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Cryptocurrency Market: Bitcoin Earns Over $40,000, Ethereum Hits $3,000

Cryptocurrency Markets: On Friday, Bitcoin (BTC) rallied, returning above $40,000 for the first time in two weeks, while Ethereum (ETH) approached $3,000.

Other coins in the top 10 are up 5%-13% in one day.

Cryptocurrency Market: Bitcoin Price

After closing above $37,000, bitcoin price continued its rally. BTC broke the resistance at $37,800 and even surpassed $38,000. The next major resistance is near $38,500, above which a pullback to the $39,200 resistance level is possible. Each additional win can add up to $40,000.

As of 17:00 UTC, BTC is trading at $40,426 and is up almost 10% in a day and 9% in a week. ETH is up 12% to surpass $2,950. It also rose 22% in one week.

Cryptocurrency Market: Ethereum Price

Ethereum price started a strong climb above the $2,700 level. ETH outperformed BTC and gained 8%. There was a clear move above the $2,800 resistance. The next key resistance is near $2,880, above which a rally to $3,000 is possible.

The initial support is near the $2,780 level. The next major support is at $2,750, where the price could test $2,700.

Crypto market: ADA, BNB, SOL, DOGE and XRP prices

Cardano (ADA) forming a base above the $1.05 level. The first key resistance stands at $1.08 but the key hurdle remains at $1.10. A close above $1.10 could trigger a stronger rally.

Binance Coin (BNB) is moving higher towards the $380 resistance level. The next key resistance is at $388. A clear move above $388 is a must to test the $400 resistance. Conversely, it can drop back to the $355 support.

Solana (SOL) has started another rally above the $100 resistance. It is up more than 8% and is trading above $105. The next major resistance is near the $112 level, where the bears could take a stand.

DOGE is moving higher towards the $0.145 resistance level. The main resistance is near $0.150, above which a rally to $0.168 is possible. On the downside, the $0.135 level is a key support.

XRP price is moving higher towards the $0.632 resistance level. If the bulls remain active, a rally to $0.65 is possible. Conversely, it might return to the $0.60 support area in the short-term.

Cryptocurrency Market: Other altcoin markets

Many altcoins are up more than 5%, including LUNA, DOT, MATIC, CRO, ATOM, AVAX, LTC, LINK, NEAR, TRX, FTT, FTM, HBAR, and ETC. Of these, HBAR is up 12% and trading above $0.24, bringing its weekly gain to almost 17%. AVAX is up nearly 8% to surpass $71. It also rose 10% in one week.

To sum up, bitcoin price is showing resilience above the $37,000 level. If BTC settles above $38,000, it can rally to the $40,000 resistance in the short term.

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.