is near the USD 388 level. A proper break above the USD 388 level might call for a move towards the main USD 400 resistance.

Solana (SOL) gained pace for a move above the USD 100 level. It is up 16% and there was a spike above USD 105. The next resistance is near USD 112, above which the price could test USD 120.

DOGE is now facing sellers near the USD 0.145 resistance. The next key resistance is near the USD 0.150 level, above which the bulls might gain strength. If not, there could be a downside correction to USD 0.135.

XRP price climbed above the USD 0.620 level but struggled near USD 0.630. If there is an upside continuation above USD 0.630, the price may perhaps rise towards the USD 0.65 level. Conversely, it could drop to USD 0.580.

Other altcoins market today

Many altcoins are up over 5%, including LUNA, DOT, AVAX, MATIC, ATOM, UNI, NEAR, FTT, FTM, MANA, HBAR, LEO, and FIL. Out of these, ATOM is up 11% as is testing the USD 30 level.

To sum up, bitcoin price extended increase above USD 38,500. If BTC defends this level, there are chances of a steady move towards the USD 40,000 resistance in the coming sessions.


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Source: Crypto News